A note on the differences between European and international methodologies of banking regulation and supervision

C. A. E. Goodhart and Hideki Sato

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: Although monetary policy is the main tool for central banking in order to control inflation/deflation, micro- and macroprudential instruments are also essential for crisis management. In this paper, we aim to clarify the differences between European and international banking methodologies. The European approach as represented by the European Banking Union, is based on a harder legalistic approach, whereas the international approach implemented by the Basel Committee on Banking Supervision has a soft-law methodology. We propose two comparative standpoints: “uniformity” versus “diversity”, and a “legislative” versus "principle-based” approach.

Keywords: European Banking Union (EBU); banking regulation and supervision; Basel Committee on Banking Supervision (BCBS) (search for similar items in EconPapers)
JEL-codes: E58 F36 G28 (search for similar items in EconPapers)
Date: 2024-02-16
New Economics Papers: this item is included in nep-ban, nep-cba, nep-mon and nep-reg
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:122044

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