The Lender of Last Resort in the European Single Financial Market

Garry Schinasi () and Pedro Gustavo Teixeira
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Pedro Gustavo Teixeira: European Central Bank, Germany

Chapter 23 in Cross-Border Banking:Regulatory Challenges, 2006, pp 349-372 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:IntroductionSystemic Risk in the Single Financial MarketIntegrated financial markets and market infrastructuresBanking concentration at the domestic levelThe emergence of pan-European banking groups with complex structuresCentralization of business functions in banking groupsThe emergence of large and complex financial institutionsIncreased foreign ownership of financial assetsThe Architecture for Financial Crisis ManagementCooperation between functions through committee-structuresCooperation agreementsConclusionThe Lender of Last Resort Function in PracticeDetection of a liquidity shockAssessment of systemic riskJurisdiction of the lender of last resortAssessing the solvency position of a pan-European banking groupInteraction with treasuriesConclusion: Pressure points of the lender of last resortChallengesInstitutional coordination issuesCoordination modelsWays Forward: Coordination versus Centralization of PolicymakingReferences

Keywords: Cross-Border Banking; Home-Host Coordination; International Banking; International Bank Mergers; Regulation of Cross-Border Banking; Failure of Internationally Active Banks; Geographic Expansion in Banking (search for similar items in EconPapers)
Date: 2006
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