A Note on the Differences between European and International Methodologies of Banking Regulation and Supervision

Charles Goodhart and Hideki Sato

No 18840, CEPR Discussion Papers from Centre for Economic Policy Research

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

JEL-codes: E58 F36 G28 (search for similar items in EconPapers)
Date: 2024-02
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