For a complete re-thinking of European surveillance structure: the ABI proposal

Giuseppe Zadra
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Giuseppe Zadra: ABI General Director

BANCARIA, 2009, vol. 2, 2-10

Abstract: The financial crisis shows the limits of a fragmented surveillance scheme and points out the need of new architectures characterized by simplicity, applicability of rules, lower costs of compliance, lower conflicts of interests, absence of regulatory arbitrage and universality. For this purpose, ABI suggests a new regulatory framework with new European supervisory authority for the banking and insurance sector that must work with the ECB. The ECB is responsible for the macro-prudential supervision and the new regulatory authority had to establish homogeneous supervisory rules and practices for all financial intermediaries in Europe.

Keywords: crisis; innovation; ethics; transparency; capital adequacy (search for similar items in EconPapers)
JEL-codes: G01 G18 G28 (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:ban:bancar:v:2:y:2009:m:february:p:2-10

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