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BANKING REGULATORY AND SUPERVISORY PRACTICES UNDER THE IMPACT OF THE PANDEMIC: EVIDENCE FROM THE EUROPEAN UNION

Claudia Gabriela Baicu

Euroinfo, 2020, vol. 4, issue 3, 97-111

Abstract: The banking regulatory framework in the European Union has been reconfigured following the global financial crisis of 2007-2009 and the sovereign debt crisis, with reforms including: the European Single Rulebook, the creation of the European Banking Authority, the European Systemic Risk Board and a single supervisory mechanism. The purpose of these reforms is to strengthen the capacity of the banking system to deal with possible crises. The Covid-19 pandemic brings new challenges to European regulators, called to increase the role of the banking system in lending to companies affected by the pandemic, but also in economic recovery. In this context, the paper presents some banking regulatory and supervisory practices implemented in the European Union under the conditions of the Covid-19 pandemic. The paper results illustrate that the banking regulatory policies designed before the outbreak of the epidemiological crisis have allowed the countries in the European Union to adopt measures to inject capital into the economy and increase the flexibility of the regulatory framework.

Keywords: banking regulation; banking supervision; capital requirements; Covid-19 pandemic; EU (search for similar items in EconPapers)
JEL-codes: G01 G21 G28 F36 (search for similar items in EconPapers)
Date: 2020
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