Landscape after the Lessons of the Crisis

Małgorzata Iwanicz-Drozdowska, Jakub Kerlin and Paweł Smaga

Chapter 5 in European Bank Restructuring During the Global Financial Crisis, 2016, pp 74-112 from Palgrave Macmillan

Abstract: Abstract This chapter characterizes the changes caused by the recent global financial crisis (GFC). The starting point is the macroeconomic situation combined with the situation in the EU banking sectors. Because the GFC forced the decision-makers to rebuild the financial safety net, the most significant changes for the EU banking sectors have been also elaborated. These include more restrictive capital regulations, liquidity regulations, responsibilities of the financial safety net players and the resolution authority and tools. The chapter also emphasizes the banking union, which is a new concept implemented gradually for the Eurozone. On 4 November 2014, the Single Supervisory Mechanism (SSM) started to operate as the first pillar of the banking union.

Keywords: Central Bank; Banking Sector; Credit Institution; European Banking Authority; Single Supervisory Mechanism (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-1-137-56024-7_5

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DOI: 10.1057/9781137560247_5

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