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Reform of the European Union financial supervisory and regulatory architecture and its implications for Asia

Zsolt Darvas (), Dirk Schoenmaker () and Nicolas Veron

Working Papers from Bruegel

Abstract: European Union countries offer a unique experience of financial regulatory and supervisory integration, complementing various other European integration efforts following the second world war. Financial regulatory and supervisory integration was a very slow process before 2008, despite significant cross-border integration especially of wholesale financial markets.However, the policy framework proved inadequate in the context of the major financial crisis in the EU starting in 2007, and especially in the euro area...

Date: 2016-11
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