The economic crisis of 2008 and the financial system supervision: towards a European Banking Union

Main Author: Kolovou, Evaggelia
Other Authors: Gikas, Grigorios
Kyritsis, Kostantinos
Format: Journal article
Language: English
Published: Central european review of economics & finance VOL.24 NO.2 2018 2018
Subjects:
Online Access: http://cris.teiep.gr/jspui/handle/123456789/1631
id cris-123456789-1631
recordtype dspacecris
spelling cris-123456789-16312018-06-07T00:00:38Z The economic crisis of 2008 and the financial system supervision: towards a European Banking Union Kolovou, Evaggelia Gikas, Grigorios Kyritsis, Kostantinos Banks and Banking Monetary Policy Central Banks and Their Policies Financial Aspects of Economic Integration The significant repercussions of the recent crisis in the financial sector and the real economy have led to the development of policies aimed at strengthening the stability of the international banking system. Banking regulatory reforms (Basel III) improve micro-prudential supervision and involve macro-prudential supervision to avoid systemic risk. Capital requirements are tightening up and the quality of core capital is upgraded in order to provide greater coverage of losses and better risk management. In addition, a new framework for liquidity risk is introduced, as well as a complementary tool for limiting leverage. Recently, an agreement was reached in the EU to establish a Banking Union in the Eurozone, based on uniform regulation, supervision, bank clearing and deposit protection mechanisms. This framework includes a common banking capital for bank consolidation, which aims to reduce the impact on savers. This study aims to analyse the banking sector's activities and the constituent elements of the existing regulatory framework, particularly those involved in the causes of the financial crisis. It also aims to present the dimensions of the new regulatory framework for joint supervision leading to the European Banking Union and to analyse the pillars that form it, even though they are still in progress. The analysis will also build on the experiences from the recent crisis, in order to reach clear conclusions about the necessity and role of the Banking Union. 2018-04-25 Journal article http://cris.teiep.gr/jspui/handle/123456789/1631 2082-8500 Central european review of economics & finance VOL.24 NO.2 2018 PP 45-56 http://www.ceref.pl/index.php/CEREF en VOL.24 NO.2 2018;PP 45-56 14 Central european review of economics & finance VOL.24 NO.2 2018
institution T.E.I. of Epirus
collection DSpace CRIS
language English
topic Banks and Banking
Monetary Policy
Central Banks and Their Policies
Financial Aspects of Economic Integration
spellingShingle Banks and Banking
Monetary Policy
Central Banks and Their Policies
Financial Aspects of Economic Integration
Kolovou, Evaggelia
The economic crisis of 2008 and the financial system supervision: towards a European Banking Union
abstract The significant repercussions of the recent crisis in the financial sector and the real economy have led to the development of policies aimed at strengthening the stability of the international banking system. Banking regulatory reforms (Basel III) improve micro-prudential supervision and involve macro-prudential supervision to avoid systemic risk. Capital requirements are tightening up and the quality of core capital is upgraded in order to provide greater coverage of losses and better risk management. In addition, a new framework for liquidity risk is introduced, as well as a complementary tool for limiting leverage. Recently, an agreement was reached in the EU to establish a Banking Union in the Eurozone, based on uniform regulation, supervision, bank clearing and deposit protection mechanisms. This framework includes a common banking capital for bank consolidation, which aims to reduce the impact on savers. This study aims to analyse the banking sector's activities and the constituent elements of the existing regulatory framework, particularly those involved in the causes of the financial crisis. It also aims to present the dimensions of the new regulatory framework for joint supervision leading to the European Banking Union and to analyse the pillars that form it, even though they are still in progress. The analysis will also build on the experiences from the recent crisis, in order to reach clear conclusions about the necessity and role of the Banking Union.
format Journal article
author Kolovou, Evaggelia
author-letter Kolovou, Evaggelia
author2 Gikas, Grigorios
Kyritsis, Kostantinos
author2Str Gikas, Grigorios
Kyritsis, Kostantinos
title The economic crisis of 2008 and the financial system supervision: towards a European Banking Union
title_short The economic crisis of 2008 and the financial system supervision: towards a European Banking Union
title_full The economic crisis of 2008 and the financial system supervision: towards a European Banking Union
title_fullStr The economic crisis of 2008 and the financial system supervision: towards a European Banking Union
title_full_unstemmed The economic crisis of 2008 and the financial system supervision: towards a European Banking Union
title_sort economic crisis of 2008 and the financial system supervision: towards a european banking union
publisher Central european review of economics & finance VOL.24 NO.2 2018
publishDate 2018
url http://cris.teiep.gr/jspui/handle/123456789/1631
issn 2082-8500
identifiercitation Central european review of economics & finance VOL.24 NO.2 2018 PP 45-56 http://www.ceref.pl/index.php/CEREF
relation VOL.24 NO.2 2018;PP 45-56
physical 14
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score 11.370737