Central Banks as a Bank Supervisor - A Comparison of the Function of the Bank of England, the Federal Reserve and the European Central Bank

von: Stanyo Dinov

Tectum-Wissenschaftsverlag, 2018

ISBN: 9783828869622 , 109 Seiten

2. Auflage

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Central Banks as a Bank Supervisor - A Comparison of the Function of the Bank of England, the Federal Reserve and the European Central Bank


 

Abstract

6

Index of abbreviations

12

Central banks as a bank supervisor, a comparison of the function of the Bank of England, the Federal Reserve and the European Central Bank

1

1. Introduction

18

2. The Central Banks and their function

20

3. The Bank of England

28

3.1. Historical background

28

3.2. Banking Act 1998

30

3.3. The Financial Services Modernisation Act 2000

30

3.4. Banking Act 2008 and 2009

33

3.5. The Financial Services Act 2010

34

3.6. Financial Services Bill 2012

35

3.6.1. The Financial Policy Committee

38

3.6.2. The Prudential Regulation Authority

39

3.6.3. The Financial Conduct Authority

40

3.7. Financial Services Act 2012

41

3.8. The Financial Services Act 2013

42

3.9. Assessment

43

4. The Federal Reserve

46

4.1. Historical background

46

4.2. The US financial system and the Federal Reserve Act

49

4.3. Gramm-Leach-Bliley Act 1999

53

4.4. Commodity Futures Modernisation Act 2000

54

4.5. Emergency Economic Stabilisation Act 2008

55

4.6. White Paper on Financial Regulatory Reform 2009

56

4.7. Dodd-Frank Act 2010

57

4.8. Assessment

60

5. The European Central Bank

64

5.1. Historical background and responsibilities

64

5.2. The new European System of Financial Supervision

66

5.2.1. The Role of the European Central Bank

68

5.2.2. Evaluation

68

5.3. European Banking Union

69

5.3.1. Introducing of the SSM and the Proposals of the European Commission for conferring supervision tasks on the ECB and the new EBA

70

5.3.1.1. Requirements of the European Parliament

72

5.3.1.2. Political Agreement in the European Council

73

5.3.1.3. Problematic issues

76

5.3.1.3.1. Article 127(6) TFEU

76

5.3.1.3.2. Competences of the ECB, the ESRB and the EBA

79

5.3.1.3.3. Democratic Legitimacy

81

5.3.1.3.4. Scope of Supervision

82

5.3.2. Single Resolution Mechanism

83

5.3.3. Single Rulebook

84

5.3.4. European Deposit Insurance Scheme

85

5.4. Assessment

89

6. Conclusion

92

Bibliography

98

Cases:

98

Acts of Parliaments and Statutory Instruments:

98

Textbooks and monographs:

100

Journal articles:

102

Working papers:

105

Unbenannt

2