Financial supervision in the EU: is there convergence in the national architectures?

Donato Masciandaro (Paolo Baffi Centre, Bocconi University, Milan, Italy)
Maria Nieto (Banco de Espana, Madrid, Spain)
Marc Quintyn (IMF Institute, International Monetary Fund, Washington, DC, USA)

Journal of Financial Regulation and Compliance

ISSN: 1358-1988

Publication date: 8 May 2009

Abstract

Purpose

The purpose of this paper is to review current trends in reforms of the supervisory architecture in European Union (EU) countries.

Design/methodology/approach

Against the background of the debate on the advisability of further centralizing prudential supervision in the EU this paper develops a study of applied institutional economics, analyzing the financial supervisory architecture of each of the 27 EU countries and assesses their degree of institutional convergence. The paper investigate whether the recent wave of reforms are leading to a convergence of the national architectures.

Findings

While the degree of supervisory convergence is low, there is no single superior model of bank supervision.

Originality/value

The paper contributes to the debate on convergence of supervisory architectures in EU member countries.

Keywords

Citation

Masciandaro, D., Nieto, M. and Quintyn, M. (2009), "Financial supervision in the EU: is there convergence in the national architectures?", Journal of Financial Regulation and Compliance, Vol. 17 No. 2, pp. 86-95. https://doi.org/10.1108/13581980910952540

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Publisher

:

Emerald Group Publishing Limited

Copyright © 2009, Emerald Group Publishing Limited

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