A European Mandate for Financial Sector Supervisors in the EU

Author/Editor:

International Monetary Fund

Publication Date:

January 1, 2009

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

The EU is deliberating the introduction of an explicit "European mandate" for financial sector supervisors to supplement national mandates. Suggestions are made on (i) the formulation of a European mandate; (ii) the policy areas to which it should apply; (iii) which institutions should be given a European mandate; (iv) the legal basis for the mandate; (v) how to implement the mandate in practice; and (vi) how to achieve accountability for fulfilling a European mandate. Decisions on these issues are needed if the introduction of a European mandate is to have a substantive positive effect.

Series:

Working Paper No. 09/5

Subject:

Bank supervision European Union Financial stability Governance Intergovernmental fiscal relations International cooperation Monetary authorities Monetary policy Political economy

English

Publication Date:

January 1, 2009

ISBN/ISSN:

9781451871524/1018-5941

Stock No:

WPIEA2009005

Format:

Paper

Pages:

32

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