Governance of the Single Supervisory Mechanism: Some Reflections

29 Pages Posted: 25 Jan 2014

See all articles by Donato Masciandaro

Donato Masciandaro

Bocconi University - Department of Economics

Maria Nieto

Banco de España

Date Written: January 1, 2014

Abstract

Since the inception of the Euro, European policy makers have been increasingly recognizing the ‘efficiency’ gaps in EU financial supervision against a background of a decentralized institutional architecture for regulation, supervision and financial stability. Recognition of this gap had led to tangible efforts to capture some of the potential efficiency gains through legally binding mechanisms and policy coordination mechanisms (i.e. European System of Financial Supervisors – ESFS). That ongoing iterative process of cooperation and coordination can be interpreted as having already internalized some of the EU´s potential negative externalities of cross border banking (Nieto and Schinasi, 2007).

Suggested Citation

Masciandaro, Donato and Nieto, Maria J., Governance of the Single Supervisory Mechanism: Some Reflections (January 1, 2014). Baffi Center Research Paper No. 2014-149. Available at SSRN: https://ssrn.com/abstract=2384594 or http://dx.doi.org/10.2139/ssrn.2384594

Donato Masciandaro (Contact Author)

Bocconi University - Department of Economics ( email )

Via Gobbi 5
Milan, 20136
Italy

Maria J. Nieto

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

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