The Operation of Supervisory Colleges in EU Banking Supervision: A Case Study of Soft Law Becoming Hard Law

74 Pages Posted: 27 Nov 2020 Last revised: 24 Apr 2021

See all articles by Duncan Alford

Duncan Alford

University of South Carolina School of Law; University of South Carolina - Coleman Karesh Law Library

Date Written: August 12, 2020

Abstract

In this paper, I consider the case of supervisory cooperation among bank regulators where voluntary cooperation (soft law) over a period of 50 years has become hard law (regulations and directives) within the European Union. Driven by major international bank failures or financial crises, international standards for prudential supervisory cooperation among bank regulators have steadily developed and become more precise and defined since the early 1970s.

Keywords: international banking, supervisory cooperation, European Union, Basel Committee, Single Supervisory Mechanism, European Central Bank

JEL Classification: F30, N20, N24, G01, G18

Suggested Citation

Alford, Duncan, The Operation of Supervisory Colleges in EU Banking Supervision: A Case Study of Soft Law Becoming Hard Law (August 12, 2020). Available at SSRN: https://ssrn.com/abstract=3710037 or http://dx.doi.org/10.2139/ssrn.3710037

Duncan Alford (Contact Author)

University of South Carolina School of Law ( email )

701 Main Street
Columbia, SC 29208
United States

University of South Carolina - Coleman Karesh Law Library ( email )

1525 Senate Street
Columbia, SC 29208
United States

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