The Evolution of EU Accounting Rules and the Bank Solvency Directive

Posted: 28 Feb 1998

See all articles by Simon Wolfe

Simon Wolfe

University of Southampton - School of Management; University of Southampton - Southampton Business School

Abstract

This paper starts with a historical overview of the evolution of European Union rules relating to banks. It analyzes the objectives of the EU in each of its Directives pertaining to banks. Using these objectives as a bench mark to measure the effectiveness of current accounting regulation the paper proposes a future path for accounting regulations to follow. Full harmonisation of accounting rules across the Union is proposed as the only viable way to achieve all the objectives past and present for a sound banking system built on a competitively level playing pitch. The process by which these rules evolve and specifically how new accounting rules should evolve is also discussed.

JEL Classification: G21

Suggested Citation

Wolfe, Simon, The Evolution of EU Accounting Rules and the Bank Solvency Directive. Available at SSRN: https://ssrn.com/abstract=55469

Simon Wolfe (Contact Author)

University of Southampton - School of Management ( email )

Highfield
Southampton S017 1BJ, Hampshire SO17 1BJ
United Kingdom

University of Southampton - Southampton Business School ( email )

Southampton, SO17 1BJ
United Kingdom

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