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Financial Supervision Arrangements: Experience And Perspectives

Author

Listed:
  • Liliana DONATH

    (Babes-Bolyai University, Faculty of Economics and Business Administration, liliana.donath@e-uvt.ro, Cluj-Napoca, Romania,)

  • Veronica MIHUTESCU CERNA

    (Babes-Bolyai University, Faculty of Economics and Business Administration, veracerna@yahoo.com, Cluj-Napoca, Romania,)

  • Ionela OPREA

    (Babes-Bolyai University, Faculty of Economics and Business Administration, oprea.ione@yahoo.ro, Cluj-Napoca, Romania,)

Abstract

The surveillance of financial markets has always been a preoccupation of decision makers, but the present crisis requires a reconsideration of former arrangements in order to deal with vulnerabilities and contagion. Traditionally, separate authorities ensured the supervision of banks, capital markets, insurance companies, given their rather small scale activity and specificities. But, the ongoing changes concerning the portfolio of financial products that have occurred during the last two decades have strengthened the connections among financial institutions. The paper analyses the manner The Bank of England and The European Central Bank have reconsidered the architecture of the regulatory and supervisory system to meet the challenges raised by the recent crisis. The main conclusion of the study is that there is no one size fits all supervising system and that its architecture depends on the specific financial history of a country, its economic development, culture, the concentration and openness of their financial systems.

Suggested Citation

  • Liliana DONATH & Veronica MIHUTESCU CERNA & Ionela OPREA, 2014. "Financial Supervision Arrangements: Experience And Perspectives," Journal of Public Administration, Finance and Law, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 0(Special i), pages 25-30, September.
    • Handle: RePEc:aic:jopafl:y:2014:v:s1:p:25-30
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    References listed on IDEAS

    as
    1. James R. Barth & Gerard Caprio & Ross Levine, 2013. "Bank regulation and supervision in 180 countries from 1999 to 2011," Journal of Financial Economic Policy, Emerald Group Publishing Limited, vol. 5(2), pages 111-219, May.
    2. Murphy, Emma & Senior, Stephen, 2013. "Changes to the Bank of England," Bank of England Quarterly Bulletin, Bank of England, vol. 53(1), pages 20-28.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    banks; prudential supervision; risks;
    All these keywords.

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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