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The Regulation Framework for the Banking Sector: The EMU, European Banks and Rating Agencies before and during the Recent Financial and Debt Crisis

Author

Listed:
  • Eleftherios Thalassinos

    (University of Piraeus)

  • Konstantinos Liapis

    (Panteion University)

  • John E. Thalassinos

    (MSc. London Business School)

Abstract

In our survey article, we present a holistic regulation framework for the banking sector. The article is based on European banks that are part of the European Monetary Union (EMU). Initially, we focus on the timelines and review the integration of the European Monetary Union, relevant legislation and information on member countries’ banking sectors. This information creates the framework for our analysis. A regulation framework for the banking sector should be characterised by transparency, responsibility and performance in several important areas. These areas are the global and European framework for corporate financial reporting (CFR), risk management (RM), stockholder value creation (SVC), corporate governance (CG), corporate social responsibility (CSR) and sustainable development (SD). The regulation framework for the banking sector must also consider the fiscal and monetary environment in which a banking institution operates. The global rating system and the rating agencies will also have an important impact on any regulation framework for the banking sector. These two factors play a key role when a financial, credit or debt crisis occurs. Our article considers all of the above factors in creating a holistic regulation framework for the banking sector to present in the context of the recent financial, credit and debt crises that have taken place in the EMU.

Suggested Citation

  • Eleftherios Thalassinos & Konstantinos Liapis & John E. Thalassinos, 2011. "The Regulation Framework for the Banking Sector: The EMU, European Banks and Rating Agencies before and during the Recent Financial and Debt Crisis," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 1(39), pages 250-279.
    • Handle: RePEc:aio:aucsse:v:1:y:2011:i:39:p:250-279
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    References listed on IDEAS

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    More about this item

    Keywords

    Banking; Regulations; Financial Crisis; Debt Crisis; EMU;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management

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