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The ECB’s role in financial supervision

Author

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  • Karl Whelan

Abstract

The European Council’s decisions to implement the De Larosiere recommendations for a reformed approach to micro-level financial supervision and a new European Systemic Risk Board (ESRB) are to be welcomed. The ECB’s central role in the ESRB is also to be welcomed. However, the limited role envisaged for the ESRB means that it may not actually help much in preventing future crises. The ESRB should be given a central role in the implementation of counter-cyclical capital ratios and in promoting (and then overseeing implementation of) other changes such as maximum leverage ratios and limits on non-core funding.

Suggested Citation

  • Karl Whelan, 2009. "The ECB’s role in financial supervision," Working Papers 200915, School of Economics, University College Dublin.
    • Handle: RePEc:ucn:wpaper:200915
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    File URL: http://hdl.handle.net/10197/2613
    File Function: First version, 2009
    Download Restriction: no
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    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. EU Set to Regulate Hedge Funds
      by Karl Whelan in The Irish Economy on 2010-05-17 02:33:54

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    Cited by:

    1. Naďa Blahová, 2010. "The Changes within the Regulatory and Supervisory Framework of the European Union Financial Markets [Změny regulačního a dohledového rámce finančních trhů v Evropské unii]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2010(2), pages 42-51.

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