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International banking: a European view

Author: Dermine, Jean ; Walter, IngoINSEAD Area: Finance In: Restructuring Japan's financial markets - Walter, Ingo;Hiraki, Takato - 1993 - INSEAD Book Language: EnglishDescription: p. 157-181.Type of document: INSEAD ChapterNote: Please ask the Library for this chapter.Abstract: The integration of financial markets in Europe provides an excellent example of the international integration of financial markets in a setting where independent national central banks retain substantial regulatory and supervisory powers. The first part covers the European banking industry and analyzes the early effects of European integration. It is shown that the banking industry is undergoing a massive restructuring caused by competition deregulation among national regulators. In the second part, the paper analyzes the regulatory framework proposed by the European Commission for the integration of financial markets. It is argued that more work remains to be done to achieve open and stable markets. In particular, the prudential regulation of firms with significant risks located in foreign offices should be organized jointly by the home and host country authorities
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The integration of financial markets in Europe provides an excellent example of the international integration of financial markets in a setting where independent national central banks retain substantial regulatory and supervisory powers. The first part covers the European banking industry and analyzes the early effects of European integration. It is shown that the banking industry is undergoing a massive restructuring caused by competition deregulation among national regulators. In the second part, the paper analyzes the regulatory framework proposed by the European Commission for the integration of financial markets. It is argued that more work remains to be done to achieve open and stable markets. In particular, the prudential regulation of firms with significant risks located in foreign offices should be organized jointly by the home and host country authorities

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