Purpose – The purpose of this paper is to review current trends in reforms of the supervisory architecture in European Union (EU) countries. Design/methodology/approach – Against the background of the debate on the advisability of further centralizing prudential supervision in the EU this...

Against the background of the debate on the advisability of further centralizing prudential supervision in the EU this paper develops a study of applied institutional economics, analyzing the financial supervisory architecture of each of the 27 EU countries and assesses their degree of...

In June 2009 a new financial supervisory framework for the European Union (EU) was endorsed, consisting of a macro- and a micro-prudential pillar. The latter is composed of a Steering Committee, a supranational layer and a network of national supervisory authorities at the bottom, de facto...