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We study how the Eurosystem Collateral Framework for corporate bonds helps the European Central Bank (ECB) fulfill its … due to the increased supply and demand for pledgeable collateral following eligibility, (i) securities lending market … collateral supply, thereby making the market more cohesive and complete. Following eligibility, bond-issuing firms reduce bank …
Persistent link: https://www.econbiz.de/10012208484
In this Article we submit that the compensation structures at banks before the financial crisis were not necessarily flawed and that recent reforms in this area largely reflect already existing best practices. In Part I we review recent empirical studies on corporate governance and executive pay...
Persistent link: https://www.econbiz.de/10013132545
Key points:• This article considers how the recent market turmoil affected national banking systems, thereby prompting state measures;• It describes the remuneration problems shown by the financial crisis: rewards for failure; short-term behaviour; inappropriate design of performance...
Persistent link: https://www.econbiz.de/10013136173
We examine the political dynamics which led to the codification of the Principles and Standards for sound compensation practices at financial institutions at international (G 20) level and to their subsequent implementation on both sides of the Atlantic. We show that the regulation of bankers'...
Persistent link: https://www.econbiz.de/10013091649
Persistent link: https://www.econbiz.de/10013064153
The paper outlines the developments in the EU regulatory framework for executive remuneration since 2004 and going through the financial crisis. It also presents the results of an analysis of the remuneration practices adopted by the largest European listed firms before and after the crisis,...
Persistent link: https://www.econbiz.de/10013073163
European corporate law and corporate governance are moving ahead beyond expectation. Some British voices called this “a renaissance in the past decade”. In December 2012, the European Commission came forward with an Action Plan that combines both corporate law and corporate governance rules...
Persistent link: https://www.econbiz.de/10013004015
In this chapter, we analyse current trends in the regulation and practice of executive remuneration. No doubt, the role of regulation in this area is on the rise, particularly after the recent financial crisis, and the standards as to pay governance and structures are spreading from the...
Persistent link: https://www.econbiz.de/10013045689
This study is aiming to present (and to a certain extent analyse) the provisions of Articles 24-30 of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 “on markets in financial instruments (…)” (‘MiFID II') – including the relevant provisions of the...
Persistent link: https://www.econbiz.de/10012933790
Repurchase agreements are money market instruments that are used widely and for various purposes due to their simplicity and flexibility. The European repo market is quite concentrated, as 80% of the transactions is conducted be-tween the top 20 banks and 61.9% of the collaterals used in the...
Persistent link: https://www.econbiz.de/10012436674