Legislation laying down the institutional system of the Banking Union was finalised in April 2014. In accordance with the regulations, non-euro area Member States, including Hungary, may notify the ECB at any time if they wish to participate in the common system even before the euro is adopted....

The financial crisis has highlighted the necessity of discussions on the adequacy of banking regulation and accounting standard-setting for financial institutions. We compare the development of several variables in this context between commercial banks, cooperative banks and savings banks from...

After showing remarkable resilience to the negative effects of the 2007-2009 global financial crisis, cooperative banks have undergone a process of reform and structural consolidation almost everywhere in Europe over the past decade. Recognizing these changes, the paper provides an account of...

This paper examines the implications that alternative regulatory structures may have for resolving failed banking institutions. We place our emphasis on the European Union (EU), which is both economically and financially large and has several features relating to cross-border banking in the form...

In the United States and the European Union (EU), political incentives to oppose cross-border banking have been strong in spite of the measurable benefits to the real economy from breaking down geographic barriers. Even a federal-level supervisor and safety net are not by themselves sufficient...

The handling of cross-border banks in difficulties gives rise to coordination problems between home and host countries. Goodhart and Schoenmaker (2006, 2009) have suggested to implement an ex ante burden sharing mechanism to overcome the co-ordination failure of national authorities. While...

To measure the size of the banking system, a country's banking assets divided by the country's gross domestic product (GDP) is commonly applied as a yardstick. But is the banking assets to GDP ratio an appropriate yardstick? This paper shows that comparing a country's banking sector only by...

In this paper we propose country-specific and systemic metrics that allow quantifying whether cross-border banking in a country (or region) takes a desirable form. Applying these metrics to the EU countries, we find that the countries with the largest banking centers, UK and Germany, are well...

The present study contains a further update of the comprehensive overview of the evolution of European (EU) banking law under the influence of public international banking law. It is structured in two Chapters. Chapter I, entitled “Public International Financial Law (Regulation)” contains...