Which is the current state of the insurance supervision architectures? The recent financial crisis has forcefully demonstrated that the financial services markets are deeply integrated, requiring an integrated supervisory approach. How is insurance supervision integrated into the overall...

The Asian financial crisis marked the beginning of worldwide efforts to improve the effectiveness of financial supervision. However, the crisis that started in 2007–08 was a crude awakening: several of these improvements seemed unable to avoid or mitigate the crisis. This paper brings the...

Which is the current state of the securities market supervision architectures? The recent financial Crisis has forcefully demonstrated that the financial services markets are deeply integrated, suggesting a corresponding integrated supervisory approach. The fact that market integration calls for...

Today policymakers in all the countries, shocked by the financial crisis of the 2007-2008, are reconsidering carefully the features of their supervisory regimes. This paper reviews the changing face of the financial supervisory regimes introducing new indicators to measure the level 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...

Almost all literature on the evolution of financial supervision architecture stresses the importance of financial market characteristics in determining the recent trend toward more unification. In the real world, however, it is not always clear to what extent market features are important. We...

This paper analyzes recent trends in, and determinants of, financial supervisory governance inside and outside central banks. We first identify similarities and differences between this emerging strand in the literature and the central bank independence literature in order to frame the...