In the aftermath of the euro-area sovereign debt crisis, several commentators have questioned the favourable treatment of banks' sovereign exposures allowed by the current prudential rules. In this paper, we assess the overall desirability of reforming these rules. We conclude that the...

During the crisis, the operators' confidence in securitization has significantly diminished and the market has registered a sharp slowdown. Among the regulatory initiatives proposed to support this market, retention can play an important role: it may not be sufficient to reduce the information...

The reform of prudential regulation, realized by the Eu Commission after the financial crisis, aimes to reinforce markets integrity and to restore the confidence of investors. First of all, by strengthening cooperation between authorities and secondly creating a reliable and harmonized...

Technological progress in finance has been accelerating over the last decade. In the future, it is likely that financial intermediaries may undergo significant challenges as regards their traditional business model and functions, since an increasing share of payments may be settled without...

Prudential regulation on Ucits’ shares is complex and is based on an incentive system that, in addition to the standard method, provides for the possibility to use the internal rating-based approach.The introduction of this discipline based on a risk-sensitive approach is certainly positive,...