Suchergebnisse

The 2008 financial crisis highlighted weaknesses in the risk management, control and governance processes of banks as well as in their statutory audit and financial supervision. This led to increased scrutiny of the respective roles and interactions of banking supervisors and external auditors who are key contributors to market discipline. Auditors ensure that financial information is transparent and reliable while supervisors provide confidence in the financial systems. Both supervisors and auditors allow market players to make informed decisions and contribute to financial stability. Since 2008, regulators and lawmakers have strived to address the shortcomings identified during the crisis by taking various initiatives to reform the international financial architecture In particular, a 2014 Basel Committee on Banking Supervision paper explored the interaction between supervisors and external auditors and linked their enhanced relationships with improved audit quality of banks' financial statements and effective banking supervision. This report presents the findings of the survey conducted by the World Bank Centre for Financial Reporting Reform (CFRR) – Financial supervisors and external auditors: building a constructive relationship. The survey was sent to supervisors from the European Union and other countries in Eastern Europe, South Eastern Europe and the South Caucasus to explore practices that make better use of information provided by external auditors and influence the audit quality of banks' financial statements. The report was developed after several workshop discussions amongst senior staff from central banks and banking regulatory agencies, who recognized the importance of an effective relationship to assist both supervisors and auditors in discharging their duties.

The systemic risk potential in the European banking market has increased. Hence, the following questions emerge: Is there a need for a truly European supervisory framework? And, how should a potential European supervisor be organised? This paper evaluates the existing supervisory framework as well as the recent proposal by the Economic and Financial Committee of the EU with respect to the increased Europe-wide systemic risk. We argue that cooperation between national supervisors even in the new framework will not be sufficient for safeguarding financial stability. As a consequence, we argue in favour of a European observatory of systemic risk.

This paper examines the relationship between the quality of banking supervision and governance of the supervisory agency, based on assessments of the Basel Core Principles and the IMF Code on Transparency in Financial Policies, covering 116 and 53 countries, respectively, with 51 common to both. We find a positive correlation between the transparency of the supervisor and the effectiveness of banking supervision; moreover, better accountability and integrity practices of the banking supervisors are associated with higher independence, which in turn is associated with better compliance with the

This article analyses the economics of financing banking supervision and attempts to respond to two questions: What are the most common financing practices? Can the differences in current financing practices be explained by country specific factors? We perform an empirical analysis that identifies the determinants of the financing structure of banks´ prudential supervision using a sample of 90 banking supervisors (central banks and financial authorities). We conclude that supervisors in central banks are more likely publicly funded, while financial authorities are more likely funded via a levy on the regulated banks. The financing rule is also explained by the structure of the financial systems. Public funding is more likely in bank oriented structures. Finally, the geographical factor is also significant: European bank supervisors are more oriented towards the private funding regime. In general, we do not find evidence of the role of the political factor, the size of the economy, the level of development and the legal tradition

E-commerce involves not only banks and their customers, but also many third parties. The personal information detained by banks related to customers and their transactions change hands several times in the course of an electronic financial transaction. This information has to be protected by not only an institutional regulation but through an elaborated government law. The key challenge for e-banking is how to ensure proper legal protections for electronic financial transactions for both in local market and for cross-boarder transactions. The reliance on technology for the delivery channel of providing different electronic banking services is a considerable concern faced by regulators and e-banking supervisors. Indeed, the risks of data leakage and distortion are sufficiently high to warrant adequate legal and technical protection. An adequate Internet infrastructure as well as a legal and regulatory framework needs to be put in place by legal authorities in order to achieve an adequate sensitive information protection. This article attempts to highlight the importance of the legal aspect in electronic banking and to explore legal framework in force internationally and in Morocco particularly.

"This book offers a thorough overview, analysis and discussion of the liability regimes which apply to financial supervisors and resolution authorities at EU level, at the level of selected individual EU Member States and in major jurisdictions worldwide. It offers a unique and thorough access to a topic that is of great practical and theoretical importance. The book also contains a thorough comparative law evaluation"--

The EU is deliberating the introduction of an explicit ""European mandate"" for financial sector supervisors to supplement national mandates. Suggestions are made on (i) the formulation of a European mandate; (ii) the policy areas to which it should apply; (iii) which institutions should be given a European mandate; (iv) the legal basis for the mandate; (v) how to implement the mandate in practice; and (vi) how to achieve accountability for fulfilling a European mandate. Decisions on these issues are needed if the introduction of a European mandate is to have a substantive positive effect