Central Banks as a Bank Supervisor (eBook)

Abstract 6
Index of abbreviations 12
Central banks as a bank supervisor, a comparison of the function of the Bank of England, the Federal Reserve and the European Central Bank 1
1. Introduction 18
2. The Central Banks and their function 20
3. The Bank of England 28
3.1. Historical background 28
3.2. Banking Act 1998 30
3.3. The Financial Services Modernisation Act 2000 30
3.4. Banking Act 2008 and 2009 33
3.5. The Financial Services Act 2010 34
3.6. Financial Services Bill 2012 35
3.6.1. The Financial Policy Committee 38
3.6.2. The Prudential Regulation Authority 39
3.6.3. The Financial Conduct Authority 40
3.7. Financial Services Act 2012 41
3.8. The Financial Services Act 2013 42
3.9. Assessment 43
4. The Federal Reserve 46
4.1. Historical background 46
4.2. The US financial system and the Federal Reserve Act 49
4.3. Gramm-Leach-Bliley Act 1999 53
4.4. Commodity Futures Modernisation Act 2000 54
4.5. Emergency Economic Stabilisation Act 2008 55
4.6. White Paper on Financial Regulatory Reform 2009 56
4.7. Dodd-Frank Act 2010 57
4.8. Assessment 60
5. The European Central Bank 64
5.1. Historical background and responsibilities 64
5.2. The new European System of Financial Supervision 66
5.2.1. The Role of the European Central Bank 68
5.2.2. Evaluation 68
5.3. European Banking Union 69
5.3.1. Introducing of the SSM and the Proposals of the European Commission for conferring supervision tasks on the ECB and the new EBA 70
5.3.1.1. Requirements of the European Parliament 72
5.3.1.2. Political Agreement in the European Council 73
5.3.1.3. Problematic issues 76
5.3.1.3.1. Article 127(6) TFEU 76
5.3.1.3.2. Competences of the ECB, the ESRB and the EBA 79
5.3.1.3.3. Democratic Legitimacy 81
5.3.1.3.4. Scope of Supervision 82
5.3.2. Single Resolution Mechanism 83
5.3.3. Single Rulebook 84
5.3.4. European Deposit Insurance Scheme 85
5.4. Assessment 89
6. Conclusion 92
Bibliography 98
Cases: 98
Acts of Parliaments and Statutory Instruments: 98
Textbooks and monographs: 100
Journal articles: 102
Working papers: 105
Unbenannt 2