The regulation of megabanks : legal frameworks of the USA and EU /

"Global systemically important banks are the largest, most complex and, in the event of their potential failure, most threatening banking institutions in the world. The global financial crisis was a turning point for global systemically important banks, many of which contributed to the outbreak...

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Bibliographic Details
Main Author: Parchimowicz, Katarzyna M. (Author)
Format: Electronic eBook
Language:English
Published: Abingdon, Oxon ; New York, NY : Routledge, [2022]
Series:Routledge research in finance and banking law.
Subjects:
Online Access:EBSCOhost
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100 1 |a Parchimowicz, Katarzyna M.,  |e author. 
245 1 4 |a The regulation of megabanks :  |b legal frameworks of the USA and EU /  |c Katarzyna M. Parchimowicz. 
264 1 |a Abingdon, Oxon ;  |a New York, NY :  |b Routledge,  |c [2022] 
264 4 |c ©2022 
300 |a 1 online resource (xiv, 231 pages) 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
490 1 |a Routledge research in finance and banking law 
500 |a Based on author's thesis (doctoral - Uniwersytet Wrocławski, 2021) issued under title: Regulation of global systemically important banks in the USA and in the EU. 
504 |a Includes bibliographical references and index. 
505 0 |a G-SIBs [globally systemically important banks] in the USA and in the EU : diversity, not unity -- G-SIBs and the Global Financial Crisis -- Regulation of G-SIBs in the USA and in the EU : overly general, but fixable? -- G-SIBs and supervisory discretion. 
520 |a "Global systemically important banks are the largest, most complex and, in the event of their potential failure, most threatening banking institutions in the world. The global financial crisis was a turning point for global systemically important banks, many of which contributed to the outbreak and severity of this downturn. The unfolding of the global financial crisis also revealed flaws and omissions in the legal framework applying to financial entities. In the context of global systemically important banks it clearly demonstrated that the legal regimes, both in the USA and in the EU, grossly ignored the specific character of these institutions and their systemic importance, complexity and individualism. As a result of this omission, these megabanks were long treated like any other smaller banking institution. Since the financial crisis legal systems have changed a lot since then on both sides of the Atlantic, global and national lawmakers have adopted new rules applying specifically to global systemically important banks to reduce their threat to financial stability. This book explores whether the regulatory frameworks related to G-SIBs are adequately tailored to their individualism in order to prevent them from exploiting overly general rules, as they did during the global financial crisis. Analysing the specific character and individualism of G-SIBs, in relation to their history, normal function, as well as their operations during the GFC the book the transformation of banking systems and the challenges and opportunities G-SIBs face, such as Big Tech competitors, climate-related requirements and the COVID-19 pandemic Taking a multidisciplinary approach which combines financial aspects of operations of G- SIBs and legal analysis the book describes G-SIB-oriented legal frameworks of the EU and the USA and assesses whether G- SIB individualism is adequately reflected, assessing trends in supervisory action when it comes to discretion in the G-SIB context to contribute to the ongoing discussions about international banking law, its problems and potential remedies to such persistent flaws"--  |c Provided by the publisher. 
545 0 |a Katarzyna M. Parchimowicz is Assistant Professor at the Academic Excellence Hub - Digital Justice Center (University of Wroclaw, Poland) and Associate Researcher at the European Banking Institute. 
588 |a Description based on online resource; title from title screen (viewed August 26, 2022). 
506 0 |a Open Access  |5 EbpS 
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650 0 |a Banks and banking, International  |x Law and legislation. 
650 0 |a Banks and banking, International  |x Law and legislation  |z United States. 
650 0 |a Banks and banking, International  |x Law and legislation  |z European Union countries. 
650 7 |a Banks and banking, International  |x Law and legislation.  |2 fast  |0 (OCoLC)fst00827112 
651 7 |a European Union countries.  |2 fast  |0 (OCoLC)fst01269470 
651 7 |a United States.  |2 fast  |0 (OCoLC)fst01204155 
653 |a Global systemically important banks 
776 0 8 |i Print version:  |a Parchimowicz, Katarzyna M.  |t Regulation of megabanks.  |d London ; New York : Routledge, Taylor & Francis Group, [2023]  |z 9781032233475  |w (DLC) 2022027801  |w (OCoLC)1346949825 
830 0 |a Routledge research in finance and banking law. 
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