Resource title

EC banking regulation, centralization or national autonomy

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The EC internal banking market is operative since January 1993. Early evidence on the effects of European financial integration shows that major driving forces in industry's restructuring are competitive deregulation and taxation. Additional legislative work is needed to achive open and stable financial markets. Home country control of international banks need to be complemented by host country control. The deposit guarantee schemes should be modified by rendering insured deposits "first order claim". A European authority is needed to ensure that banks do not exploit domestic rents to subsidize international activities. Finally, tax evasion is an issue that remains to be addressed by the EC authorities

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en

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application/pdf

Resource resource URL

http://flora.insead.edu/fichiersti_wp/Inseadwp1994/94-13.pdf

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Copyright INSEAD. All rights reserved