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The 'ebb and flow' of transatlantic regulatory cooperation in banking

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JournalJournal of Banking Regulation
DatePublished - 1 Mar 2016
Issue number1-2
Volume17
Number of pages13
Pages (from-to)21-33
Original languageEnglish

Abstract

Do financial crises promote or hamper transatlantic regulatory cooperation in banking? This article argues that financial crises have an impact upon the alignment of regulatory preferences of the United States (US) and the European Union (EU), causing an 'ebb and flow' in transatlantic cooperation. When EU-US preferences are broadly aligned in periods of financial stability, transatlantic regulatory cooperation is intense. It is relatively easy for the EU and US to agree on market-friendly regulation promoted by banks. When preferences are different, especially in the context and aftermath of the exogenous shock of financial crises, transatlantic cooperation is more problematic because crises re-assert the importance of nationally embedded patterns of market organisation.

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© Palgrave Macmillan, a division of Macmillan Publishers Ltd 2016. This is an author-produced version of the published paper. Uploaded in accordance with the publisher’s self-archiving policy. Further copying may not be permitted; contact the publisher for details. Embargo period : 12 months

    Research areas

  • banks, Basel III, capital requirements, European Union, financial regulation, United States

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