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The Political Economy of European Banking Union$
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David Howarth and Lucia Quaglia

Print publication date: 2016

Print ISBN-13: 9780198727927

Published to Oxford Scholarship Online: October 2016

DOI: 10.1093/acprof:oso/9780198727927.001.0001

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Banking Regulation and the Single Rulebook

Banking Regulation and the Single Rulebook

Chapter:
(p.180) 9 Banking Regulation and the Single Rulebook
Source:
The Political Economy of European Banking Union
Author(s):

David Howarth

Lucia Quaglia

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198727927.003.0009

This chapter discusses the ‘regulatory’ element of Banking Union—namely, the single rulebook in banking. The chapter first discusses the main preferences of EU member states in the negotiations on the Basel III accord, which set new capital and liquidity rules for internationally active banks. It then examines the transposition of Basel III into the EU’s Capital Requirements Directive (CRD IV), arguing that some of the compromises on the definition of capital, the leverage ratio, and liquidity rules reached in the Basel III negotiations were reopened in the EU negotiations. Finally, it examines the recent EU legislation on bank structural reform. It is argued that member state government preferences on EU and national banking regulation and supervision continue to reflect significantly the configuration of national banking systems.

Keywords:   Banking regulation, banking legislation, Basel III, capital requirements directive, CRD, banking systems

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