Will bank supervision in Ohio and Austria be similar? A transatlantic view of the Singl... - 0 views
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At the inception of the euro, it was thought possible to have a centralised monetary authority and decentralised bank supervision, but the inability to separate sovereign-debt problems from those of bank stability has led the leaders of the member states of the EU to agree to centralise supervision in the Single Supervisory Mechanism.
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The states retained their powers to supervise the small number of state-chartered banks that seemed little threat to the stability of the new more tightly regulated national system.
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What was not anticipated was that the more stable national banks would fail to adequately supply credit to the economy.
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