Macroprudential Banking Supervision & Monetary Policy
Legal Interaction in the European Union
Authors: Amorello, Luca
Free Preview- Explores the interaction of macroprudential and monetary policy in banking supervision under a legal perspective
- Proposes a legal approach to monetary policy and explores the EU legal framework
- Investigates interactions and conflicts between macroprudential and monetary policies under the current regime
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- About this book
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The European experience suggests that the efforts made to achieve an efficient trade-off between monetary policy and prudential supervision ultimately failed. The severity of the global crisis have pushed central banks to explore innovative tools—within or beyond their statutory constraints—capable of restoring the smooth functioning of the financial cycle, including setting macroprudential policy instruments in the regulatory toolkit. But macroprudential and monetary policies, by sharing multiple transmission channels, may interact—and conflict—with each other. Such conflicts may represent not only an economic challenge in the pursuit of price and financial stability, but also a legal uncertainty characterizing the regulatory developments of the EU macroprudential and monetary frameworks. In analyzing the “legal interaction” between the two frameworks in the EU, this book seeks to provide evidence of the inconsistencies associated with the structural separation of macroprudential and monetary frameworks, shedding light upon the legal instruments that could reconcile any potential policy inconsistency.
- About the authors
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Luca Amorello currently works as an Associate at Cleary Gottlieb Steen & Hamilton LLP in London, UK. He received a LLM from Harvard Law School, USA, a PhD/Dr. jur. in Law and Economics of Money and Finance from Goethe University, House of Finance, Germany, and a LLB/LLM from University of Trieste Law School, Italy. Prior to joining Cleary Gottlieb, Luca worked at the European Central Bank, the Bank of Italy, and Hogan Lovells LLP.
- Table of contents (6 chapters)
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Introduction
Pages 1-10
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Law and Economics of Macroprudential Banking Supervision
Pages 11-107
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A Legal Approach to Monetary Policy
Pages 109-203
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Policy Interactions and Conflicts
Pages 205-264
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The Legal Interaction in the EU Institutional Framework
Pages 265-336
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Table of contents (6 chapters)
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Bibliographic Information
- Bibliographic Information
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- Book Title
- Macroprudential Banking Supervision & Monetary Policy
- Book Subtitle
- Legal Interaction in the European Union
- Authors
-
- Luca Amorello
- Copyright
- 2018
- Publisher
- Palgrave Macmillan
- Copyright Holder
- The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG, part of Springer Nature
- eBook ISBN
- 978-3-319-94156-1
- DOI
- 10.1007/978-3-319-94156-1
- Hardcover ISBN
- 978-3-319-94155-4
- Softcover ISBN
- 978-3-030-06805-9
- Edition Number
- 1
- Number of Pages
- IX, 408
- Topics
