This section of the European Commission website provides information on the Banking Union which was set up following the financial crisis to create a safer financial sector for the single market. The first two ‘pillars’ of the Banking Union are a single supervisory mechanism (SSM) and single resolution mechanism (SRM). These are explained on the site, and links are given to related documents and EU directives.
The Prudential Regulation Authority (PRA), part of the Bank of England, regulates banks and other financial services providers, in order to control financial risk and ensure that enough capital is held by each institution. It is one of two successors to the Financial Services Authority, the other being the Financial Conduct Authority. The PRA webpages provide consultation papers, policy statements and other publications.There is a link to the PRA Handbook, which contains regulations and guidance for regulated bodies.
The European Systemic Risk Board (ESRB) was set up by the European Commission in 2010 in response to the financial crisis. It has a mandate to “oversee risk in the financial system as a whole”. Together with the ESA and the EIOPA it forms part of the ESFS (European System of Financial Supervision). The main text of the site, the Annual Report and Board Recommendations are available in a wide range of European languages. Attached explanatory documents are in PDF format and are available in French, German, Italian, Spanish and Polish.
The European Insurance and Occupational Pensions Authority (EIOPA) forms part of the European System of Financial Supervision, together with two other supervisory authorities and the European Systemic Risk Board. Core responsibilities of this body include support of the stability of the financial system and protection of insurance policy holders and members/beneficiaries of pension schemes. Sections of its website cover background information, press releases and publications relating to the policies and work of the organisation. Full-text documents are provided, mainly in PDF format.
The EBA was established by regulation (EC) No. 1093/2010 of the European Parliament and officially took over responsibilities from the Committee of European Banking Supervisors on January 1st 2011. It is based in London. The site provides egislation and legal documents concerning the founding of the EBA and its role. There is also a wide selection of documents relating to aspects of financial supervision and the work of the Authority. These are mainly in English but the Annual Report is available in other EU languages.
Online document prepared by staff at the World Bank and the International Monetary Fund (IMF) in 2002 and made freely available on the IMF website. The document is concerned with the Core Principles for Effective Banking Supervision (BCP) which were introduced by the Basel Committee on Banking Supervision (BCBS) in 1997. This paper reviews the experience of the IMF and the World Bank who have conducted BCP compliance assessments in 60 countries. The paper looks at developments in the financial markets and in banking supervision. The document is presented in PDF format.
The Basel Committee on Banking Supervision (BCBS) is a committee of the Bank for International Settlements concerned with banking supervision issues. Members include officials from central banks who have responsibility for the supervision of banking business such as the Bank of England and the Financial Services Authority. The site provides access to publications of the BCBS including the Compendium of Basel Committee documents, a compilation of guidelines and standards set down by the Committee.
