Balancing macro- and microprudential powers in the SSM during the COVID-19 crisis

Bart Joosen

Balancing macro- and microprudential powers in the SSM during the COVID-19 crisis

Bart Joosen

Research output: Chapter in Book / Report / Conference proceeding › Chapter › Academic › peer-review

Abstract

In this Chapter, the implementation of specific measures by the ECB and the National Competent Authorities to offer capital and liquidity relief to banks after the outbreak of the COVID-19 pandemic are being discussed. It is highlighted that the measures implemented throughout Europe are very divergent and lack an uniform approach. This may be related to the fact that the Single Supervisory Mechanism by design maintained the allocation of powers and authorities to the national competent authorities in respect of macroprudential supervision. This contribution challenges this allocation of powers and authorities and suggests that further centralisation with the ECB is warranted.

Original language	English
Title of host publication	Pandemic Crisis and Financial Stability
Editors	Christos Gortsos, Georg Ringe
Publisher	European Banking Institute
Chapter	10
Pages	339-360
Number of pages	22
Publication status	Published - 1 May 2020

Keywords

Prudential Supervision
Banks
Microprudential
Macroprudential
Single Supervisory Mechansim
ECB
COVID 19
Pandemic Crisis Measures
Capital Requirements

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

https://recofise.eu/wp-content/uploads/2020/05/Joosen-Balancing-macro-and-microprudential-powers-in-the-SSM-during-the-COVID-19-crisis-in-Gortsos-and-Ringe-ed-Pandemic-crisis-and-financial-stability.pdfLicence: Unspecified

Persistent URL (handle)

Persistent link

Cite this

Joosen, B. (2020). Balancing macro- and microprudential powers in the SSM during the COVID-19 crisis. In C. Gortsos, & G. Ringe (Eds.), Pandemic Crisis and Financial Stability (pp. 339-360). European Banking Institute. https://recofise.eu/wp-content/uploads/2020/05/Joosen-Balancing-macro-and-microprudential-powers-in-the-SSM-during-the-COVID-19-crisis-in-Gortsos-and-Ringe-ed-Pandemic-crisis-and-financial-stability.pdf

@inbook{b890900c5e89434da73901a62655cefd,

title = "Balancing macro- and microprudential powers in the SSM during the COVID-19 crisis",

abstract = "In this Chapter, the implementation of specific measures by the ECB and the National Competent Authorities to offer capital and liquidity relief to banks after the outbreak of the COVID-19 pandemic are being discussed. It is highlighted that the measures implemented throughout Europe are very divergent and lack an uniform approach. This may be related to the fact that the Single Supervisory Mechanism by design maintained the allocation of powers and authorities to the national competent authorities in respect of macroprudential supervision. This contribution challenges this allocation of powers and authorities and suggests that further centralisation with the ECB is warranted.",

keywords = "Prudential Supervision, Banks, Microprudential, Macroprudential, Single Supervisory Mechansim, ECB, COVID 19, Pandemic Crisis Measures, Capital Requirements",

author = "Bart Joosen",

year = "2020",

month = may,

day = "1",

language = "English",

pages = "339--360",

editor = "Christos Gortsos and Georg Ringe",

booktitle = "Pandemic Crisis and Financial Stability",

publisher = "European Banking Institute",

}

Joosen, B 2020, Balancing macro- and microprudential powers in the SSM during the COVID-19 crisis. in C Gortsos & G Ringe (eds), Pandemic Crisis and Financial Stability . European Banking Institute, pp. 339-360. <https://recofise.eu/wp-content/uploads/2020/05/Joosen-Balancing-macro-and-microprudential-powers-in-the-SSM-during-the-COVID-19-crisis-in-Gortsos-and-Ringe-ed-Pandemic-crisis-and-financial-stability.pdf>

TY - CHAP

T1 - Balancing macro- and microprudential powers in the SSM during the COVID-19 crisis

AU - Joosen, Bart

PY - 2020/5/1

Y1 - 2020/5/1

N2 - In this Chapter, the implementation of specific measures by the ECB and the National Competent Authorities to offer capital and liquidity relief to banks after the outbreak of the COVID-19 pandemic are being discussed. It is highlighted that the measures implemented throughout Europe are very divergent and lack an uniform approach. This may be related to the fact that the Single Supervisory Mechanism by design maintained the allocation of powers and authorities to the national competent authorities in respect of macroprudential supervision. This contribution challenges this allocation of powers and authorities and suggests that further centralisation with the ECB is warranted.

AB - In this Chapter, the implementation of specific measures by the ECB and the National Competent Authorities to offer capital and liquidity relief to banks after the outbreak of the COVID-19 pandemic are being discussed. It is highlighted that the measures implemented throughout Europe are very divergent and lack an uniform approach. This may be related to the fact that the Single Supervisory Mechanism by design maintained the allocation of powers and authorities to the national competent authorities in respect of macroprudential supervision. This contribution challenges this allocation of powers and authorities and suggests that further centralisation with the ECB is warranted.

KW - Prudential Supervision

KW - Banks

KW - Microprudential

KW - Macroprudential

KW - Single Supervisory Mechansim

KW - ECB

KW - COVID 19

KW - Pandemic Crisis Measures

KW - Capital Requirements

M3 - Chapter

SP - 339

EP - 360

BT - Pandemic Crisis and Financial Stability

A2 - Gortsos, Christos

A2 - Ringe, Georg

PB - European Banking Institute

ER -