The Regulation of Megabanks: Legal Frameworks of the USA and Eu Parchimowicz Katarzyna
Global systemically important banks (G-SIBs) are the largest, most complex and, in the event of their potential failure, most threatening banking institutions in the world. The Global Financial Crisis…
Specifikacia The Regulation of Megabanks: Legal Frameworks of the USA and Eu Parchimowicz Katarzyna
Global systemically important banks (G-SIBs) are the largest, most complex and, in the event of their potential failure, most threatening banking institutions in the world. The Global Financial Crisis (GFC) was a turning point for G-SIBs, many of which contributed to the outbreak and severity of this downturn. The unfolding of the GFC also revealed flaws and omissions in the legal framework applying to financial entities. In the context of G-SIBs, it clearly demonstrated that the legal regimes, both in the USA and in the EU, grossly ignored the specific character of these institutions and their systemic importance, complexity, and individualism. As a result of this omission, these megabanks were long treated like any other smaller banking institutions.Since the GFC, legal systems have changed a lot on both sides of the Atlantic, and global and national lawmakers have adopted
Financial Regulation in the EU