Macroprudential Banking Supervision & Monetary Policy

Legal Interaction in the European Union

Authors: Amorello, Luca

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  • 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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  • ISBN 978-3-319-94156-1
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Hardcover $119.99
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  • ISBN 978-3-319-94155-4
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Softcover $119.99
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  • ISBN 978-3-030-06805-9
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About this book

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

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)

Table of contents (6 chapters)
  • Introduction

    Pages 1-10

    Amorello, Luca

  • Law and Economics of Macroprudential Banking Supervision

    Pages 11-107

    Amorello, Luca

  • A Legal Approach to Monetary Policy

    Pages 109-203

    Amorello, Luca

  • Policy Interactions and Conflicts

    Pages 205-264

    Amorello, Luca

  • The Legal Interaction in the EU Institutional Framework

    Pages 265-336

    Amorello, Luca

Buy this book

eBook $89.00
price for USA (gross)
  • ISBN 978-3-319-94156-1
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $119.99
price for USA
  • ISBN 978-3-319-94155-4
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $119.99
price for USA
  • ISBN 978-3-030-06805-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.

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Bibliographic Information

Bibliographic Information
Book Title
Macroprudential Banking Supervision & Monetary Policy
Book Subtitle
Legal Interaction in the European Union
Authors
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