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xiii | |
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xvi | |
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xli | |
Author Biographies |
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xlv | |
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xlvii | |
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1 The Economic Consequences of Europe's Banking Union |
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I The Impact so Far: A Shift of Expectations |
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3 | (17) |
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II Six Developments to Watch |
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20 | (44) |
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64 | |
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2 European Banking Union: Effectiveness, Impact, and Future Challenges |
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1 | (4) |
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II Single Supervisory Mechanism---Setting the Context |
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5 | (26) |
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III SSM and EU Agencies and Institutions |
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31 | (18) |
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IV Bank Resolution, the SSM, and the Single Resolution Board (SRB) |
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49 | (18) |
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V SSM, Macroprudential Tools, and National Competent Authorities |
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67 | (47) |
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VI Member State Perspectives on the SSM |
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114 | (7) |
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VII Banking Union and the Banking Industry |
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121 | (15) |
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136 | |
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3 Judicial Protection of Supervised Credit Institutions in the European Banking Union |
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II Judicial Protection for Credit Institutions under the SSM |
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7 | (1) |
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III Judicial Protection for Credit Institutions under the SRM |
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7 | (59) |
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IV Substantive Review by the CJEU |
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66 | (20) |
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V Liability of the ECB and the SRB |
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86 | (8) |
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94 | |
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II SINGLE SUPERVISION AND CRD IV |
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4 The Single Supervisory Mechanism for Banking Supervision: Institutional Aspects |
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I Historical Introduction |
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1 | (8) |
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II The New Regulatory Framework: The Banking Union |
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9 | (6) |
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III Applicable Bodies of Law in Banking Supervision |
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15 | (16) |
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IV The Choice of the ECB as the Prudential Supervisor |
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31 | (7) |
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V Application to the Euro Area or Beyond? |
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38 | (8) |
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VI The Single Supervisory Mechanism |
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46 | (58) |
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VII Legal Position of the Supervisory Board in the ECB |
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104 | (10) |
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VIII Independence and Accountability |
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114 | (22) |
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IX Review of SSM Decisions |
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136 | (7) |
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143 | |
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5 The Single Rulebook and the SSM: Regulatory Polycentrism vs. Supervisory Centralization |
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1 | (3) |
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II A Short History of the EU Regulatory Framework |
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4 | (13) |
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III The Allocation of Regulatory and Supervisory Powers |
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17 | (11) |
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IV The Decoupling of Regulatory and Supervisory Powers in the SSM |
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28 | (25) |
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V Evolutionary Dynamics of the EU Institutional Regulatory Framework |
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53 | (15) |
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68 | |
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6 CRD IV Framework for Banks' Corporate Governance |
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1 | (2) |
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II Banking Structures in the European Union |
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3 | (2) |
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III Historical Development |
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5 | (5) |
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IV CRD IV Corporate Governance Standards |
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10 | (36) |
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46 | (41) |
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87 | (19) |
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VII Conclusion and Outlook |
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106 | |
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7 Fit and Proper Assessments within the Single Supervisory Mechanism |
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1 | (1) |
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II Key Terms and Definitions |
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2 | (4) |
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III Fit and Proper Assessments as an Element of Corporate Governance |
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6 | (5) |
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IV Division of Responsibilities Between the Banks, the ECB, and the NCAs |
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11 | (12) |
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V Relevant Sources of Substantive Requirements |
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23 | (5) |
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28 | (50) |
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VII National Variations and Limits |
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78 | (18) |
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VIII Concluding Observations |
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96 | |
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8 The EU Framework Dealing with Non-Performing Exposures: Legal and Economic Analysis |
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1 | (13) |
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II Causes and Consequences of NPL Accumulations |
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14 | (7) |
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21 | (10) |
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IV Market-based Solutions: Asset Management Companies and NPL Platforms |
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31 | (7) |
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V Prudential and Supervisory Policies for Tackling NPLs |
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38 | (19) |
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57 | |
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III SINGLE RESOLUTION AND THE BRRD |
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9 Governance of the Single Resolution Mechanism |
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1 | (3) |
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4 | (42) |
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III Financing of the Fund |
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46 | (29) |
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75 | (46) |
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121 | |
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10 Recovery and Resolution Plans of Banks in the Context of the BRRD and the SRM: Fundamental Issues |
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II The Making of Recovery and Resolution Plans: A Theoretical Exercise? |
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3 | (14) |
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III Experience with Some Bank Failures |
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17 | (10) |
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IV Some Intermediate Conclusions |
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27 | (2) |
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V The Authority to Impose Ex Ante Measures |
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29 | (6) |
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VI Remedies Against Imposed Ex Ante Measures |
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35 | (4) |
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VII A Difficult Debate on the Need for Ex Ante Measures |
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39 | (10) |
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VIII The Wider Context in which Ex Ante Measures Are Imposed |
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49 | (16) |
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65 | (33) |
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X Some Concluding Comments |
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98 | |
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11 Bail-in: Preparedness and Execution |
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1 | (5) |
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II Bail-in: Main Features |
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6 | (6) |
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III Building-up Bail-in Preparedness: TLAC/MREL |
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12 | (37) |
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49 | |
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12 Bank Resolution in Practice: Analysis of Early European Cases |
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1 | (12) |
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II Crisis Management Pre-BRRD |
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13 | (7) |
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III Crisis Management in the Transition to the New EU Regime |
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20 | (10) |
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IV The New Regime: Crisis Management in Italy |
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30 | (10) |
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V The New Regime: The Resolution-like Liquidation of Venetian Banks |
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40 | (24) |
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VI The New Regime: Crisis Management in Spain |
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64 | (17) |
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81 | |
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13 The Architecture of die BRRD---A UK Perspective |
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1 | (3) |
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II Scope of the Legislation |
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4 | (11) |
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15 | (9) |
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24 | (13) |
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37 | (35) |
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72 | (5) |
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VII Brexit and Bank Resolution |
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77 | (5) |
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82 | |
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IV THE EUROPEAN DEPOSIT INSURANCE SYSTEM AND POLICY PERSPECTIVES |
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14 European Deposit Insurance System (EDIS): Cornerstone of the Banking Union or Dead End? |
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1 | (3) |
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II Why Is There a Need for a Fully-fledged Third Pillar in the Banking Union? |
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4 | (16) |
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III Legislative Proposals for EDIS |
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20 | (13) |
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IV Main Features of the EDIS Proposals |
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33 | (36) |
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69 | |
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15 Doom Loop or Incomplete Union? Sovereign and Banking Risk |
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Jose Manuel Mansilla-Fernandez |
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1 | (12) |
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13 | (9) |
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III What Was Done and Should Have Been Done? Banks and Sovereigns during the Crisis and the Specificities of a Monetary Union |
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22 | (24) |
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IV The Long Run Equilibrium: Sovereign Exposures under `Normal Conditions' |
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46 | (31) |
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V Summing-up, Transition, and Notes of Caution |
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77 | |
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16 Bank Resolution in Europe: The Unfinished Agenda of Structural Reform |
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1 | (7) |
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II The Regulatory Aftermath of 2007--2008 and the Emergence of EU Bank Resolution |
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8 | (17) |
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III The Path to Single Point of Entry Resolution in the US |
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25 | (10) |
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IV The US Path to Holding Companies |
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35 | (3) |
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V SPE for Europe: The Structural Reform Project |
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38 | (11) |
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49 | |
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17 Financial Conglomerates in the European Banking Union |
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1 | (4) |
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II Consolidated Supervision in the Banking Sector |
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5 | (4) |
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III Group Supervision in the Insurance Sector |
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9 | (6) |
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IV Consolidated Supervision vs Group Supervision |
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15 | (9) |
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V Background of Financial Conglomerate Supervision |
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24 | (5) |
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VI Institutional Framework for Conglomerate Supervision |
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29 | (5) |
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VII Purpose, Content, and Design of Conglomerate Supervision |
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34 | (29) |
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VIII Evolution of Financial Conglomerate Supervision |
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63 | (11) |
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IX Recovery and Resolution of Financial Conglomerates |
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74 | (15) |
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89 | (576) |
Index |
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665 | |