Edited by Ramses A. Wessel and Jed Odermatt
Chapter 19: Financial Stability Board (FSB), Bank for International Settlements (BIS) and Financial Market Regulation Bodies
International standardsetting bodies in the financial sphere are informal and have national competent authorities as members, rather than national governments. The European Central Bank is the primary representative of the EU in international standardsetting bodies, either in its capacity as a central bank, or as a bank supervisor. Elsewhere, the European Commission is often granted observer status, while advisory and coordination bodies such as the European Supervisory Authorities for banking, insurance and securities markets are sometimes allowed to observe as well. In both cases, authorities from EU Member States sit alongside their EU counterparts. While they primarily use these international bodies to plan out compromises as a soft law basis for further EU standards and legislation, intractable conflicts between EU Member States can also render international bodies unable to produce further global standards.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.