“…The picture thus far has been spelt out very much in terms of individual countries that have an ability to bring all the relevant aspects within their own jurisdiction. This plainly does not apply in Europe, whether in individual countries such as Switzerland Hü pkes (2003), the EU/EEA or the euro area Brouwer et al (2003). Substantial parts of the operations of banks being supervised lie in other countries while substantial operations in the jurisdictions of the individual member states are actually run by financial institutions that are supervised in other member states.…”
Section: Discussionmentioning
confidence: 99%
“…In general the EU is not well organized for handling problems with cross-border institutions. Although the responsibility for consolidated supervision and deposit insurance may be clear and Memoranda of Understanding exist for the sharing of information among supervisors, it is not at all clear how the failure of a major cross-border bank would be handled (Brouwer et al, 2003).…”
Section: Cross-border Complicationsmentioning
confidence: 99%
“…Although the issues may have been adumbrated by Brouwer et al (2003) it is by no means clear that they are well on the way to be addressed.…”
“…The picture thus far has been spelt out very much in terms of individual countries that have an ability to bring all the relevant aspects within their own jurisdiction. This plainly does not apply in Europe, whether in individual countries such as Switzerland Hü pkes (2003), the EU/EEA or the euro area Brouwer et al (2003). Substantial parts of the operations of banks being supervised lie in other countries while substantial operations in the jurisdictions of the individual member states are actually run by financial institutions that are supervised in other member states.…”
Section: Discussionmentioning
confidence: 99%
“…In general the EU is not well organized for handling problems with cross-border institutions. Although the responsibility for consolidated supervision and deposit insurance may be clear and Memoranda of Understanding exist for the sharing of information among supervisors, it is not at all clear how the failure of a major cross-border bank would be handled (Brouwer et al, 2003).…”
Section: Cross-border Complicationsmentioning
confidence: 99%
“…Although the issues may have been adumbrated by Brouwer et al (2003) it is by no means clear that they are well on the way to be addressed.…”
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