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Part VI International Monetary Law and the International Financial Architecture, XLII International Regulation of the Banking Sector

From: Principles of International Economic Law (2nd Edition)

Matthias Herdegen

From: Oxford Public International Law (http://opil.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 22 February 2024

International investment law — International monetary law

This chapter examines the international regulation of the banking sector. First, it looks at the need for enhanced cooperation of supervisory authorities and for harmonized standards, arguing that the risks associated with the difference between States in standards for licensing and supervision of banks as well as in the implementation of existing standards might generate an international domino effect. Next, the chapter considers a number of supervisory authorities over banks with transnational activities. It also discusses the European Systemic Risk Board (ESRB), which was established for the macro-prudential oversight of the financial system of the European Union (EU). Finally, the chapter devotes a section to the so-called ‘Basel Accords’, which are standards formulated by the Basel Committee on Banking Supervision for the purpose of creating an adequate capital base of banks and risk management.

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