In the Czech Republic, however, a rigorous and unified financial market supervision system — and lessons learned from banking troubles a decade ago — have laid the foundations for a healthy sector.
Mr. Obama has vowed to reverse the deregulatory stance of the Bush administration and overhaul the entire system of financial supervision.
In November it published a survey claiming wide support for a more centralised system of financial supervision in Europe.
Its fragmented system of financial supervision has large loopholes and leaves plenty of room for financial firms to shop around for the weakest rules.
BRUSSELS -- After two days of tough talks, European Union leaders on Friday agreed on a sweeping overhaul of the European system of financial supervision and rekindled hopes that the Lisbon Treaty would come into force this year.
BRUSSELS — After two days of tough talks, leaders of the European Union said Friday that they had agreed on an overhaul of the European system of financial supervision and rekindled prospects that a treaty to strengthen the union will come into force this year.
(6c) 'Single supervisory mechanism (SSmeanseans a European system of financial supervision composed by the European Central Bank and national competent authorities of participating Member States as described in Article 5 of this regulation.
(6a) "Single supervisory mechanism (SSM)" means a European system of financial supervision composed by the European Central Bank and national competent authorities of participating Member States as described in article 5 of this regulation.
A report prepared for the European Commission called for the creation of two systems of financial supervision to provide early warning of financial crises.
I will then turn to a discussion of regulatory and supervisory practice, with particular attention to whether a more comprehensive, system-wide perspective in financial supervision is warranted.
* strengthen financial supervision to prevent the re-emergence in the financial system of excess credit growth and excess leverage and undertake macro prudential and regulatory policies to help prevent credit and asset price cycles from becoming forces of destabilization.
