European banking and financial law code

Major financial crises have always been a catalyst for legislative reforms.
Yet in the aftermath of the global financial crisis and sovereign debt crisis in several Member States, the overhaul of the regulations governing the activities of credit institutions, investment companies, and the functioning of financial markets at the European level was unprecedented. The new Banking Union led to a complete overhaul of the supervision of the banking system and the introduction of an entirely new regulatory regime for prevention of systemically important bank failures. In addition, the new regulatory regime provides for orderly resolution mechanisms in the event of such failures. In the meantime, large parts of the “shadow banking system” were placed under supervision. Taking account of the recommendations of the Financial Stability Board and the Basel Committee on Banking Supervision, and taking stock of the U.S. experience, the European Union seeks to develop an innovative and advanced regulatory framework. These developments inevitably led to a level of integration at which European standards increasingly reduced the scope of regulation by the Member States.

Despite the fact that it is indispensible for all academics, students, and professionals to have a thorough understanding of these developments, mastery of this complex arsenal of EU rules and regulations has become a real challenge. By bringing together in one book, the main regulatory texts (called level 1) concerning the regulation and supervision of credit institutions, investment companies, and financial markets, this thematic code offers a holistic view of a subject matter which is getting increasingly richer and more complex.