Reference : The ‘ebb and flow’ of transatlantic regulatory cooperation in banking
Scientific journals : Article
Law, criminology & political science : Political science, public administration & international relations
The ‘ebb and flow’ of transatlantic regulatory cooperation in banking
Howarth, David mailto [University of Luxembourg > Faculty of Language and Literature, Humanities, Arts and Education (FLSHASE) > Identités, Politiques, Sociétés, Espaces (IPSE) >]
Quaglia, Lucia mailto [> >]
Journal of Banking Regulation
Palgrave Macmillan Ltd.
Yes (verified by ORBilu)
United Kingdom
[en] Basel III ; financial regulation ; capital requirements ; European Union ; United States
[en] Do financial crises promote or hamper transatlantic regulatory cooperation in banking? This
article argues that financial crises have an impact upon the alignment of regulatory preferences of the United States (US) and the European Union (EU), causing an ‘ebb and flow’ in transatlantic cooperation. When EU-US preferences are broadly aligned in periods of financial stability, transatlantic regulatory cooperation is intense. It is relatively easy for the EU and US to agree on market-friendly regulation promoted by banks. When preferences are different, especially in the context and aftermath of the exogenous shock of financial crises,
transatlantic cooperation is more problematic because crises re-assert the importance of nationally embedded patterns of market organisation.

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