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Banking Union as a shock absorber : lessons for the eurozone from the US

Author: Daniel Gros; Ansgar Belke; Centre for European Policy Studies (Brussels, Belgium),; Rowman and Littlefield, Inc.,
Publisher: Brussels : Centre for European Policy Studies (CEPS) ; London : Rowman & Littlefield International, [2015] ©2015
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
This book illustrates how the structure of the US banking market and the existence of federal institutions allowed regional financial shocks to be absorbed at the federal level in the US, thus avoiding local financial crisis. The authors argue that the experience of the US shows the importance of a 'banking union' to avoid severe regional (national) financial dislocation in the wake of regional boom and bust cycles.  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Banking Union As a Shock Absorber.
Centre for European Policy Studies 2015
(OCoLC)929588079
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Daniel Gros; Ansgar Belke; Centre for European Policy Studies (Brussels, Belgium),; Rowman and Littlefield, Inc.,
ISBN: 9781783485963 1783485965
OCLC Number: 933242546
Description: 1 online resource (ix, 82 pages) : color illustrations
Contents: List of Abbreviations --
Preface --
1. Introduction and motivation --
2. The macroeconomic stabilisation properties of a banking union: Some case studies --
2.1. Regional concentration of real estate cycles within a monetary union --
2.2. Ireland vs Nevada --
2.3. Florida: Another example of the US banking union in action --
2.4. Nevada vs Latvia --
3. Foreign-owned banks: A banking union substitute? The EU experience --
4. Who pays for the shock absorbers? --
4.1. FDIC --
4.2. Securitisation via US federal housing-market institutions --
4.3, Other (private label) securitisation --
4.4. Who pays in the end? The incidence of taxes in a competitive industry --
5. What to expect from the European banking union? --
6. Open issues for banking union --
6.1. Can the SRF survive without a fiscal backstop? --
6.2. How to discourage risk-taking via the contributions to the SRF --
6.3. Separating resolution and deposit insurance: Principles of a two-tier European deposit (re)insurance system --
6.4. Basic principles of reinsurance --
6.4.1. Compulsory reinsurance with a deductible --
6.4.2. Premiums and management --
6.4.3. Transition --
7. General considerations: Fiscal union and financial shock absorber --
8. Concluding remarks --
References --
Index --
Boxes, Figures and Tables --
Box 1. Contributions to a bank resolution fund: Conceptual underpinnings --
Box 2. The FDIC as an example for Europe? --
Figure 1. Development of the real estate sector--the US vs the euro area (1995-2012) --
Figure 2. Distribution of losses sustained by the FDIC from the 2007-08 sub-prime crisis (% of GSP) --
Figure 3. The boom-bust cycle: Nevada vs Ireland --
Figure 4. Irish government debt vs the state of Nevada and local debt (% of GSP) --
Figure 5. The boom-bust cycle in Florida vs Spain --
Figure 6. Distribution of the losses from the S&L crisis The boom-bust cycle in Nevada vs Latvia --
Figure 7. Distribution of the losses from the S&L crisis sustained by FDIC and precursors (% of GSP) --
Figure 8. The relative importance of deposits as a function of bank size --
Table 1. Key statistics on Ireland vs Nevada --
Table 2. Key statistics on Spain vs Florida --
Table 3. Selected credit characteristics of single-family conventional loans, by acquisition period (% of total).
Responsibility: Daniel Gros and Ansgar Belke.

Abstract:

This study investigates the shock-absorbing properties of a banking union. It makes a detailed comparison between the way in which banking unions have absorbed regional financial shock at the federal  Read more...

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