Core Principles for Effective Banking Supervision: New Concepts and Challenges
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Michael P. Malloy, Core Principles for Effective Banking Supervision: New Concepts and Challenges, in Selected Legal Issues in Economics 11 (David A. Frenkel, ed., Athens Inst. for Educ. and Res. 2014).
This paper examines certain fundamental issues raised by the existence and application of the newly revised Core Principles for Effective Banking Supervision. First, what expectations are imposed upon jurisdictions that adopt the Core Principles? Second, are the Core Principles an effective response to the international financial crisis? Third, what is the legal status of the Core Principles–mere guidelines, a significant new source of law in international practice, or something in between? The paper argues that the Core Principles represents a distinctive and highly effective approach to the coordination of legal norms across borders that, in the context of international banking practice, may operate as a set of functionally binding norms – and possibly a new source of law in international practice.
Athens Institute for Education and Research
Banking and Finance Law | International Law | Law
Malloy, Michael P., "Core Principles for Effective Banking Supervision: New Concepts and Challenges" (2014). McGeorge School of Law Scholarly Books. 5.