Lessons of the crisis – the changing regulation of the European shadow banking system

  • Balázs Cseh Kaposvár University, Faculty of Economic Science, H-7400 Kaposvár Guba S. u. 40.
  • Ádám Patai Kaposvár University, Faculty of Economic Science, H-7400 Kaposvár Guba S. u. 40. KPMG Global Services Hungary, H-1134 Budapest, Vaci út 31.
Keywords: shadow banking, regulation, European Union, Basel III, AIFM directive

Abstract

This paper intends to present the changing regulation of the European shadow banking system by discussing the major European Union directives which have been created with the aim of treating the macro and microprudential risks that resulted from the international financial crisis between 2007 and 2009. Notably, 2009/111/EC (Basel III), 2011/61/EC (AIFM directive), 575/2013/EU as well as 648/2012/EU directives are examined in a way that on the basis of secondary sources, the paper aims to provide theoretical statements. This article also analyses the Hungarian regulation with the purpose of proving that it is basically the implementation of the directives mentioned above.

Published
2017-02-15
How to Cite
Cseh, B., & Patai, Ádám. (2017). Lessons of the crisis – the changing regulation of the European shadow banking system. Regional and Business Studies, 9(2), 9-18. Retrieved from http://journal.ke.hu/index.php/rbs/article/view/2267