No. 955 - A pragmatic approach to simplification: the case of banking regulation in the EU
This paper contributes to the ongoing discussion on the simplification of financial regulation, which has gained momentum in recent months in the international debate, particularly in Europe. After giving an overview of European prudential regulation and the different root causes of regulatory complexity, the paper proposes a methodological framework to guide simplification efforts, and a series of possible interventions.
The analysis focuses on bank prudential regulation and identifies the overarching objectives that should underpin simplification initiatives (including the effectiveness and stability of rules and the reduction of the burden for banks). Based on these objectives, the paper outlines a number of potential measures that could be taken in the short or medium term (e.g. on various aspects of prudential regulation and the structure of capital requirements).
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