European Central Bank regulation on European banking Market

Abstract

The essay aims to offer a reflection on the ECB's regulatory contribution to banking supervision. To limit the scope of the investigation, a definition of regulation is proposed, term whose conceptual scope is affected by multiple interpretations in the literature, as well as the influence exerted by the anglophone regulation, which however is based on a different historical, cultural and legal substratum. In the absence of a regulatory definition, the chosen interpretation of the concept of regulation is inspired by the teachings of the best Italian liberal doctrine; it includes all interventions aimed at introducing and encouraging compliance with the rules, in order to pursue certain interests. In light of the chosen definition, some of the ECB's powers regarding banking supervision appear attributable to regulatory activity. The ECB, which is not a regulatory body, adopts general binding acts (regulations and decisions) and non-binding acts (expectations, guides, letters, etc.), which in any case have an undoubted conformative effect; the regulation adopted is presented as multilevel, prudential, technical. It follows that the contribution offered by the ECB to the regulation of the banking market, appears widespread and broad, and is also manifested through atypical forms of intervention, whose conforming effectiveness extends to the point of touching the outlines of the regulatory precepts.