The Regulatory and Supervisory Framework for Fixed Income Markets in Europe
This paper looks at the development and regulation of fixed income securities markets in Europe. Fixed income securities markets in Europe have historically been characterized by a number of national markets that were interconnected by way of forei...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, D.C.
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2004/05/4991828/regulatory-supervisory-framework-fixed-income-markets-europe http://hdl.handle.net/10986/14165 |
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okr-10986-141652021-04-23T14:03:21Z The Regulatory and Supervisory Framework for Fixed Income Markets in Europe Dumoulin, Hubert Grignon Kruse, Mogens ACCOUNTING ACCOUNTING STANDARDS AUTHORITY BORROWING BURDEN OF TAXES CAPITAL MARKETS CENTRAL BANKS CENTRAL INSTITUTION CITIZENS COMMISSIONS CONSUMER PROTECTION COUNCIL OF MINISTERS DEBT DECISION-MAKING DECISION-MAKING BODY ECONOMIC POLICIES EFFICIENT REGULATION EMISSIONS EMU EXCHANGE RATE EXCHANGE RATES EXECUTION FINANCIAL INFORMATION FINANCIAL INSTITUTION FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL SYSTEMS FISCAL FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET GOVERNMENT SECURITIES INCOME INITIAL PUBLIC OFFERINGS INSTITUTIONAL FRAMEWORK INSTITUTIONAL INVESTORS INSURANCE INTEGRITY INVESTMENT PRODUCTS LEGAL FRAMEWORK LEGAL OBSTACLES LEGAL SYSTEMS LEGISLATION LEGISLATIVE ACTS LEGISLATIVE FRAMEWORK LEGISLATIVE POWER LEGISLATIVE PROPOSALS LEVEL PLAYING FIELD LIBERALIZATION LIQUIDITY MARKET INSTRUMENTS MARKET INTEGRATION MEMBER STATES MINISTERS MONETARY POLICY NATIONAL LEVEL PENSION FUNDS PUBLIC DEBT RATIONALIZATION REGULATORY AGENCY REGULATORY FRAMEWORK REPRESENTATIVES SAVINGS SECURITIES SECURITIES MARKETS SECURITIZATION STOCK EXCHANGES SUPERVISORY FRAMEWORK TAX LAW TAX REGIME TAXATION TECHNOLOGICAL PROGRESS TRANSPARENCY VOTING FIXED INCOME MARKETS FIXED INCOME SECURITIES REGULATORY REFORM SUPERVISION INFRASTRUCTURE ARRANGEMENTS LEARNING BY DOING DEBT MARKETS This paper looks at the development and regulation of fixed income securities markets in Europe. Fixed income securities markets in Europe have historically been characterized by a number of national markets that were interconnected by way of foreign exchange markets. They are presently undergoing major changes in size, infrastructure, and regulation. The authors describe the current state of the ongoing European regulatory and supervisory reform and the main drivers behind it. They conclude that European fixed income securities market regulation and infrastructure are not (yet) homogeneous. In some countries fixed income market regulation has been developed after intense political reflections on ways and means of promoting safe and efficient capital markets. In other countries, fixed income market regulation is a product of learning-by-doing (such as ad hoc reflections based on negative market experiences and financial scandals). To illustrate the heterogeneity in the European fixed income markets, the authors include two examples: France as an example of a country from the euro area, and Denmark as an example of a country outside the euro area. 2013-06-25T14:39:07Z 2013-06-25T14:39:07Z 2004-05 http://documents.worldbank.org/curated/en/2004/05/4991828/regulatory-supervisory-framework-fixed-income-markets-europe http://hdl.handle.net/10986/14165 English en_US Policy Research Working Paper;No.3308 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, D.C. Publications & Research :: Policy Research Working Paper Publications & Research Europe and Central Asia |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING ACCOUNTING STANDARDS AUTHORITY BORROWING BURDEN OF TAXES CAPITAL MARKETS CENTRAL BANKS CENTRAL INSTITUTION CITIZENS COMMISSIONS CONSUMER PROTECTION COUNCIL OF MINISTERS DEBT DECISION-MAKING DECISION-MAKING BODY ECONOMIC POLICIES EFFICIENT REGULATION EMISSIONS EMU EXCHANGE RATE EXCHANGE RATES EXECUTION FINANCIAL INFORMATION FINANCIAL INSTITUTION FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL SYSTEMS FISCAL FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET GOVERNMENT SECURITIES INCOME INITIAL PUBLIC OFFERINGS INSTITUTIONAL FRAMEWORK INSTITUTIONAL INVESTORS INSURANCE INTEGRITY INVESTMENT PRODUCTS LEGAL FRAMEWORK LEGAL OBSTACLES LEGAL SYSTEMS LEGISLATION LEGISLATIVE ACTS LEGISLATIVE FRAMEWORK LEGISLATIVE POWER LEGISLATIVE PROPOSALS LEVEL PLAYING FIELD LIBERALIZATION LIQUIDITY MARKET INSTRUMENTS MARKET INTEGRATION MEMBER STATES MINISTERS MONETARY POLICY NATIONAL LEVEL PENSION FUNDS PUBLIC DEBT RATIONALIZATION REGULATORY AGENCY REGULATORY FRAMEWORK REPRESENTATIVES SAVINGS SECURITIES SECURITIES MARKETS SECURITIZATION STOCK EXCHANGES SUPERVISORY FRAMEWORK TAX LAW TAX REGIME TAXATION TECHNOLOGICAL PROGRESS TRANSPARENCY VOTING FIXED INCOME MARKETS FIXED INCOME SECURITIES REGULATORY REFORM SUPERVISION INFRASTRUCTURE ARRANGEMENTS LEARNING BY DOING DEBT MARKETS |
| spellingShingle |
ACCOUNTING ACCOUNTING STANDARDS AUTHORITY BORROWING BURDEN OF TAXES CAPITAL MARKETS CENTRAL BANKS CENTRAL INSTITUTION CITIZENS COMMISSIONS CONSUMER PROTECTION COUNCIL OF MINISTERS DEBT DECISION-MAKING DECISION-MAKING BODY ECONOMIC POLICIES EFFICIENT REGULATION EMISSIONS EMU EXCHANGE RATE EXCHANGE RATES EXECUTION FINANCIAL INFORMATION FINANCIAL INSTITUTION FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL SYSTEMS FISCAL FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET GOVERNMENT SECURITIES INCOME INITIAL PUBLIC OFFERINGS INSTITUTIONAL FRAMEWORK INSTITUTIONAL INVESTORS INSURANCE INTEGRITY INVESTMENT PRODUCTS LEGAL FRAMEWORK LEGAL OBSTACLES LEGAL SYSTEMS LEGISLATION LEGISLATIVE ACTS LEGISLATIVE FRAMEWORK LEGISLATIVE POWER LEGISLATIVE PROPOSALS LEVEL PLAYING FIELD LIBERALIZATION LIQUIDITY MARKET INSTRUMENTS MARKET INTEGRATION MEMBER STATES MINISTERS MONETARY POLICY NATIONAL LEVEL PENSION FUNDS PUBLIC DEBT RATIONALIZATION REGULATORY AGENCY REGULATORY FRAMEWORK REPRESENTATIVES SAVINGS SECURITIES SECURITIES MARKETS SECURITIZATION STOCK EXCHANGES SUPERVISORY FRAMEWORK TAX LAW TAX REGIME TAXATION TECHNOLOGICAL PROGRESS TRANSPARENCY VOTING FIXED INCOME MARKETS FIXED INCOME SECURITIES REGULATORY REFORM SUPERVISION INFRASTRUCTURE ARRANGEMENTS LEARNING BY DOING DEBT MARKETS Dumoulin, Hubert Grignon Kruse, Mogens The Regulatory and Supervisory Framework for Fixed Income Markets in Europe |
| geographic_facet |
Europe and Central Asia |
| relation |
Policy Research Working Paper;No.3308 |
| description |
This paper looks at the development and regulation
of fixed income securities markets in Europe. Fixed income
securities markets in Europe have historically been
characterized by a number of national markets that were
interconnected by way of foreign exchange markets. They are
presently undergoing major changes in size, infrastructure,
and regulation. The authors describe the current state of
the ongoing European regulatory and supervisory reform and
the main drivers behind it. They conclude that European
fixed income securities market regulation and infrastructure
are not (yet) homogeneous. In some countries fixed income
market regulation has been developed after intense political
reflections on ways and means of promoting safe and
efficient capital markets. In other countries, fixed income
market regulation is a product of learning-by-doing (such as
ad hoc reflections based on negative market experiences and
financial scandals). To illustrate the heterogeneity in the
European fixed income markets, the authors include two
examples: France as an example of a country from the euro
area, and Denmark as an example of a country outside the
euro area. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Dumoulin, Hubert Grignon Kruse, Mogens |
| author_facet |
Dumoulin, Hubert Grignon Kruse, Mogens |
| author_sort |
Dumoulin, Hubert Grignon |
| title |
The Regulatory and Supervisory Framework for Fixed Income Markets in Europe |
| title_short |
The Regulatory and Supervisory Framework for Fixed Income Markets in Europe |
| title_full |
The Regulatory and Supervisory Framework for Fixed Income Markets in Europe |
| title_fullStr |
The Regulatory and Supervisory Framework for Fixed Income Markets in Europe |
| title_full_unstemmed |
The Regulatory and Supervisory Framework for Fixed Income Markets in Europe |
| title_sort |
regulatory and supervisory framework for fixed income markets in europe |
| publisher |
World Bank, Washington, D.C. |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2004/05/4991828/regulatory-supervisory-framework-fixed-income-markets-europe http://hdl.handle.net/10986/14165 |
| _version_ |
1764430519557160960 |