During the early Nineties, the international financial community was profoundly shaken by the collapse of the Bank of Commerce and Credit International (BCCI). This collapse, the result of frauds of immense proportions, has focused attention on the problems of the reinforcement or modification of banking controls, and has thus triggered important measures both at a national level, in Great Britain, the epicentre of the earthquake, and internationally, by the Basle Committee on Banking Supervision for the banks of the G-10 countries, and by the European Community, which has produced a new Directive intended to reinforce the tools available for banking supervision.This article sets out to make an initial analysis of the main innovations introduced by the new EC Directive, currently Common Position 24/94 dated 6 June 1994, which should obtain final approval early in 1995 1. These new Community regulations are better known as the "Post-BCCI Directive" because the proposal was drawn up in response to the problems of control which emerged from the BCCI affair. In order to discuss this topic, we must first briefly retrace the history of the BCCI, because the lessons it teaches are behind this EC intervention in the area of supervision.
|Anno di pubblicazione:||1995|
|Titolo:||The Post-BCCI EC DirectiveRevue de la Banque, Bank-en Financiewezen”, n. 4 April 1995|
|Autori:||E. Gualandri; F. Vella|
|Appare nelle tipologie:||Articolo su rivista|
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