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Convergence And Competition: The Case Of Bank Regulation In Britain And The United States, Heidi Mandanis Schooner, Michael Taylor
Convergence And Competition: The Case Of Bank Regulation In Britain And The United States, Heidi Mandanis Schooner, Michael Taylor
Scholarly Articles
Our article considers whether the existence of a global banking market has resulted in the convergence of bank supervisory policy among different nationally-based regulatory regimes. In particular, we consider whether regulatory authorities in the United States and Great Britain, as providers of regulatory services, compete on the basis of the "net regulatory benefit" (NRB) that they provide to their respective regulatees, i.e., banks. After a detailed examination of the history of bank regulation in the US and UK, we observe that there is no clear trend towards convergence by competition. We find that, while regulatory competition may play an important …