Non-Performing Loans

2019 ◽  
Author(s):  
Florian Manz
Keyword(s):  
Capital Market ◽  
Banking Industry ◽  
Research Papers ◽  
Risky Assets ◽  
Regulatory Policies ◽  
Debt Capital ◽  
European Regulatory ◽  
Security Pricing ◽  
European Equity ◽  
The Eu

Based on the recent European regulatory policies on non-performing loans (NPL), the dissertation ‘Non-Performing Loans: Determinants—Default—Divestiture’ presents four stand-alone research papers on the determinants, default and divestiture of NPL, which explore the effectiveness of the proposed restructuring mechanisms. To begin with, determinants of the situation described by the term NPL are diligently examined, with the author employing a systematic literature review at the levels of macroeconomics, banks and loans. Subsequently, three empirical research studies are devoted to an analysis of security pricing in reaction to NPL divestiture activity in the European equity and debt capital market. The results offer the banking industry as well as the EU and its member states a nuanced idea of how to deal with large amounts of risky assets in times of constantly changing economic circumstances.

A Global Perspective on Securitized Debt

2018 ◽  
Author(s):  
Steven L Schwarcz
Keyword(s):  
United States ◽  
Financial Crisis ◽  
Capital Market ◽  
Global Financial Crisis ◽  
The United States ◽  
Global Perspective ◽  
Capital Markets Union ◽  
The Global Financial Crisis ◽  
Asset Backed Securities ◽  
The Eu

Securitisation represents a significant worldwide source of capital market financing. European investors commonly invest in asset-backed securities issued in U.S. securitisation transactions, and vice versa One of the key goals of the European Commission's proposed Capital Markets Union (CMU) is to further facilitate securitisation as a source of capital market financing as a viable alternative to bank-based finance for companies operating in the EU. To that end, this chapter explains securitisation and attempts to put its rise, its decline after the global financial crisis, and its recent CMU-inspired revival into a global perspective. It examines not only securitisation's relationship to the financial crisis but also post-crisis comparative regulatory approaches in the EU and the United States.

scholarly journals Differences between the European Union and United States of America in Drug Regulatory Affairs Affect Global Patient Safety Standards and Public Health Awareness: The Case of Deferasirox and Other Iron Chelating Drugs

Medicines ◽  
2021 ◽  
Vol 8 (7) ◽  
pp. 36
Author(s):  
George J. Kontoghiorghes
Keyword(s):  
Patient Safety ◽  
Generic Drugs ◽  
Benefit Assessment ◽  
Regulatory Control ◽  
Pharmaceutical Companies ◽  
The European Union ◽  
Regulatory Policies ◽  
Regulatory Affairs ◽  
Risk Benefit Assessment ◽  
The Eu

Regulatory policies on drugs have a major impact on patient safety and survival. Some pharmaceutical companies employ all possible methods to achieve maximum sales in relation to the monopoly of their patented drugs, leading sometimes to irregularities and illegal activities. Misinformation on the orphan drug deferasirox has reached the stage of criminal investigations and fines exceeding USD 100 million. Additional lawsuits of USD 3.5 billion for damages and civil fines were also filed by the FBI of the USA involving deferasirox and mycophenolic acid, which were later settled with an additional fine of USD 390 million. Furthermore, a USD 345 million fine was also settled for bribes and other illegal overseas operations including an EU country. However, no similar fines for illegal practises or regulatory control violations have been issued in the EU. Misconceptions and a lack of clear guidelines for the use of deferasirox in comparison to deferiprone and deferoxamine appear to reduce the effective treatment prospects and to increase the toxicity risks for thalassaemia and other iron loaded patients. Similar issues have been raised for the activities of other pharmaceutical companies promoting the use of new patented versus generic drugs. Treatments for different categories of patients using new patented drugs are mostly market driven with no clear safeguards or guidelines for risk/benefit assessment indications or for individualised effective and safe optimum therapies. There is a need for the establishment of an international organisation, which can monitor and assess the risk/benefit assessment and marketing of drugs in the EU and globally for the benefit of patients. The pivotal role of the regulatory drug authorities and the prescribing physicians for identifying individualised optimum therapies is essential for improving the survival and safety of millions of patients worldwide.

Consumer Safety

2012 ◽  
Author(s):  
David Vogel
Keyword(s):  
United States ◽  
Regulatory Policy ◽  
The United States ◽  
Pharmaceutical Regulation ◽  
Regulatory Policies ◽  
Consumer Safety ◽  
Safety Risks ◽  
European Regulatory ◽  
Drug Lag ◽  
Important Exception

This chapter analyzes European and American policies toward a range of consumer safety risks; including drugs, children's products, and cosmetics. It shows how European and American risk regulations have converged, though the dynamics through which this occurred differed substantially. Pharmaceutical regulation constitutes the most important exception to the broader pattern of increased transatlantic regulatory policy divergence. What makes this area of regulatory policy distinctive is that its political salience increased in the United States but not in Europe. Pharmaceutical regulation also represents an important exception to the dominant pattern of transatlantic regulatory policy diffusion. In this case, European regulatory policies did affect those of the United States, first by highlighting the transatlantic drug lag, and more recently by American decisions to adopt some European practices to expedite drug approvals.

Balancing Competence and Control

2020 ◽  
pp. 180-202 ◽  
Author(s):  
Felix Biermann ◽  
Berthold Rittberger
Keyword(s):  
Food Safety ◽  
Case Studies ◽  
Regulatory Networks ◽  
Focal Point ◽  
Aviation Safety ◽  
Regulatory Agencies ◽  
Member States ◽  
European Regulatory ◽  
And Control ◽  
The Eu

In recent decades the EU has witnessed a remarkable rise in the number of specialized regulatory agencies and European regulatory networks (ERNs). It is often assumed that agencies and ERNs are mutually exclusive instruments of indirect governance. As this chapter argues, however, they are often used in combination to better address competence–control tradeoffs. The chapter illustrates this argument with two case studies of regulatory policymaking in the EU. First, in the case of aviation safety, the EU and its member states created a new agency, the European Aviation Safety Agency, to overcome a control deficit which had hampered its ability to rein in existing regulatory networks. Second, in the field of food safety, the EU as collective governor sought to overcome the competence deficit of its intermediary, the European Food Safety Agency, by enlisting a second intermediary: the “Focal Point Network” (an ERN).

Schizophrenic Stakes of GMO Regulation in the European Union

2012 ◽  
Vol 3 (2) ◽  
pp. 202-211 ◽  
Author(s):  
Claudio Mereu
Keyword(s):  
Genetically Modified Organisms ◽  
Detailed Examination ◽  
Regulatory Framework ◽  
The European Union ◽  
Eu Legislation ◽  
European Institutions ◽  
Depth Analysis ◽  
The World ◽  
European Regulatory ◽  
The Eu

EU legislation on genetically modified organisms (GMOs) is the most stringent legislation governing the matter in the world, laying down strict conditions relating to labelling, traceability, threshold and release on the market. In light of a recent Commission proposal to amend Directive 2001/18, which currently regulates the release of GMOs on the European market, this article asks whether and on what basis such stringency is justified. This is done through an in depth analysis of the EU regulatory framework for GMOs while at the same time highlighting the multiple interests at stake (environmental, scientific, industrial, political, national and European).This article argues that the European institutions should proceed to amend Directive 2001/18 on the basis of a detailed examination of the benefits as well as the risks that GMOs present. This article, however, raises concern that the European regulatory framework will focus exclusively on the risks or on political concerns relating to GMOs instead, for it is a fear of GMOs that seems to permeate the system from top to bottom.

Comment on Risk versus Hazard – How to Regulate in the 21st Century

2011 ◽  
Vol 2 (2) ◽  
pp. 193-195
Author(s):  
Dennis Paustenbach ◽  
Julie Panko
Keyword(s):  
21St Century ◽  
Regulatory Process ◽  
Regulatory Framework ◽  
Individual Member ◽  
Technical Knowledge ◽  
Market Place ◽  
Current State ◽  
European Regulatory ◽  
The Individual ◽  
The Eu

In this issue of the journal, Dr. Ragnar Lofstedt examines the current state of the EU regulatory framework with respect to chemicals and illustrates how the hazard-based approach sealed the fate of two important chemicals in the EU market-place. He also explores how the attitudes, technical knowledge and economic influences of the individual member states determine the outcome of environmental and chemical regulations. Lastly, Dr. Lofstedt provides some recommendations to improve consistency in the European regulatory process and ensure greater scientific, as well as, risk-based regulations.

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