REGULATORY ARBITRAGE X ONE SIZE FITS ALL: THE IMPLEMENTATION OF THE INTERNATIONAL BANKING REGULATION BETWEEN SCYLLA AND CHARYBDIS.

• Grant number: 12/12311-8
• Support Opportunities: Scholarships in Brazil - Master
• Start date: September 01, 2012
• End date: December 31, 2013
• Field of knowledge: Applied Social Sciences - Law
• Principal Investigator: Viviane Muller Prado
• Grantee: Vicente Piccoli Medeiros Braga
• Host Institution: Escola de Direito de São Paulo. Fundação Getúlio Vargas (FGV). São Paulo , SP, Brazil

Abstract

Considering that we are in a world in which the markets are integrated, while remaining regulated, the particularities of banking - fundamental for the quest of development, as also highly influenced by Law - stimulated the emergence of an international regulatory regime, through the works of the Basel Committee. Putting aside the discussion of the merit and effectiveness of the standards proposed by the Committee, in a context where many countries seek to implement them, it is reasonable to investigate which would be the adequate degree of discretion utilized in the implementation of the Committee recommendations. Because, if in one hand attention must be brought to the local specificities to guarantee the efficacy of the measures, in the other hand the regulatory arbitrage in a degree able to menace the soundness of the international banking system must be avoided. For that, the present project proposes the theoretical framing of the problem in the light of the bank regulation literature and of the tools provided by the Law and Development movement, which for years has studied the formulation of international standards and their implementation in diverse national contexts. Surpassing that, and as a fundamental step for a better approach of the subject, the analysis of cases that are able to express the peculiarities of the problem and maybe drawn some possible solutions is made.