In Europe, financial markets have undergone significant regulatory changes since the last financial and sovereign debt crisis. One key element is the harmonization of rules for capital regulation, bank resolution and deposit insurance. In the euro area, the sizable change in the regulatory framework is also reflected by the establishment of the banking union. Another change that might have implications for financial structure is the establishment of a capital market union. Evidence-based policy making and the evaluation of (un-)intended consequences of such reforms needs information on when regulatory changes happen. In the European Union (EU), the cornerstones of regulatory changes that apply to all member states are implemented by means of regulations or directives. The latter ones have to be implemented, with some scope for discretion, into national law by the member states. This database assembles the dates at which countries have published the key legal document related to several recent directives affecting financial markets.
Data sources:
Capital Market Union Database of Directives and Regulations
A database of the legislative acts that implement the 2015 CMU Action Plan. The dataset includes a list of directives and regulations at the EU level with information on publication, entry into force, and transposition dates as well as brief descriptions. Data is gathered from EURLex and national official websites.
Data Provider: bankinglibrary.com; Halle Institute for Economic Research
Level/Frequency: EU-Level Data
Geographic Coverage: EU-27
Time Range: 2009-2020
Availability: Free access online
Downloads: TechnicalNote Excel Stata
Please cite: Emlein, Sfrappini, Tonzer, Zgherea (2022). Capital Markets Union: Database of Directives and Regulations. IWH Technical Reports 02/2022.
European Banking Union Directives Database
A database covering the transposition dates of the three capstone directives of the EBU: the Capital Requirements Directive IV (CRD IV), the Bank Recovery and Resolution Directive (BRRD), and the Deposit Guarantee Scheme Directive (DGSD). These three directives, along with the Capital Requirements Regulation (CRR), constitute the Single Rulebook that serves as the foundation on which the three pillars of the EBU rest: the Single Supervisory Mechanism (SSM), the Single Resolution Mechanism (SRM) and the Harmonised Deposit Guarantee Scheme. One key feature of the directive transposition process is that although the EU sets a uniform transposition deadline, most member states of the European Union (EU) delay the national policy change. For a description of the data collected see Krause, Sfrappini, Tonzer, Zgherea (2024). Data is gathered from EURLex and national official websites.
Data Provider: bankinglibrary.com; Halle Institute for Economic Research
Level/Frequency: EU-Level Data
Geographic Coverage: EU-27
Time Range: 2013-2020
Availability: Free access online
Downloads: Working Paper, Excel CRDIV, Stata CRDIV, Excel BRRD, Stata BRRD, Excel DGSD, Stata DGSD
Please cite: Krause, Sfrappini, Tonzer, Zgherea (2024). How do EU banks’ funding costs respond to the CRD IV? An assessment based on the banking union directives database. IWH Discussion Papers No. 12/2024.