April 12, 2021

Financial Markets Directives Database

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.