Knowledge Base

← French, European, and International Institutional and Regulatory Framework

Questions

Which elements illustrate the tension between democratic legitimacy and technical expertise in financial governance? (Select two answers)

The ESAs represent the national authorities of Member States
The Basel Committee makes decisions by consensus without formal voting
The AMF has a Board that includes representatives of other French public institutions
The ESAs have a chairperson directly elected by European citizens

What is the distinctive feature of the organizational structure of the European Supervisory Authorities (ESAs) compared to national authorities?

Complete centralization of powers within a single body
A dual-headed structure combining national authority representation and operational management
An entirely decentralized organization to Member States
The absence of any permanent decision-making body

What is the distinctive feature of the FSB's legal status among international organizations?

It is a specialized agency of the United Nations
It functions as an informal forum without legal personality
It was established as a Swiss-law association in 2013
It is integrated within the World Bank

What are the specific powers of ESMA among the three ESAs?

Direct supervision of credit rating agencies and trade repositories
Development of the single banking rulebook
Development of Solvency II guidelines
Coordination of banking stress tests

The Basel Committee operates with a formal voting system for its decisions.

True
False

The Banque de France directly exercises banking supervision through the ACPR.

True
False

Categorize items by dragging them to the appropriate zones

Items to categorize:

Legitimacy through Member State representation
Consensus-based decisions without formal voting
Dual-headed structure with a Board of Directors
Categories:

European authorities (ESAs)

International institutions