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The Global Financial Crisis (GFC) revealed critical weaknesses in the regulatory frameworks of major jurisdictions, underscoring the need for comprehensive reform across the banking, insurance, asset management, and mortgage sectors. The international dialogue on regulatory reform aims to strengthen financial stability, transparency, and customer confidence. In the UK, the Financial Services and Markets Act (FSMA) 2000 initially streamlined regulations but proved inadequate during the GFC, leading to the establishment of the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) in 2012. Following Brexit, the UK introduced the Financial Services Act 2021 to adapt EU laws for domestic application and later passed the Financial Services and Markets Act 2023 to address post-Brexit financial market challenges. In India, regulatory oversight is divided among the Reserve Bank of India (RBI) for banking, SEBI for securities, IRDA for insurance, and PFRDA for pensions. Key legislation, including the SARFAESI Act 2002 and Insolvency and Bankruptcy Code (IBC) 2016, coupled with RBI’s asset classification and restructuring guidelines, aim to enhance financial market stability. Ireland’s regulatory system operates under the Single Supervisory Mechanism (SSM), where the Central Bank of Ireland (CBI) collaborates with the European Central Bank (ECB). EU legislation, along with national codes, supports Ireland’s financial resilience. This chapter compares these regulatory frameworks, assessing their effectiveness in managing non-performing loans (NPLs) and analysing the regulatory capabilities to mitigate financial market distress, besides critically analysing and comparing their insolvency and bankruptcy legislation.

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Non-Performing Loans and Regulatory and Supervisory Responses

  • 章节

  • 发表日期：

    2025年

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  • Ayush Dimri

摘要

The Global Financial Crisis (GFC) revealed critical weaknesses in the regulatory frameworks of major jurisdictions, underscoring the need for comprehensive reform across the banking, insurance, asset management, and mortgage sectors. The international dialogue on regulatory reform aims to strengthen financial stability, transparency, and customer confidence. In the UK, the Financial Services and Markets Act (FSMA) 2000 initially streamlined regulations but proved inadequate during the GFC, leading to the establishment of the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) in 2012. Following Brexit, the UK introduced the Financial Services Act 2021 to adapt EU laws for domestic application and later passed the Financial Services and Markets Act 2023 to address post-Brexit financial market challenges. In India, regulatory oversight is divided among the Reserve Bank of India (RBI) for banking, SEBI for securities, IRDA for insurance, and PFRDA for pensions. Key legislation, including the SARFAESI Act 2002 and Insolvency and Bankruptcy Code (IBC) 2016, coupled with RBI’s asset classification and restructuring guidelines, aim to enhance financial market stability. Ireland’s regulatory system operates under the Single Supervisory Mechanism (SSM), where the Central Bank of Ireland (CBI) collaborates with the European Central Bank (ECB). EU legislation, along with national codes, supports Ireland’s financial resilience. This chapter compares these regulatory frameworks, assessing their effectiveness in managing non-performing loans (NPLs) and analysing the regulatory capabilities to mitigate financial market distress, besides critically analysing and comparing their insolvency and bankruptcy legislation.