National filters: Europeanisation, institutions, and discourse in the case of banking regulation

National systems of banking regulation in Europe faced a double challenge over the last decades: on the one hand, substantial changes in financial and banking markets provided new opportunities, but also posed new risks; on the other, attempts to create an integrated European financial market created a need to make different national systems compatible and congruent. Drawing on case studies of the British and German systems, the article charts developments since the mid-1970s and examines the impact of discursive and institutional factors on regulatory changes over 25 years.