Alexandre Lamfalussy
Encyclopedia
Baron Alexandre Lamfalussy (born 1929), is a European economist and central banker.
Born in Hungary
, Lamfalussy studied at the Catholic University of Leuven
and Nuffield College, Oxford
, where he received his doctorate in economics. He later taught at the Université catholique de Louvain
and Yale
.
From 1976 he was an economic adviser to the Bank for International Settlements
in Basel
and held the post of assistant general manager from 1981 to 1985. He was then general director of the bank, where he remained until 1993.
From 1994 to 1997 he was founding president of the European Monetary Institute
in Frankfurt
, forerunner to the European Central Bank
.
From 2000 to 2001 he chaired the Committee of Wise Men on the Regulation of European Securities Markets, whose proposals were adopted by the Council of the European Union
in March 2001. As chair of the committee, he oversaw the creation of the Lamfalussy process
, an approach to the development of financial service industry regulation used most famously in MiFID - the Markets in Financial Instruments Directive.
Born in Hungary
Hungary
Hungary , officially the Republic of Hungary , is a landlocked country in Central Europe. It is situated in the Carpathian Basin and is bordered by Slovakia to the north, Ukraine and Romania to the east, Serbia and Croatia to the south, Slovenia to the southwest and Austria to the west. The...
, Lamfalussy studied at the Catholic University of Leuven
Catholic University of Leuven
The Catholic University of Leuven, or of Louvain, was the largest, oldest and most prominent university in Belgium. The university was founded in 1425 as the University of Leuven by John IV, Duke of Brabant and approved by a Papal bull by Pope Martin V.During France's occupation of Belgium in the...
and Nuffield College, Oxford
Nuffield College, Oxford
Nuffield College is one of the constituent colleges of the University of Oxford in England. It is an all-graduate college and primarily a research establishment, specialising in the social sciences, particularly economics, politics and sociology. It is a research centre in the social sciences...
, where he received his doctorate in economics. He later taught at the Université catholique de Louvain
Université catholique de Louvain
The Université catholique de Louvain, sometimes known, especially in Belgium, as UCL, is Belgium's largest French-speaking university. It is located in Louvain-la-Neuve and in Brussels...
and Yale
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
.
From 1976 he was an economic adviser to the Bank for International Settlements
Bank for International Settlements
The Bank for International Settlements is an intergovernmental organization of central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks." It is not accountable to any national government...
in Basel
Basel
Basel or Basle In the national languages of Switzerland the city is also known as Bâle , Basilea and Basilea is Switzerland's third most populous city with about 166,000 inhabitants. Located where the Swiss, French and German borders meet, Basel also has suburbs in France and Germany...
and held the post of assistant general manager from 1981 to 1985. He was then general director of the bank, where he remained until 1993.
From 1994 to 1997 he was founding president of the European Monetary Institute
European Monetary Institute
The European Monetary Institute was the forerunner of the European Central Bank , operating between 1994 and 1997.-History:The EMI was created 1 January 1994 to oversee the second stage in the creation of monetary union. The EMI itself took over from the earlier European Monetary Cooperation Fund...
in Frankfurt
Frankfurt
Frankfurt am Main , commonly known simply as Frankfurt, is the largest city in the German state of Hesse and the fifth-largest city in Germany, with a 2010 population of 688,249. The urban area had an estimated population of 2,300,000 in 2010...
, forerunner to the European Central Bank
European Central Bank
The European Central Bank is the institution of the European Union that administers the monetary policy of the 17 EU Eurozone member states. It is thus one of the world's most important central banks. The bank was established by the Treaty of Amsterdam in 1998, and is headquartered in Frankfurt,...
.
From 2000 to 2001 he chaired the Committee of Wise Men on the Regulation of European Securities Markets, whose proposals were adopted by the Council of the European Union
Council of the European Union
The Council of the European Union is the institution in the legislature of the European Union representing the executives of member states, the other legislative body being the European Parliament. The Council is composed of twenty-seven national ministers...
in March 2001. As chair of the committee, he oversaw the creation of the Lamfalussy process
Lamfalussy process
The Lamfalussy Process is an approach to the development of financial service industry regulations used by the European Union. Originally developed in March 2001, the process is named after the chair of the EU advisory committee that created it, Alexandre Lamfalussy...
, an approach to the development of financial service industry regulation used most famously in MiFID - the Markets in Financial Instruments Directive.