Schoenmaker, Dirk, (2015), “Firmer Foundations for a Stronger European Banking Union”, Bruegel Institute, November
The Banking Union is a milestone in European banking integration. While supervision of European banks by national supervisors was loosely coordinated through the European Banking Authority (EBA), the Banking Union has positioned the European Central Bank (ECB) as centralised supervisor of the European banks, initially in the euro area. The Banking Union creates a paradigm shift for the various stakeholders. French and Dutch banks become euro-area banks. National supervisors work together with the ECB in the Single Supervisory Mechanism (SSM), with the ECB ultimately in charge.
Relevant Posts
- , Konstantinos, (2015), “The quest for banking stability in the euro area: The role of government interventions”, Journal of International Financial Markets, Institutions and Money, 25 September
- Lannoo, Karel, (2015), “The Great Financial Plumbing: From Northern Rock to Banking Union”, CEPS Paperbacks, 19 October