Shifts in Competences between Member States and the EU in the New Supervisory System for Credit Institutions and Their Consequences for Judicial Protection

24 Pages Posted: 21 Jan 2015

See all articles by Laura Wissink

Laura Wissink

De Nederlandsche Bank; Utrecht University - School of Law

Ton P.W. Duijkersloot

Utrecht University - School of Law

R.J.G.M. Widdershoven

Utrecht University - Faculty of Law

Date Written: December 12, 2014

Abstract

The Single Supervisory Mechanism (SSM) is a striking example of the tendency within the EU to transfer decisive, regulatory and enforcement powers to the EU level. The SSM involves a complex system of mixed administration in order to ensure effective banking supervision within the Eurozone. Whereas such mixed administration might be necessary in order to achieve effective cross-border supervision, it also creates legal uncertainties due to the different legal orders involved. In this paper, the effect of the mixed administration on formal and substantive judicial protection is discussed.

The paper analyses the right of access to the courts in the case of common procedures and certain ECB decisions. Furthermore, it is examined whether the ECB and national competent authorities have adequate powers to carry out supervision within the SSM. Lastly, the paper pursues the issues with regard to substantive judicial protection in greater depth, in particular the right of respect for the home and the rights of defence.

Keywords: Single Supervisory Mechanism, SSM, legal protection, judicial protection, banking supervision, mixed administration

Suggested Citation

Wissink, Laura and Duijkersloot, Ton P.W. and Widdershoven, R.J.G.M., Shifts in Competences between Member States and the EU in the New Supervisory System for Credit Institutions and Their Consequences for Judicial Protection (December 12, 2014). Utrecht Law Review, Vol. 10, No. 5, p. 92-115, December 2014, Available at SSRN: https://ssrn.com/abstract=2552577

Laura Wissink (Contact Author)

De Nederlandsche Bank ( email )

PO Box 98
1000 AB Amsterdam
Amsterdam, 1000 AB
Netherlands

Utrecht University - School of Law ( email )

3508 TC Utrecht
Utrecht
Netherlands

Ton P.W. Duijkersloot

Utrecht University - School of Law ( email )

3508 TC Utrecht
Utrecht
Netherlands

R.J.G.M. Widdershoven

Utrecht University - Faculty of Law ( email )

Janskerkhof 3
Utrecht, 3512 BK
Netherlands

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