Banking Union: Aspects of the Single Supervisory Mechanism and the Single Resolution Mechanism Compared

17 Pages Posted: 28 Apr 2015

See all articles by Eddy Wymeersch

Eddy Wymeersch

Ghent University - Financial Law Institute; ECGI

Date Written: April 27, 2015

Abstract

The Banking Union is based on different components, partly on directives applicable throughout the EU, partly on two regulations applicable only in the euro states introducing the Single Supervisory Mechanism and the Single Resolution Mechanism. These regulations are based on a comparable pattern, with centralisation of decisions at the European level, and involvement of authorities in the member states. However, also for legal reasons, the centralisation is much stronger for prudential supervision that for resolution. Issues of cooperation between the two Mechanisms, and between the European level and the national level reveal some interesting analogies but also differences. Coordination and cooperation will be necessary to avoid conflicts.

Keywords: Banking Union, Banking supervision, Resolution, ECB, SSM

JEL Classification: G21, G28

Suggested Citation

Wymeersch, Eddy O., Banking Union: Aspects of the Single Supervisory Mechanism and the Single Resolution Mechanism Compared (April 27, 2015). ECGI - Law Working Paper No. 290/2015. Available at SSRN: https://ssrn.com/abstract=2599502 or http://dx.doi.org/10.2139/ssrn.2599502

Eddy O. Wymeersch (Contact Author)

Ghent University - Financial Law Institute ( email )

Universiteitstraat 4
Gent, B-9000
Belgium
+32 9 264 68 27 (Phone)
+32 9 264 68 55 (Fax)

HOME PAGE: http://www.law.ugent.be/fli

ECGI ( email )

c/o ECARES ULB CP 114
B-1050 Brussels
Belgium

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