Banking Union: State of Play and Proposals for the Way Forward

Bank of Greece Working Paper No. 303

DOI: https://doi.org/10.52903/wp2022303

61 Pages Posted: 6 Sep 2022 Last revised: 14 Sep 2022

See all articles by Kornilia Vikelidou

Kornilia Vikelidou

Aristotle University of Thessaloniki

Athanasios Tagkalakis

Bank of Greece; University of Patras

Date Written: August 1, 2022

Abstract

This paper examines the current state of play of the Banking Union project aiming at unveiling the weaknesses and gaps of this still incomplete framework. In this context, the implementation so far of the Banking Union legislation sheds light on the vulnerabilities concerning supervisory change, transparency, trust and a proper allocation of bank failure costs since all these criteria are deemed as essential contributing factors to promoting financial stability at European level. Taking into consideration the latest steps towards completing the Banking Union framework until June 2022, this paper aims at depicting the proposed leeway potentially capable to align resilience and flexibility with the view of mitigating any persisting shock-amplifying factor against financial stability.

Keywords: Banking Union, Single Supervisory Mechanism, Single Resolution Mechanism, European Deposit Insurance Scheme

JEL Classification: G21, G28, O52, E42, F33, F42

Suggested Citation

Vikelidou, Kornilia and Tagkalakis, Athanasios, Banking Union: State of Play and Proposals for the Way Forward (August 1, 2022). Bank of Greece Working Paper No. 303, DOI: https://doi.org/10.52903/wp2022303, Available at SSRN: https://ssrn.com/abstract=4198041 or http://dx.doi.org/10.2139/ssrn.4198041

Kornilia Vikelidou

Aristotle University of Thessaloniki ( email )

Thessaloniki
Greece
00306945333952 (Phone)

Athanasios Tagkalakis (Contact Author)

Bank of Greece ( email )

21 E. Venizelos Avenue
GR 102 50 Athens
Greece

University of Patras

Patra
Greece

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