Download The European Banking Union: A Critical Assessment by Angelo Baglioni (auth.) PDF

By Angelo Baglioni (auth.)

Why did ecu policy-makers introduce the Banking Union? that are its major positive factors? How does it impact banks and their buyers? This publication attempts to reply to those questions, via offering a transparent description of the construction blocks of the banking union, and through discussing the problems that also stay unanswered.

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Sample text

Finally, Germany (see Fig. 6) is again a case where we may say that the transfer of risk went from the banking sector to government. 1), the German government is the one that in absolute terms spent the largest amount of money, among the European countries, in capital injections, and it committed an amount of resources in guarantees second only to Ireland. Of course, such amounts are not so large, in the international comparison, if measured as a ratio to GDP, but they are still quite significant.

2015a. Report on convergence of supervisory practices, London. EBA. 2015b. Accomplishment of the EBA Colleges Action Plan for 2014 and establishment of the EBA Colleges Action Plan for 2015, London. ECB. 2015. The fiscal impact of financial sector support during the crisis. ECB Economic Bulletin, Issue 6/2015. 9 See the conclusions of the June 2013 EU Council, reported at the beginning of this chapter.  Lemke. 2009. The Janus-headed salvation: Sovereign and bank credit risk premia during 2008-09.

In doing so, the EBA contributes to the definition of the so-called “European Single Rulebook,” that is, the set of common supervisory rules and practices that should be shared by all EU countries. In addition, the EBA acts as a mediator among the national authorities, as far as the supervision of cross-country banking groups is concerned. The mandate of the EBA has, of course, an interplay with that of the ECB: the latter has to apply the technical standards set by the former, at least as far as the significant banks are concerned.

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