The Capital Markets Union (CMU) is a flagship project of the European Commission that promotes a deepening of the financial markets. It aims at opening up new sources of funding for SMEs, as well as improving the matching between savers and borrowers. Additionally, CMU is supposed to increase...

The aim of this study is to assess the robustness of a full-fledged, integrated Economic and Monetary Union, under the hypothesis of a foreseeable crisis scenario. An empirical econometric model is designed, which captures from a behavioural perspective the relationship between the...

On 23rd February 2017, SUERF and EY organized a conference on "Brexit and the Implications for Financial Services" at EY's offices, Churchill Place, Canary Wharf, London. While the outcome of the Brexit negotiations remains highly uncertain, the conference discussed the burning questions for...

The post-crisis financial services regulatory overhaul, and, particularly, the creation of the European System of Financial Supervision (ESFS) and the Banking Union mechanisms, has increased the complexity of the EU's financial supervisory architecture. In this new system, financial supervision...

As a result of the establishment of the Single Supervisory Mechanism, the ECB was vested with significant supervisory tasks in the prudential field. The ECB exercises these tasks with a view to contribute to the safety and soundness of credit institutions and the stability of the financial...

Home country control has been a long-standing principle of supervisory governance in the internal market. However, in the wake of the financial crisis the principle has come under stress. This paper looks at ways to deal with home country control by putting forward for discussion a new paradigm...