The European Commission has published its proposals for the transfer of supervisory responsibilities to the European Central Bank, under Article 127(6) of the TFEU, providing a comprehensive and courageous ‘first step' towards a European banking union, the other steps being European deposit...

European financial regulation and supervision have undergone tremendous changes over the last years. The current institutional arrangements adopted in Europe, at both EU/eurozone and national level, are the results of an evolutionary process that was mainly driven in its recent phases by the...

This paper adds some new arguments to the thesis that the responsibility for banking supervision should be assigned to an agency formally separated by the Central bank. We also provide some additional evidence on the macro and microeconomic performance of OECD countries whose banking systems are...