The European Banking Union needs a single supervisor. Therefore, the establishment of the Single Supervisory Mechanism (SSM) is the first fundamental step in centralising powers over the banking sector within the Euro Area. This article examines the significant legal issues raised by the...

The UK has embarked upon a programme of reform that will result in the Financial Services Authority (FSA) being split into two separate authorities, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). A new BoE committee, the Financial Policy Committee (FPC),...

The UK is redesigning the institutional architecture of financial services supervision. The Financial Conduct Authority is meant to play a central role in the reformed system by delivering a new policy approach to the supervision of financial services conduct, which places considerable emphasis...

European Banking Union (EBU) is an odd construction born of compromises and shaped to fit into legal territory bounded by EU Treaty constraints that cannot be adjusted in the current political environment. Can EBU work in spite of the limitations of its design or is there dangerous papering over...

The European Banking Authority (EBA), an EU agency that works to ensure effective and consistent prudential regulation and supervision across the European banking sector as a whole, was established several years before the European Central Bank (ECB) became responsible for the prudential...

This chapter examines the prospects for effective cross-border resolution of failing systemically important banks. It begins by recalling the prevalence of national interests when cross-border banks were resolved in the financial crisis. It notes that in some cases foreign creditors benefitted...