The idea of a Banking Union emerged in the aftermath of the global financial crisis. Ten years on, two of its three pillars, the Single Supervisory Mechanism and the Single Resolution Mechanism, have proven to be a success with regard to financial integration and stability. In this Policy Brief,...

Since its inception nearly a decade ago, the annual European System of Central Banks (ESCB) Legal Conference has become a vital forum for legal scholars, practitioners, supervisors, and central bankers. The 2024 edition of the ESCB Legal Conference builds on this tradition by addressing key...

Ongoing global trends like climate change require firms to invest in projects that support their transformation. In order to unlock the huge sums of private capital necessary for these investments, the engagement of institutional investors appears to be crucial. In a project funded by ZEW's...

It is with great pleasure that the European Central Bank (ECB) presents this updated digital compilation of Union legal acts on banking supervision. The digital compilation contains legal acts on banking supervision focusing primarily on the acts the ECB has adopted since the inception of the...

It is with great pleasure that the European Central Bank (ECB) presents this updated digital compilation of Union legal acts on banking supervision. The digital compilation contains legal acts on banking supervision focusing primarily on the acts the ECB has adopted since the inception of the...

The EU plans to revise the capital adequacy rules for banks in 2025. Regulatory amendments will be introduced in Norway through the EEA Agreement. Our results show that the regulatory amendments can significantly reduce the capital requirement for small and medium-sized banks (SA banks). This...

This brief paper addresses the overall direction of reform within a context of completing the European Banking Union (EBU) bearing in mind the outcome of the recent Eurogroup meeting of 16 June 2022. In that context it succinctly touches the three chief political commitments that came out of...

We investigate whether the bank crisis management framework of the European banking union can effectively bar the detrimental influence of national interests in cross-border bank failures. We find that both the internal governance structure and decision making procedure of the Single Resolution...

It is with great pleasure that the European Central Bank (ECB) presents this updated digital compilation of Union legal acts on banking supervision. The digital compilation contains legal acts on banking supervision focusing primarily on the acts the ECB has adopted since the inception of the...

It is with great pleasure that the European Central Bank (ECB) presents this updated digital compilation of Union legal acts on banking supervision. The digital compilation contains legal acts on banking supervision focusing primarily on the acts the ECB has adopted since the inception of the...

Conceived in the wake of the Global Financial Crisis, bail-in is the principal innovation of recent times in the area of bank crisis management. Bail-in enables a country’s banking authorities to force a failing bank’s immediate claimholders (specifically, its shareholders and certain, but...

The aim of this paper is to evaluate the potential consequences that the shortcomings in harmonising the national deposit guarantee schemes may have on the financial stability of the European Union. The relevance of this subject is underlined both by the European Commission's intention to revive...

The European macro-prudential policy framework operates at two levels. First, the ESRB has a legal responsibility for macro-prudential oversight in the EU. Second, various national and EU authorities have responsibility for the implementation of macro-prudential policy. The creation of a...

In May 2014, the European Commission published the Bank Recovery and Resolution Directive (BRRD). The directive introduces rules on bank resolution and restructuring including a bailin tool. It constitutes the legal foundation underlying the Single Resolution Mechanism (SRM). Member countries of...

This study develops on the status quo in relation to the assessment of resolvability of credit institutions and banking groups in the Banking Union and the removal of substantive impediments to their resolvability under the EU legal framework governing banking resolution, as in force, taking due...

In 2014, the EU established the single resolution mechanism (SRM) to ensure orderly resolution of failing banks with minimal burden to taxpayers, avoiding costly bail-outs. We assessed the appropriateness of the policy framework and organisational setup of resolution planning, as well as the...

In no other policy field has European integration advanced more rapidly over the past decade nor has the challenge of reconciling uniform rules with national diversity arisen more sharply than in financial regulation generally and banking supervision in particular. The creation of the Single...

Aim: The Banking Union is an important step towards a genuine Economic and Monetary Union. The strengthening of the European banking system has become a topic of debate since the 2008 crisis when it became clear that stability and security of the system security may require increased supervision...

The article provides an overview of the supranational bank resolution regime established under the Single Resolution Mechanism framework. Both the substantive rules governing the resolution process and its procedural requirements are explained. The main focus of the article is the...

European credit institutions are expected to pile up a relevant amount of non-performing loans (NPLs) as a consequence of the crisis provoked by the Covid-19 pandemic. Against this backdrop, one of the most critical issues at stake is whether credit institutions currently hold an amount of...