Abstract FYI attached as additional material. OUTLINE OF THE PAPER:1. INTRODUCTION1.1. EBU significance1.2. Strategic and political context1.3. EU sovereign debt crisis as a historical momentum2. FROMATION AND DESIGN2.1. Political support (2012 Summit)2.2. Different proposals and Lamfalussy Report2.3. Three main pillars2.4. Single Rulebook an EU-wide regulatory basis2.5. Macroprudential component a systemic layer2.6. ESM an adjunct backstop2.7. Complexity arising from EU and Euro Area jurisdictions3. SSM3.1. Regulatory framework3.1.1. SSM Regulation, SSM Framework Regulation3.1.2. European single Rulebook CRR/CRD3.2. Scope3.2.1. Microprudential supervision3.2.2. Significant institutions – direct3.2.3. Less significant institutions indirect3.2.4. {Potential cooperation in other areas}, conglomerates3.3. Governance structure3.3.1. ECB (Governing council and Supervisory Board)3.3.2. NCAs3.3.3. JSTs4. SRM4.1. Regulatory framework4.1.1. SRM Regulation and Intergovernmental Agreement4.1.2. European single Rulebook BRRD4.2. Scope4.2.1. Participants = SSM4.3. Governance structure4.3.1. Single Resolution Board4.3.2. Single Resolution Fund4.3.3. Coordination with SSM4.4. Functions4.4.1. Recovery (cooperation with ECB)4.4.2. Resolution5. EDIS5.1. Relevance of an envisaged DGS5.2. Existing EU-wide framework5.3. Proposed EBU legal framework for EDIS5.4. Political opposition to Eurozone-wide deposit guarantee5.5. Progress and delays6. EBU: ACHIEVED GOALS6.1. Breaking the vicious-circle between sovereigns and their banks6.2. Prevented escalation of the EU crisis in the short term6.3. Formed long-term basis for an efficient functioning of a supranational EBU6.4. Established legal and operational incentives for long-term path towards truly EU banking system7. EBU: GENERAL ACHIEVEMENTS AND PROBLEMS7.1. Controversial legal basis in the Maastricht Treaty7.2. Progress needed in establishing level-playing-field for the EU banking sector7.3. Uneven dynamic of key EBU elements7.4. SSM: Identified gaps and inadequacies7.4.1. ECA report basic findings (accountability)7.4.2. Governance structure and independence of Supervisory Board7.4.3. Lacking resources and know-how7.4.4. Diverse national directives as problem for JSTs7.5. SRM: Identified gaps and inadequacies7.5.1. ECA report basic findings7.5.2. SRB governance issues7.5.3. SRF fund fully operational by 20247.5.4. National legislative differences (eg. resulting from transposition of BRRD and insolvency procedures)8. EBU: CHALLENGES AHEAD8.1. Political and economic tensions8.1.1. Global and regional geopolitical shifts, trend away from multilateralism8.1.2. EU-supranationalism in crisis, lack of trust, Brexit, banking nationalism8.2. Delay due to Covid-19 crisis9. EBU: POTENTIAL OPPORTUNITIES9.1. EDIS completion as a sign of progress and confidence9.2. SSM and SRM additional capacity building9.3. Single Rulebook harmonization elimination of regulatory fragmentation, adequate response to fintechs and shadow banking9.4. EBU future expansion (Croatia and Bulgaria)10. CONCLUSION10.1. Contribution to EU financial internal market integration10.2. Necessity to recognize and assign adequate priority to remaining EBU gaps BIBLIOGRAPHY:
Use the order calculator below and get started! Contact our live support team for any assistance or inquiry.
[order_calculator]