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Rethinking the allocation of macroprudential mandates within the Banking Union – a perspective from east of the BU

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  • Katalin Mérő
  • Dóra Piroska

Abstract

This paper argues that reforms of the Banking Union should be aimed at increasing efficiency of the single market as well enhance financial stability in the European Union. We argue that this can only be achieved if the Banking Union becomes more accommodative to non-Eurozone Central and Eastern European countries. It can be achieved if within BU institutions, the allocation of competencies reflects the subsidiary demands of CEE governments. Using the example of macroprudential regulation, we develop a number of reform options that could result in the better functioning of the Single Supervisory Mechanism and thus benefit all EU member states.

Suggested Citation

  • Katalin Mérő & Dóra Piroska, 2018. "Rethinking the allocation of macroprudential mandates within the Banking Union – a perspective from east of the BU," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 21(3), pages 240-256, July.
    • Handle: RePEc:taf:jecprf:v:21:y:2018:i:3:p:240-256
    DOI: 10.1080/17487870.2017.1400435
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    Cited by:

    1. Szűcs, Gábor, 2023. "Halmai Péter (szerk.): A Gazdasági és Monetáris Unió jövője. Európai perspektívák. Ludovika Egyetemi Kiadó, Budapest, 2021 [Halmai Péter (ed.): The future of the Economic and Monetary Union. Europe," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(2), pages 233-241.
    2. Lisa Coiffard, 2018. "Independence of central banks after the crisis - focus on Hungary," IWE Working Papers 242, Institute for World Economics - Centre for Economic and Regional Studies.
    3. Mérő, Katalin, 2019. "Érdemes-e csatlakozniuk az európai bankunióhoz az euróövezeten kívüli tagállamoknak? [Is it worth non-euro member-states joining the European Banking Union?]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(5), pages 497-520.

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