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Eu Banking Union – Recent Developments

Author

Listed:
  • Petre Prisecaru

Abstract

Measures to ensure the financial stability have contributed to a certain financial disintegrationwithin the Economic and Monetary Union (EMU), and currently still serious obstacles persist toremoving the fragmentation of the European financial system. The banking union was conceived as aprocess based on three pillars or components: a Single Supervision Mechanism (SSM), a SingleResolution Mechanism (SRM), and a harmonized system of deposit guarantee schemes. Whilelegislative and institutional construction has advanced rapidly on the first two pillars, there are someshortcomings regarding the harmonization of schemes on the third pillar. Our research aims topresent, through a qualitative analysis, the latest developments on the banking union, and highlightboth progress and the main obstacles that hinder its completion. In our opinion, one of the mainimpediments to achieving a full-fledged banking union is that European banks are faced with thedilemma of increasing assets by augmenting debt based on bonds, or by issuing shares in a period ofsevere decline in the quotations of financial instruments.

Suggested Citation

  • Petre Prisecaru, 2016. "Eu Banking Union – Recent Developments," Impact of Socio-economic and Technological Transformations at National, European and International Level (ISETT), Institute for World Economy, Romanian Academy, vol. 12.
    • Handle: RePEc:iem:imptrs:v:12:y:2016:id:2822000009619019
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    File URL: http://www.iem.ro/rem/index.php/itset/article/view/267/337
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    More about this item

    Keywords

    Economic and Monetary Union (EMU); supervision; resolution; stress tests; deposit guarantee; bonds; shares; capital; assets;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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