Banking Union and Brexit: the challenge of geography

Pierre Schammo

Chapter 6 in The European Banking Union and the Role of Law, 2019, pp 87-106 from Edward Elgar Publishing

Abstract: The decision-making governance of the European Central Bank (ECB) has evolved with the creation of the Single Supervisory Mechanism (SSM). The Supervisory Board is nested in a semi-rigid institutional setting of the ECB, where different decision-making procedures steer the operations and strategies of the SSM. The legal framework of ECB decision-making and its legal nature are contextualised in EU secondary law and SSM law, including a comparison with the European Commission’s decision-making procedures. The evolutions observed are all geared towards ensuring efficiency in the ECB decision-making governance, in a context of inflation and diversity of supervisory decisions. Thus, decision-making arrangements cover not only a standard non-objection procedure from the Governing Council but also a second path with a delegation framework. This alternative route, operational since 2017, allows the delegation of decision-making powers to ECB’s management for specific types of supervisory decisions. Finally, the ECB’s responsibility for the oversight over the functioning of the system is essential in the SSM governance. The Chapter looks at diverse supervisory actions and tools the ECB uses in its relationships with the National Competent Authorities to ensure an effective and consistent functioning of the SSM.

Keywords: Economics and Finance; Law - Academic (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/view/edcoll/9781788972017/9781788972017.00011.xml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:18485_6

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().