The Concept of Systemic Importance in European Banking Union Law

Pablo Iglesias-Rodríguez ()
Additional contact information
Pablo Iglesias-Rodríguez: University of Sussex

Chapter 9 in The Palgrave Handbook of European Banking Union Law, 2019, pp 183-211 from Springer

Abstract: Abstract This paper examines the meaning of the concept of systemic importance and its role in the European Banking Union’s (EBU) institutional setting. It shows that this concept is treated inconsistently across the EBU pillars. The paper identifies various factors that determine such an inconsistent treatment: first, there is a lack of a common European Union (EU) legal definition of systemic importance applicable to the various pillars of the EBU; secondly, the European Central Bank (ECB), the Single Resolution Board (SRB) and the European Commission (EC) engage in divergent and inconsistent interpretations of the meaning of systemic importance; and, thirdly, in the EBU, systemic importance is given an asymmetrical role in the shaping of Single Supervisory Mechanism (SSM) supervision and Single Resolution Mechanism (SRM) resolution. In order to address these inconsistencies, this paper proposes, on the hand, a greater harmonisation of the concept of systemic importance in EBU law and, on the other hand, a redefinition of the powers of the SRB in bank resolution.

Keywords: European Banking Authority (EBA); European Banking Union (EBU); European Central Bank (ECB); Single Resolution Mechanism (SRM); Single Supervisory Mechanism (SSM); Systemic Importance (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:spr:sprchp:978-3-030-13475-4_9

Ordering information: This item can be ordered from
http://www.springer.com/9783030134754

DOI: 10.1007/978-3-030-13475-4_9

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().