Delay determinants of European Banking Union implementation

Michael Koetter, Thomas Krause and Lena Tonzer

No 24/2017, IWH Discussion Papers from Halle Institute for Economic Research (IWH)

Abstract: To safeguard financial stability and harmonise regulation, the European Commission substantially reformed banking supervision, resolution, and deposit insurance via EU directives. But most countries delay the transposition of these directives. We ask if transposition delays result from strategic considerations of governments conditional on the state of their financial, regulatory, and political systems? Supervisors might try to protect national banking systems and local politicians maybe reluctant to surrender national sovereignty to deal with failed banks. Alternatively, intricate financial regulation might require more implementation time in large and complex financial and political systems. We therefore collect data on the transposition delays of the three Banking Union directives and investigate observed delay variation across member states. Our correlation analyses suggest that existing regulatory and institutional frameworks, rather than banking market structure or political factors, matter for transposition delays.

Keywords: single rulebook; political economy; transposition delays (search for similar items in EconPapers)
JEL-codes: C41 F30 F55 G15 G18 (search for similar items in EconPapers)
Date: 2017
New Economics Papers: this item is included in nep-cba and nep-eec
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Citations: View citations in EconPapers (3)

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Related works:
Journal Article: Delay determinants of European Banking Union implementation (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:iwhdps:242017

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