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The European Central Bank Ecb Under The Single Supervisory Mechanism Ssm
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Book Synopsis The European Central Bank (ECB) Under the Single Supervisory Mechanism (SSM) by : Paul Weismann
Download or read book The European Central Bank (ECB) Under the Single Supervisory Mechanism (SSM) written by Paul Weismann and published by . This book was released on 2017 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: As part of the Eurozone-project 'Banking Union', the European Central Bank (ECB) was vested with a large pouvoir in the field of banking supervision. Such an empowerment of the ECB is principally provided for in Article 127 (6) TFEU, on which basis the SSM Regulation was therefore adopted. However, this provision allows for the delegation upon the ECB of 'specific [supervisory] tasks' only. In order to avoid a conflict with the ECB's monetary policy function, a new (internal) body of the ECB, the Supervisory Board, was established, which is essentially dealing with the ECB's supervisory tasks. Its supervisory draft decisions come into effect if the Governing Council of the ECB does not object to them (reverse majority voting). Within the broader framework of the SSM, the supervisory branch of the ECB and, under the latter's guidance, the national supervisory authorities together perform banking supervision in the Eurozone. The means the ECB has at its hand in order to determine national supervision are without precedent in the long history of the European Verwaltungsverbund, of European Union-Member States administrative cooperation that is.This paper addresses the functioning and the limits of the SSM with a view to answering the following three questions: How does administrative cooperation work within and with the supervisory authorities outside the SSM, for example the European Banking Authority (EBA)? Is the delegation of banking supervisory powers upon the ECB, as effected by the SSM Regulation, in accordance with Article 127 (6) TFEU and the Meroni-criteria, which were recently re-considered by the Court? Is the reverse majority voting to be applied in the Governing Council of the ECB when deciding upon a draft of the Supervisory Board in compliance with the ECB's decision-making rules as laid down in the Statute of the ESCB/ECB, for example primary law?
Book Synopsis The Transparency of the European Central Bank in the Single Supervisory Mechanism by : Florin Coman-Kund
Download or read book The Transparency of the European Central Bank in the Single Supervisory Mechanism written by Florin Coman-Kund and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Not least due to the relatively short period of existence of the Single Supervisory Mechanism (SSM), the transparency of the European Central Bank (ECB) in the SSM has not attracted significant attention from legal scholarship. This contribution seeks to close this gap to some extent by mapping out the ECB's transparency regime within the SSM and illustrating, where relevant, the notable differences not only with the transparency regime applicable in the area of monetary policy, but also the general transparency regime of the EU.
Book Synopsis The Single Resolution Mechanism by : Robby Houben
Download or read book The Single Resolution Mechanism written by Robby Houben and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book takes stock after a year of application of the SRM and examines the situation from various perspectives: the perspective of the SRB, the NRA, the supervised bank and judicial protection. Special attention is given to the division of power between the RB and the NRA and the impact on the supervised bank, the relationship and links between the SRM and the SSM and the query whether the right balance between national and supranational powers has been struck, also in view of the principle of subsidiarity.
Book Synopsis The European Parliament as an Accountability Forum by : Adina Akbik
Download or read book The European Parliament as an Accountability Forum written by Adina Akbik and published by Cambridge University Press. This book was released on 2022-02-03 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: An examination of executive actors' accountability for EU economic decisions in the aftermath of the euro crisis.
Book Synopsis Legal Framework for Banking Supervision by :
Download or read book Legal Framework for Banking Supervision written by and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: European Central Bank (ECB) presents this updated digital compilation of Union legal acts on banking supervision. The digital compilation contains legal acts on banking supervision focusing primarily on the acts the ECB has adopted since the inception of the Single Supervisory Mechanism (SSM) in 2014. The compilation consists of three volumes. The fundamentals of the SSM are included in Volume I. This volume consists of Council Regulation (EU) No 1024/2013 conferring specific tasks on the ECB concerning policies relating to the prudential supervision of credit institutions, which establishes the SSM and lays down several general rules and principles, and Regulation (EU) No 468/2014 establishing the framework for cooperation within the SSM between the ECB and the national competent authorities and with national designated authorities (the 'SSM Framework Regulation'), which lays down more detailed rules with regard to the actual functioning of the SSM. The Statute of the European System of Central Banks and of the European Central Bank also contains a number of institutional provisions that apply to the ECB when acting in its supervisory capacity.
Book Synopsis On the Scope and Limits of the Application of National Law by the European Central Bank Within the Single Supervisory Mechanism by : Florin Coman-Kund
Download or read book On the Scope and Limits of the Application of National Law by the European Central Bank Within the Single Supervisory Mechanism written by Florin Coman-Kund and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulation 1024/2013 has established the Single Supervisory Mechanism (SSM) as a milestone towards the establishment of a full-fledged European Banking Union (EBU). This mechanism represents an unprecedented centralization in the area of financial market supervision in the internal market by shifting powers from national supervisory authorities to the European Central Bank (ECB), to be exercised primarily by its newly established Supervisory Board. In principle, the ECB is in charge of direct supervision of significant credit institutions, whereas the competent national supervisors remain in charge of all other credit institutions. Yet it can be observed as a rather peculiar feature of the SSM model that the ECB has the duty to carry out its tasks under EU law by directly applying national legislation. More specifically, Article 4(3) of the SSM Regulation compels the ECB to apply both national legislation implementing relevant EU directives and national rules exercising options granted by EU regulations. This article examines the application by the ECB of national rules in fulfilling its tasks under the SSM Regulation by focusing on a number of salient legal challenges posed by these novel regulatory arrangements in the EU. For this purpose, the application of different national implementing rules by the ECB is scrutinized. Here the analysis focuses on the difficulties that a supranational authority such as the ECB may face in interpreting, applying, and enforcing the national rules of different member states, as well as the implications these difficulties may have for the coherence of the European financial regulatory and supervisory system that was one of the main goals of the establishment of the EBU. Next, the challenges arising in terms of legal review and protection against ECB measures that are based on the application of national law are analyzed. In particular, issues pertaining to access to justice as regards the competent court(s) and the law applicable to disputes involving the application of national legislation by the ECB are investigated.
Book Synopsis The ECB Single Supervisory Mechanism by : Burkhard Raunig
Download or read book The ECB Single Supervisory Mechanism written by Burkhard Raunig and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Under the Single Supervisory Mechanism (SSM) introduced in 2014, the European Central Bank directly supervises significant euro area banks, which hold about 82% of total banking assets. We find that this important supervisory change has positive effects on the return on assets and the return on risk-weighted assets of SSM banks without increasing the risk weights used to calculate regulatory capital. Our findings indicate that these effects result from better risk management and increased confidence in the soundness of SSM banks. Our results therefore suggest that the SSM has strengthened the resilience of the euro area banking system.
Book Synopsis European Central Banking Law by : Christos V. Gortsos
Download or read book European Central Banking Law written by Christos V. Gortsos and published by Springer Nature. This book was released on 2020-02-14 with total page 487 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive overview of European Union (EU) central banking law, a field of EU economic law which emerged in the late 1990s and has developed rapidly ever since. European central banking law pertains to the rules governing the functions, operation, tasks and powers of the European Central Bank (ECB) and the national central banks (NCBs) of EU Member States. Systematically presenting and analysing the role of the ECB as a monetary and banking supervisory authority, the book discusses its changing and developing responsibilities following the financial crisis of 2007-2009 and the ongoing fiscal crisis in the euro area. The book also highlights the ECB’s significant role in relation to the resolution of credit institutions, as well as, conversely, its relatively limited role in respect of last-resort lending to EU credit institutions exposed to liquidity risk. The related tasks and powers of the ECB are presented in light of its interaction with NCBs within the Eurosystem, the European System of Financial Supervision, the Single Supervisory System and the Single Resolution Mechanism. Providing a detailed analysis of the legal framework governing (mainly) the ECB’s monetary policy and other basic tasks within the Eurosystem and its specific tasks in relation to banking supervision and macro-prudential financial oversight, this comprehensive book will be of interest to researchers, practitioners and students in the fields of EU monetary and banking law.
Book Synopsis Legal Aspects of the European Central Bank (ECB) - The ECB Within the European System of Central Banks (ESCB) and the European System of Financial Supervision (ESFS) - Second (Extended and Updated) Edition by : Christos Gortsos
Download or read book Legal Aspects of the European Central Bank (ECB) - The ECB Within the European System of Central Banks (ESCB) and the European System of Financial Supervision (ESFS) - Second (Extended and Updated) Edition written by Christos Gortsos and published by . This book was released on 2018 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: The present study is structured in two Chapters - the first containing three Sections and the second two - as follows:(a) Chapter One focuses on the European Central Bank (ECB) within the European System of Central Banks (ESCB):• the first two Sections (A and B) briefly discuss the definition and the sources of the law of the Economic and Monetary Union (EMU), as well as the structure and operation of the ESCB, and • Section C presents then the general and the temporary (unconventional) framework governing the ECB's single monetary policy within the Eurosystem (a sub-system of the ESCB, under 1-3). It also discusses the role of the ECB in the provision of emergency liquidity assistance (ELA) to solvent credit institutions in the euro area on the basis of the recent (2017) related ECB Agreement (under 4).(b) In Chapter Two the focus turns to the ECB within the European System of Financial Supervision (ESFS):• Section D discusses recent and ongoing developments in European banking law, identifying in particular the specific tasks conferred upon the ECB firstly with regard to the macro-prudential oversight of the EU financial system (under 1.2) and then for the micro-prudential supervision of credit institutions established (mainly but not confined to) in the euro area within the Single Supervisory Mechanism (SSM) (under 3.1), while • the SSM is presented in more details in Section E.
Download or read book Guide to Banking Supervision written by and published by . This book was released on 2014 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This guide is an important milestone in the implementation of the Single Supervisory Mechanism (SSM), the new system of financial supervision comprising, as at October 2014, the European Central Bank (ECB) and the national competent authorities (NCAs) of euro area countries. It explains how the SSM will function and gives guidance on the SSM's supervisory practices.
Book Synopsis The New European Central Bank: Taking Stock and Looking Ahead by : Thomas Beukers
Download or read book The New European Central Bank: Taking Stock and Looking Ahead written by Thomas Beukers and published by Oxford University Press. This book was released on 2022-12-02 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Central Bank (ECB) was first introduced in the European legal order on the occasion of the Treaty of Maastricht (1992). An official EU institution which is governed by EU law, the ECB of modern times differs vastly from its inception in 1998, which manifests in three main ways: monetary policy options, consideration of concerns other than low inflation in its policy-making, and its role in the Banking Union. This edited collection offers a retrospective and prospective account of the ECB, charting its evolution in detail with chapters written by leading academics and practitioners. Part 1 examines the substantive changes to monetary policy introduced by the ECB as a consequence of the financial and sovereign debt crisis by considering their legal basis. Part 2 moves beyond monetary policy by shifting to the new roles that the ECB has been called upon to play, notably in banking supervision and resolution. Parts 3 and 4 deal with transformations to inter- and intra-institutional relations, and take stock of these transformations, reflecting on the nature of the ECB of current times and which direction it could be heading in the future. The authors analyse the most salient and controversial elements of the ECB's crisis response, including unconventional monetary policy measures and the ECB's risk management strategy. Beyond monetary policy, the book further examines the role played by objectives such as financial stability and environmental sustainability, the ECB's relationship to the Lender of Last Resort function, as well as its new responsibilities in the Banking Union.
Book Synopsis The European Central Bank by : Hanspeter K. Scheller
Download or read book The European Central Bank written by Hanspeter K. Scheller and published by . This book was released on 2006 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprehensive 200-page overview of the ECB from its inception in June 1998 until the present day.
Book Synopsis The Single Supervisory Mechanism Or 'SSM', Part One of the Banking Union by : Eddy Wymeersch
Download or read book The Single Supervisory Mechanism Or 'SSM', Part One of the Banking Union written by Eddy Wymeersch and published by . This book was released on 2014 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis European Banking Supervision by : André Sapir
Download or read book European Banking Supervision written by André Sapir and published by . This book was released on 2016-06-14 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: European banking supervision, also known as the Single Supervisory Mechanism, is the first and arguably the main component of European banking union. In late 2014, the European Central Bank became the supervisor for the region's largest banking groups; the ECB also oversees the supervision by national authorities of smaller banks. This Blueprint is the first in-depth study of how this ground-breaking reform is working in practice. Despite teething troubles and occasional misjudgements, this assessment finds that overall European banking supervision has been effective, demanding and broadly fair, at least for the banks under the ECB's direct watch. Even so, achieving a truly single market in banking services will require more time, further supervisory initiatives and new Europe-wide regulatory and legislative steps.
Book Synopsis The Single Supervisory Mechanism by : Klaus Lackhoff
Download or read book The Single Supervisory Mechanism written by Klaus Lackhoff and published by Beck/Hart. This book was released on 2017-07-13 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Single Supervisory Mechanism (SSM) will be considered as a significant category in the Eurozone as of November 2014. Thus, the European banking architecture is fundamentally changed and adapted to the requirements of a European banking union. Contents: - Purpose of the SSM and Basic Functioning - Some Fundamental Questions. - Governance Structure and Decision Making - The Applicable Nouns and Procedural Law - Determining the Significance of Credit Institutions and the Endowment of the ECB - Tasks and Powers Relating to all Credit Institutions - Tasks and Powers Relating to the On-Going Supervision of Significant Credit Institutions - Enforcement and Sanctioning Powers - Close Cooperation - Supervisory Fees - Contesting ECB supervisory decisions in front of the ABoR - Contesting ECB - Non-contractual liability of the ECB for ECB supervisory decisions - SSM Regulation (SWOP) and the so-called Framework Regulation of the European Central Bank (FR) are the legal basis for the institutional and operational architecture of the SSM.
Book Synopsis A Banking Union for the Euro Area by : Rishi Goyal
Download or read book A Banking Union for the Euro Area written by Rishi Goyal and published by International Monetary Fund. This book was released on 2013-02-12 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The SDN elaborates the case for, and the design of, a banking union for the euro area. It discusses the benefits and costs of a banking union, presents a steady state view of the banking union, elaborates difficult transition issues, and briefly discusses broader EU issues. As such, it assesses current plans and provides advice. It is accompanied by three background technical notes that analyze in depth the various elements of the banking union: a single supervisory framework; a single resolution and common safety net; and urgent issues related to repair of weak banks in Europe.
Book Synopsis Open Issues in European Central Banking by : L. Smaghi
Download or read book Open Issues in European Central Banking written by L. Smaghi and published by Springer. This book was released on 2000-01-04 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the start of EMU, the Eurosystem has taken over monetary policy for the 11 countries of the Euro-area. But the division of powers within the Eurosystem, between the European Central Bank and the constituent National Central Banks, is not satisfactory. This volume provides an analysis of the strengths and weaknesses of the Eurosystem and offers concrete proposals concerning the decision-making organs, balance sheets and the distribution of seigniorage.
