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Table of Contents
Tables included in the text
................................................................................ XIII
List of Abbreviations
............................................................................................. XV
Introduction
................................................................................................................1
Section A:
The Directive in the context of the European Banking Union
1. The political agenda
.................................................................................................3
1.1 The decisions of June 2012
.................................................................................3
1.2 The outline of the reform agenda
......................................................................4
2. Legislative actions – the new institutional and regulatory framework
...........8
2.1 Introductory remarks
..........................................................................................8
2.2 Authorisation, prudential supervision and prudential regulation
of credit institutions
............................................................................................8
2.2.1 The Single Supervisory Mechanism (‘SSM’)..................................................8
2.2.2 The single rulebook ....................................................................................10
2.3 Resolution of credit institutions
.......................................................................12
2.3.1 The Single Resolution Mechanism (‘SRM’) and the Single
Resolution Fund (‘SRF’) ........................................................................................12
2.3.2 The single rulebook ....................................................................................14
2.4 Deposit guarantee schemes
..............................................................................16
2.4.1 A Single Deposit Guarantee Scheme..........................................................16
2.4.2 The single rulebook ....................................................................................16
3. The uncompleted agenda
......................................................................................16
3.1 Introductory remarks
........................................................................................16
3.2 Direct recapitalisation of credit institutions by the ESM
..............................16
3.3 The ECB as lender of last resort
.......................................................................18
3.4 Winding-up of credit institutions
.....................................................................19
4. Final remarks: European banking law in the era of the European
Banking Union
.........................................................................................................20
4.1 The sources of European banking law
.............................................................20
4.2 The law-making process ‘in a nutshell’
...........................................................20