European Banking Union

Banking / Finance

European Banking Union

Edited by Jens-Hinrich Binder · Christos V. Gortsos · Klaus Lackhoff · Christoph Ohler
Hart Publishing June 2022

Specifications

ISBN-13
9781509963898
Publisher
Hart Publishing
Publication
June 2022
Format
Hardback
Jurisdiction
Germany ? Countri(es) for reference only

Details

This new commentary analyses, article by article, the two most important regulations on the European banking union: firstly, the Single Supervisory Mechanism with the ECB as the single supervisory authority for major banking institutions; and secondly, the Single Resolution Mechanism with the Single Resolution Fund as the centralized decision-making body in the eurozone.

Table of Contents

SINGLE SUPERVISORY MECHANISM REGULATION
Art.
1 Subject matter and scope
Art.
2 Definitions
Article 2 SSM Framework Regulation Definitions
Art.
3 Cooperation
Art.
4 Tasks conferred on the ECB
Art.
5 Macro-prudential tasks and tools
Arts.
103–105 SSM Framework Regulation
Art.
6 Cooperation within the SSM
Art.
7 Close cooperation with the competent authorities of participating Member States whose currency is not the euro
Art.
8 International relations
Art.
9 Supervisory and investigatory powers
Art.
10 Request for information
Art.
11 General investigations
Art.
12 On-site inspections
Art.
13 Authorisation by a judicial authority
Art.
14 Authorisation
Art.
15 Assessment of acquisitions of qualifying holdings
Art.
16 Supervisory powers
Art.
17 Powers of host authorities and cooperation on supervision on a consolidated basis
Arts.
8–17 SSM Framework Regulation
Art.
18 Administrative penalties
Art.
19 Independence
Art.
20 Accountability and reporting
Art.
21 National parliaments
Art.
22 Due process for adopting supervisory decisions
Art.
23 Reporting of violations
Art.
24 Administrative Board of Review
Art.
25 Separation from monetary policy function
Art.
26 Supervisory board
Art.
27 Professional secrecy and exchange of information
Art.
28 Resources
Art.
29 Budget and annual accounts
Art.
30 Supervisory fees
Art.
31 Staff and staff exchange
Art.
32 Review
Art.
33 Transitional provisions
Art.
34 Entry into force

SINGLE RESOLUTION MECHANISM REGULATION
Art.
1 Subject matter
Art.
2 Scope
Art.
3 Definitions
Art.
4 Participating Member States
Art.
5 Relation to Directive 2014/59/EU and applicable national law
Art.
6 General Principles
Art.
7 Division of tasks within the SRM
Art.
8 Resolution plans drawn up by the Board
Art.
9 Resolution plans drawn up by national resolution authorities
Art.
10 Assessment of resolvability
Art.
10a Power to Prohibit Certain Distributions
Art.
11 Simplified obligations for certain institutions
Arts.
12–12k Minimum requirements
Art.
13 Early intervention
Art.
14 Resolution Objectives
Art.
15 General principles governing resolution
Art.
16 Resolution of financial institutions and parent undertakings
Art.
17 Order of priority of claims
Art.
18 Resolution procedure
Art.
19 State aid and Fund aid
Art.
20 Valuation for the purposes of resolution
Art.
21 Write-down and conversion of capital instruments or eligible liabilities
Art.
22 General principles of resolution tools
Art.
23 Resolution Scheme
Art.
24 Sale of business tool
Art.
25 Bridge Institution Tool
Art.
26 Asset separation tool
Art.
27 Bail-in tool
Art.
28 Monitoring by the Board
Art.
29 Implementation of decisions under this Regulation
Art.
30 Obligation to cooperate and information exchange within the SRM
Art.
31 Cooperation within the SRM
Art.
32 Consultation of, and cooperation with, non-participating Member States and third countries
Art.
33 Recognition and enforcement of third-country resolution proceedings
Art.
34 Requests for information
Art.
35 General investigations
Art.
36 On-site inspections
Art.
37 Authorisation by a judicial authority
Art.
38 Fines
Art.
39 Periodic penalty payments
Art.
40 Hearing of the persons subject to the proceedings
Art.
41 Disclosure, nature, enforcement and allocations of fines and periodic penalty payments
Art.
42 Legal status
Art.
43 Composition
Art.
44 Compliance with Union law
Art.
45 Accountability
Art.
46 National parliaments
Art.
47 Independence
Art.
48 Seat
Art.
49 Participation in plenary sessions
Art.
50 Tasks
Art.
51 Meeting of the plenary session of the Board
Art.
52 General provisions on the decision-making process
Art.
53 Participation in the executive sessions
Art.
54 Tasks
Art.
55 Decision-making
Art.
56 Appointment and tasks
Art.
57 Resources
Art.
58 Budget
Art.
59 Part I of the budget on the administration of the Board
Art.
60 Part II of the budget on the Fund
Art.
61 Establishment and implementation of the budget
Art.
62 Internal audit and control
Art.
63 Implementation of the budget, presentation of accounts and discharge
Art.
64 Financial rules
Art.
65 Contributions to the administrative expenditures of the Board
Art.
66 Anti-fraud measures
Introduction to Arts.
67–74 SRMR
Art.
67 General provisions
Art.
68 Requirement to establish resolution financing arrangements
Art.
69 Target level
Art.
70 Ex-ante contributions
Art.
71 Extraordinary ex-post contributions
Art.
72 Voluntary borrowing between resolution financing arrangements
Art.
73 Alternative funding means
Art.
74 Access to financial facility
Art.
75 Investments
Art.
76 Mission of the Fund
Art.
77 Use of the Fund
Art.
78 Mutualisation of national financing arrangements in the case of group resolution involving institutions in non-participating Member States
Art.
79 Use of deposit guarantee schemes in the context of resolution
Art.
80 Privileges and immunities
Art.
81 Language arrangements
Art.
82 Staff
Art.
83 Staff exchange
Art.
84 Internal committees
Art.
85 Appeal Panel
Art.
86 Actions before the Court of Justice
Art.
87 Liability of the Board
Art.
88 Professional secrecy and exchange of information
Art.
89 Data protection
Art.
90 Access to documents
Art.
91 Protection of classified and sensitive non-classified information
Art.
92 Court of Auditors
Art.
93 Exercise of the delegation
Art.
94 Review
Art.
95 Amendment to Regulation (EU) No 1093/2010
Art.
96 Replacement of national resolution financing arrangements
Art.
97 Headquarters Agreement and operating conditions
Art.
98 Start of the Board's activities
Art.
99 Entry into force
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