‘I wouldn’t start from here’: the making of European Banking Supervision, and the road ahead. Egmont Paper 90, November 2016

Verhelst, Stijn (2017) ‘I wouldn’t start from here’: the making of European Banking Supervision, and the road ahead. Egmont Paper 90, November 2016. [Policy Paper]

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Abstract

From the Executive Summary. When eurozone leaders committed themselves in June 2012 to creating a single supervisory mechanism (SSM, now also known as European banking supervision), few in Europe realised the magnitude of the project. Since then, raising banking supervision to the European level has proven to be one of Europe’s most ambitious projects of the last decades. This is all the more true given that European banking supervision had to be set up in a particularly challenging environment due to the legal hurdles and the urgency involved. This Egmont Paper discusses the key challenges involved.

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