The new banking supervisory structure in Europe

Abstract

In the last two years the regulatory framework in the field of banking supervision in Europe radically changed. The ECB has been entrusted with supervisory tasks with respect to «significant banks» in the euro area. It was established a new authority for the resolution of banking crises. This paper explores the governance of the new Single Supervisory Mechanism and the relationship between the ECB and the national competent authorities. It also studies the decision-making system of the Single Resolution Mechanism and the distinction of responsibilities between the ECB and Single Resolution Board in the pre-crisis phase. The study highlights that the new structure of banking supervision in Europe aims at coordinating EU and national organs and institutions in order to realize a patterns of integration never tested so far.