El Mecanismo Único de Resolución
The Banking Union is a process of financial integration within the EU aimed at facing the last crisis of the banking system, the deficiencies of the single market and the shortcomings of the euro. It consists of three pillars: Single Supervisory Mech- anism, Single Resolution Mechanism and Single De...
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| Format: | Article |
| Language: | Spanish |
| Published: |
2016
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| Subjects: | |
| Online Access: | https://dialnet.unirioja.es/servlet/oaiart?codigo=5502063 |
| Source: | Revista española de control externo, ISSN 1575-1333, Vol. 18, Nº 52, 2016, pags. 125-150 |
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| Summary: |
The Banking Union is a process of financial integration within the EU aimed at
facing the last crisis of the banking system, the deficiencies of the single market and
the shortcomings of the euro. It consists of three pillars: Single Supervisory Mech-
anism, Single Resolution Mechanism and Single Deposit Guarantee scheme; and
of a set of common rules on the banking system of the Member States (the so-called
«Single Rule Book»).
Over the last years, Member States, in particular the Euro area Member States,
have speeded to set up the Banking Union. At this moment, the Single Superviso-
ry Mechanism is fully operational, being the European Central Bank the supervi-
sory authority; actions are also being taken to make the Single Resolution Mecha-
nism operational in the coming months; while euro area Member States have not
yet agreed to build up a Single Guarantee Deposit Scheme.
In this paper, we will focus on the analysis of the Single Resolution Mechanism.
We will explain the reasons that lead to its setting up, the goals pursued, and de-
scribe the different legal tools used to its creation. Finally, we will refer to the
Spanish law on resolution |
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