The RegZone reports
We have broken this large topic into a series of discrete reports illustrated with a series of charts and diagrams (including 15 charts demonstrating how the institutional structure operates from the perspective of different member states).
The RegZone reports are:
This report looks at the European System of Financial supervision (the ESFS) and the various European institutions including the European Systemic Risk Board (ESRB) and the European Supervisory Authorities (ESAs). It explains the role of the ESAs across the EU and the role of national supervisors.
This report looks at the so-called ‘Banking Union’ across the Eurozone. It looks at the Single Supervisory Mechanism (SSM) which commenced in November 2014 and introduced new arrangements for the prudential supervision of Eurozone banks by the European Central Bank (ECB). It also explains the changes made to voting at the EBA to protect non Eurozone countries.
This report looks at the single resolution mechanism (SRM) which is being introduced across the Eurozone (as part of the Banking Union). This establishes the powers to resolve banks, as required by the Bank Recovery and Resolution directive (BRRD) – including bail-in powers and resolution funding. Under the SRM, the ECB will have the primary responsibility for triggering a bank resolution and the resolution scheme will be put in place by the new Single Resolution Board (the SRB).
How it all fits together
The system for regulation is particularly complex in the banking sector because of the “Banking Union”, which currently applies only to the 19 members of the Eurozone. The table below summarises the scope of application of various aspects of the regime:
This report looks at EU financial services legislation and the detailed EU rulebooks applicable to firms. It explains the different types of EU legislation and rules - such as directives (maximum and minimum harmonisation), regulations, technical standards, non-legislative acts and guidance. It also looks at the way in which the EU makes agrees new rules (including the Lamfalussy process).
Much of this report is in tables and charts and there is a separate note explaining the complexities of the key voting procedure, known as ‘qualified majority voting’.
RegZone Charts
The RegZone charts can be accessed on a dedicated web page here.
There are separate charts for Belgium, Bulgaria, Germany, Hungary, Italy, Luxembourg, the Netherlands, Spain, Slovenia and the United Kingdom. Each chart sets out the institutional structure from the perspective of that country and shows both the relevant domestic agencies and the relevant international and European agencies.
[1] Deposit Guarantee Scheme
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