Publication

This is a transcript of a talk on a European Banking Union given by Vítor Constâncio, Vice President of the European Central Bank (ECB). Initially intended to be a system of banking supervision, the ECB’s current plans for a European Banking Union go beyond the initial scope to include five specific elements: a single rulebook for banks, a single framework for banking supervision, a single mechanism for resolving banks funded by levies on the sector itself, a common backstop in case temporary fiscal support is needed and a common system for deposit protection.