Publication

This paper provides an overview of the Banking Union (BU), an initiative by the European Union to transfer the responsibility for banking policy from the national to the EU level, that was initiated in 2012 as a response to the 2008 eurozone crisis. The author analyzes the BU’s effective Single Supervisory Mechanism (SSM) created to supervise and regulate 130 large monetary financial institutions, banks and various deposit receiving institutions across the euro area as well as the Single Resolution Mechanism (SRM), scheduled to come into force in 2015.