Rethinking the allocation of macroprudential mandates within the Banking Union–a perspective from east of the BU

Katalin Mérő, Dóra Piroska*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

Abstract (may include machine translation)

This paper argues that reforms of the Banking Union should be aimed at increasing efficiency of the single market as well enhance financial stability in the European Union. We argue that this can only be achieved if the Banking Union becomes more accommodative to non-Eurozone Central and Eastern European countries. It can be achieved if within BU institutions, the allocation of competencies reflects the subsidiary demands of CEE governments. Using the example of macroprudential regulation, we develop a number of reform options that could result in the better functioning of the Single Supervisory Mechanism and thus benefit all EU member states.

Original languageEnglish
Pages (from-to)240-256
Number of pages17
JournalJournal of Economic Policy Reform
Volume21
Issue number3
DOIs
StatePublished - 3 Jul 2018
Externally publishedYes

Keywords

  • Banking Union
  • Central and Eastern Europe
  • European Union
  • banking regulation
  • macroprudential policy

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