The papers collected in this Quaderno di ricerca giuridica analyse the impact of the creation of the Banking Union on national supervisory/resolution authorities through the examination of eight case studies (Austria, France, Germany, Italy, Latvia, Poland, Portugal, and Spain), as well as through the examination of the national authorities in charge of macroprudential supervision, and of the EBA.
The case studies reveal that the creation of the Banking Union was not the trigger for significant institutional changes, although it did have consequences. Several Member States had already followed global trends towards a concentration of functions in a single supervisory model, while others conducted reforms in response to certain national political and legal dynamics, and others still reacted to external factors, such as the sovereign debt crisis. Moreover, these eight case studies show that the institutional arrangements in place in the various Member States vary widely and that there is a mismatch, or at least a certain inconsistency, between EU rules and the reality of Member States' institutional structures. However, the influence of European integration is not limited to the bank resolution framework and microprudential supervision, but also extends to the area of macro-prudential supervision where the harmonisation of certain measures and the assignment of tasks to the ECB also in this area has integrated a framework characterised, on the one hand, by the coordinating role played by the ESRB and, on the other hand, by the existence of important responsibilities in the hands of national authorities. The EBA has also undergone profound changes following the creation of the Banking Union.
The papers were presented in a series of seminars, the first of which was held at the University Science Po in Paris, and the others at the Legal Services Directorate of Banca d'Italia, and constitute the outcome of a study conducted within the framework of 'IMPACTEBU', a project funded by the Horizon 2020 research and innovation programme through the 'Marie Skłodowska-Curie' grant agreement no. 895841.
