Publication:
Banking Union's accountability system in practice : a health check-up to Europe's financial heart

dc.affiliation.areaUC3M. Área de Derecho Mercantiles
dc.affiliation.dptoUC3M. Departamento de Derecho Privadoes
dc.contributor.authorLamandini, Marco
dc.contributor.authorRamos Muñoz, David
dc.date.accessioned2022-09-14T15:14:27Z
dc.date.available2022-09-14T15:14:27Z
dc.date.issued2022-04-12
dc.description.abstractThe Single Supervisory Mechanism (SSM) and Single Resolution Mechanism (SRM) form the Banking Union, which comprises EU authorities (ECB and SRB) and national authorities (NCAs and NRAs) with vast powers. Although crucial for its legitimacy, the Banking Union"s accountability is flawed, and not for the (stereo)typical reasons: accountability is a visible concept in SSM and SRM regulations, and political, administrative and judicial bodies are knowledgeable, engaged and thorough. Rather, this article posits that the SSM and SRM work very well because the legislature focused on practical details such as information flows, planning and continuity and coordination, while there has been no comparable effort to ensure the functioning of accountability tools. The result is a 'system” characterised by limited access to crucial information, lack of continuity, and uncoordinated functioning. Changing this should not be hard but requires replacing blanket criticism and stereotypical views with greater attention to detail.en
dc.identifier.bibliographicCitationLamandini, M., & Ramos Muñoz, D. (2022). Banking Union’s accountability system in practice: A health check‐up to Europe’s financial heart. European Law Journal.en
dc.identifier.doihttps://doi.org/10.1111/eulj.12404
dc.identifier.issn1351-5993
dc.identifier.publicationfirstpage1es
dc.identifier.publicationlastpage31es
dc.identifier.publicationtitleEuropean Law Journalen
dc.identifier.publicationvolume28es
dc.identifier.urihttps://hdl.handle.net/10016/35696
dc.identifier.uxxiAR/0000031017
dc.language.isoenges
dc.publisherWileyes
dc.rights© 2022 The Authors. European Law Journal published by John Wiley & Sons Ltd.es
dc.rightsAtribución 3.0 España*
dc.rights.accessRightsopen accesses
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/es/*
dc.subject.otherBankingen
dc.subject.otherBanking unionen
dc.subject.otherUnión bancariaes
dc.subject.otherAccountabilityes
dc.titleBanking Union's accountability system in practice : a health check-up to Europe's financial hearten
dc.typeresearch article*
dc.type.hasVersionVoR*
dspace.entity.typePublication
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