Home > DocuBase > Article

« All DocuBase Articles

 

Follow DocuTicker on Twitter Bookmark and Share   Feed

Friday, 14th December 2012

European Banking Union: Key issues and challenges

Source: House of Lords European Union Committee (UK)

From Summary:

A European banking union is urgently required in order to restore credibility and stability to the euro area banking system, and to break the vicious cycle between banks and sovereign states. The UK has made clear that it will not participate in a banking union, although other non-euro Member States may well wish to do so. Nevertheless the consequences for this country could be momentous. There is a significant risk that the UK will be marginalised as banking union participants move towards closer integration. This in turn threatens to fracture the single market, as the authority of EU-27 bodies such as the European Banking Authority and the European Systemic Risk Board comes under threat. The Government’s assurances about the impact on the City of London may prove misplaced. The Government must do all in their power to ensure that London’s pre-eminence as a financial market is not imperilled and that the integrity of the single market is retained. UK isolation in debates of such fundamental importance would be disastrous.

The original banking union proposals set out a three-pronged approach: a Single Supervisory Mechanism, a common resolution mechanism and a common deposit insurance scheme. We regret that this coherent model has already been undermined by political pressure, led by Germany. Banking union requires all three of these elements if it is to be effective.

However we welcome the publication of the Single Supervisory Mechanism proposals as a significant first step towards banking union. We agree that the European Central Bank, to be given ultimate supervisory responsibility for every euro area bank, is the only organisation with the necessary credibility and authority to take on this role. But the concentration of so much power in one institution means that powerful safeguards must be put in place.

+ Direct link to document (PDF; 1.3 MB)


Category:

Source:

Views: 962


Having begun his career in academic libraries, Adrian Janes has subsequently worked extensively in public libraries, chiefly in enquiry work as an Information Services librarian. In this role he has had particular responsibility for information from both the UK Government and the European Union. He wrote a detailed report on sources for the latter which was published by FreePint in 2007, and has contributed articles to FreePint and ResourceShelf. He is involved in training in information literacy and the use of online reference resources.

A Contributing Editor to DocuTicker, he also write reviews for Pennyblackmusic.

Adrian can be reached at adrian.janes@freepint.com

More articles by Adrian Janes »



Please note: DocuTicker's editors collect citations for full-text PDF reports freely available on the web but we do not archive these reports. When you click a link to find and/or download the report, you are leaving the DocuTicker site. DocuTicker makes no representations regarding the ongoing availability of any report or any external resource. Links were accurate as of the date of posting.

« All DocuBase Articles

 

FreePint

FreePint supports the value of information in the enterprise. Read more »


FeedLatest FreePint Content:


  • Click to view the article Changing Compliance Culture in the Financial Sector
    Thursday, 24th July 2014

    In a speech at the annual Thomson Reuters Compliance & Risk Summit Tracey McDermott of the UK Financial Conduct Authority spoke about the change in focus of the regulator towards corporate culture and the enforcement of personal liability by management. The shift from rules-based regulation to the harder to measure compliance culture may require information managers to review the compliance information in their organisation and who receives it.

  • Click to view the article Product Review of Reg-Track (Sources - Content & Coverage)
    Thursday, 24th July 2014

    In the second part of his review, Chris Porter looks at content coverage in Reg-Track, a regulatory tracking service aimed at compliance professionals focused on the financial services industry. With a focus on the largest financial markets, such as those within North America, the European Union and Asia-Pacific, Reg-Track is also expanding its coverage to additional regulators.

  • Click to view the article Are We Becoming Too Scared of Security to Benefit from Big Data?
    Thursday, 24th July 2014

    Information assets are in the hands of the right people to safeguard them but the wrong people to manage their exploitation concludes an influential new study. As reports continue to emerge of apparent corporate paralysis in the face of cyber security threats, Tim Buckley Owen wonders whether the emphasis hasn't swung too far in that direction, and sees opportunities for information professionals in helping to strike a balance between security in the cloud and effective data analysis for competitive advantage.

  • ... more ...

All FreePint Content »
FreePint Topics »


A FreePint Subscription delivers articles and reports that support your organisation's information practice, content and strategy.

Find out more and order a FreePint Subscription by visiting the
completing our online form: Subscription Order page.


FreePint Testimonials

"It was really useful to get so much input from customers and hear their perspective - I have come into the office this morning full of things ..."

Read more testimonials and supply yours »







 

 
 
 

Subscribe

Receive the DocuTicker Newsletter each week.

Find out more »

Article Categories

All Article Categories »

Sources

All DocuBase Sources »

Source Categories

All Source Categories »

Archive

All Archives »