This comprehensive and topical work examines the impact of European Banking Union in the context of the European Central Bank taking over supervision of the 130 European banks in 2014. The work addresses the effect on the daily supervision of large banks in Europe and also analyses the position of bank creditors and shareholders. The thematic approach covers the Single Rulebook and CRD IV, the Single Supervisory System (SSM), and the Single Resolution Mechanism (SRM) from a legal and economic perspective. The book also compares the US to Europe and assesses whether anything can be learnt from US experience. Key issues such as judicial protection of supervised credit institutions, implications for financial market governance, and risk management and compliance, are examined alongside case-studies and analysis.
PART I: GENERAL ASPECTS
1. A Banking Union for a Divided Europe: An Introduction
2. The Economic Consequences of the European Banking Union
3. European Banking Union: Imperfect, But it Can Work
PART II: SINGLE SUPERVISION AND CRD IV
4. The Single Supervisory Mechanism: Institutional Aspects
5. The Single Rulebook and the SSM: Should the ECB Have More Say in Prudential Rule-making?
6. CRD IV Framework for Banks' Corporate Governance
7. Risk Management and Compliance in Banks: The United States and Europe
8. Contingent Convertible Securities: From Theory to CRD IV
PART III: SINGLE RESOLUTION AND THE BRRD
9. Governance of the Single Resolution Mechanism
10. Recovery and Resolution Plans of Banks in the Context of the BRRD and the SRM: Some Fundamental Issues
11. Bail-in and the Financing of the SRM
12. The Architecture of the BRRD - A UK Perspective
PART IV: JUDICIAL REVIEW AND REFORM PERSPECTIVES
13. Judicial Protection of Supervised Credit Institutions in the European Banking Union
14. Reforming the Structure of the EU Banking Sector
15. Resolution in the European Banking Union: the Unfinished Agenda of Structural Reform
16. Banking Union and the Implications for Financial Market Governance in the EU: Convergence or Divergence
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