European Banking Union
Produced in partnership with DLA Piper UK LLP
European Banking Union

The following Financial Services practice note Produced in partnership with DLA Piper UK LLP provides comprehensive and up to date legal information covering:

  • European Banking Union
  • EU integration of banking regulation
  • Key elements of the EU Banking Union
  • Key EU legislation relating to the Banking Union
  • Role of the ECB within the Banking Union
  • The SRM Regulation
  • The European Deposit Insurance Scheme
  • Sovereign Bond Backed Securities

EU integration of banking regulation

Further economic integration in regulatory areas was called for in response to the perceived lack of an integrated EU-level framework and of a collective mechanism to respond to the risks originating in the banking sector affecting many Member States across Europe, particularly following the height of the financial crisis in 2008. The creation of a European Banking Union is a significant development in further limiting the risk of individual banks failing and failure of the economic policies of EU Member States.

The Banking Union applies to all Member States in the eurozone and those non-euro area Member States who have opted to participate in the Banking Union (participating Member States).

The UK government confirmed that the UK will not participate in the European Banking Union.

On 19 January 2016, the European Council published the report presented by President Donald Tusk to the European Parliament on the outcome of the December European Council. President Donald Tusk addressed the European Parliament in Strasbourg on the outcome of the European Council of 17-18 December 2015. Amongst matters such as the events affecting Europe's stability, ministers confirmed their commitment to work towards completing European Monetary Union (EMU) further based on the Five Presidents' report. It was also reported that ministers were asked to advance their work rapidly on a number of areas, including the European Banking Union,

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