The following Financial Services guidance note Produced in partnership with DLA Piper UK LLP provides comprehensive and up to date legal information covering:
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
**excludes LexisPSL Practice Compliance, Practice Management and Risk and Compliance. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Take a free trial
0330 161 1234