The completion of the European Banking Union attracts billions of new capital for Eurozone banks

The European Parliament adopted yesterday with large majorities three legal texts completing the European Banking Union, two years after the initial decision to create a common system, at least in the euro area, of regular bank supervision and resolution of failing lenders. In two separate votes and an approval at second reading without a new […]

The EU banking union needs a third pillar guaranteeing deposits

Daniele Nouy, secretary-general of the French Prudential Supervision Authority for banks, candidate to head Europe’s Single Supervisory Mechanism for lenders, speaking at the European Parliament last Wednesday stressed that, the “EU supervisor would be hampered if the two other pillars of banking union (recovery and resolution mechanism and deposit guarantee system) were not set up”. […]