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Stéphane Kerjean
- 27 November 2013
- FINANCIAL STABILITY REVIEW - ARTICLEFinancial Stability Review Issue 2, 2013Details
- Abstract
- This special feature briefly outlines the work currently being undertaken at the European Central Bank, in close cooperation with the national competent authorities of the participating Member States, for the assumption of supervisory responsibilities in November 2014. Following a short introduction, which summarises some of the features of the single supervisory mechanism, the preparatory developments are outlined, around five main themes, which reflect the organisation of the preparatory structures.
- JEL Code
- G00 : Financial Economics→General→General
- 26 June 2008
- LEGAL WORKING PAPER SERIES - No. 6Details
- Abstract
- In September 2004, the Scheveningen ECOFIN Council invited the European Commission to identify the various obstacles to cross-border consolidation in the EU financial sector, including obstacles resulting from the application of prudential rules by supervisory authorities. Although this consolidation has increased in recent years, the number of cross-border mergers and acquisitions in the banking sector continues to lag behind other (non-financial) sectors. Moreover, the difficulties experienced by EU banks in attempting to acquire stakes in financial undertakings in other EU Member States (e.g. in Italy in 2005 or in Poland in 2006) have highlighted the need to ensure a high level of transparency and legal certainty in the rules applied by supervisory authorities when assessing proposed increases in and acquisitions of qualifying holdings, and the need for the Commission to closely monitor the application of these rules. This has led to the adoption of Directive 2007/44/EC of the European Parliament and of the Council of 5 September 2007 (
- JEL Code
- K : Law and Economics