Reference : Internationalised banking, alternative banks and the Single Supervisory Mechanism
Scientific journals : Article
Law, criminology & political science : Political science, public administration & international relations
Internationalised banking, alternative banks and the Single Supervisory Mechanism
Howarth, David mailto [University of Luxembourg > Faculty of Language and Literature, Humanities, Arts and Education (FLSHASE) > Identités, Politiques, Sociétés, Espaces (IPSE) >]
Quaglia, Lucia mailto [University of York > Political Science]
West European Politics
The Politics of Supranational Banking Supervision in Europe
Yes (verified by ORBilu)
[en] Banking union ; financial trilemma ; Single Supervisory Mechanism ; European Union ; Economic and Monetary Union ; banking supervision ; banking systems ; banking supervision
[en] This paper sets out to explain the preferences of the seven northern euro area member states on the Single Supervisory Mechanism (SSM) concerning the threshold set for direct European Central Bank (ECB) control over bank supervision. Building on the concept of the ‘financial trilemma’, it argues that different bank internationalisation patterns in the seven northern member states explain different preferences on the transfer of supervisory powers over less significant banks to the ECB. In particular, the reach of internationalisation into a national banking system – notably the extent to which even smaller banks were exposed to foreign banking operations – is shown to be the core factor explaining different national preferences on threshold. In the five countries with a large number of small and parochial alternative (cooperative and savings) banks, it is necessary to examine the system-specific structures of these banks to explain better the reach of internationalisation and national preferences on the threshold. Determined German opposition to ECB supervision of smaller alternative banks is juxtaposed with either less hostile or more positive support of at least four other countries despite the important presence of small alternative banks.
Fonds National de la Recherche - FnR
Researchers ; Professionals ; Students ; General public

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