Introduction to the special issue: the persistent challenges to European Banking Union

Högenauer, Anna-Lena; Howarth, David; Quaglia, Lucia

doi:10.1080/07036337.2023.2183390

Download

Article (Scientific journals)

Introduction to the special issue: the persistent challenges to European Banking Union

Högenauer, Anna-Lena; Howarth, David; Quaglia, Lucia

2023 • In Journal of European Integration, 45 (1), p. 1-14

Peer Reviewed verified by ORBi

Permalink
https://hdl.handle.net/10993/54589

DOI
10.1080/07036337.2023.2183390

Files (1)Send to Details Statistics Bibliography Similar publications

Files

Full Text

Högenauer Introduction to the special issue the persistent challenges to European Banking Union.pdf

Publisher postprint (548.67 kB)

Download

All documents in ORBilu are protected by a user license.

Send to

RIS BibTex APA Chicago Permalink X Linkedin

Details

Keywords :

Banking Union; European Union; bank regulation; bank supervision; bank resolution; European Central Bank

Abstract :

[en] The papers of this special issue investigate the persistent challenges to European Banking Union and explore the tensions between broader financial stability objectives and national political and socio-economic pressures through a diversity of lenses. In this introduction, we examine two main issues that need to be addressed in order to strengthen Banking Union: the incomplete institutional design of Banking Union and the difficulties encountered in applying the different elements of Banking Union to loosen sovereign-bank ties. These elements include the so-called ‘single’ rulebook, supervision, resolution, and financial mechanisms to support and resolve banks.

Disciplines :

Political science, public administration & international relations

Author, co-author :

Högenauer, Anna-Lena ; University of Luxembourg > Faculty of Humanities, Education and Social Sciences (FHSE) > Department of Social Sciences (DSOC)

Howarth, David ; University of Luxembourg > Faculty of Humanities, Education and Social Sciences (FHSE) > Department of Social Sciences (DSOC)

Quaglia, Lucia; University of Bologna > Professor

External co-authors :

yes

Language :

English

Title :

Introduction to the special issue: the persistent challenges to European Banking Union

Publication date :

March 2023

Journal title :

Journal of European Integration

ISSN :

1477-2280

Publisher :

Routledge, United Kingdom

Special issue title :

Banking on Europe: Reinforcing the Unstable Pillars of European Banking Union at Ten

Volume :

Issue :

Pages :

1-14

Peer reviewed :

Peer Reviewed verified by ORBi

Focus Area :

Finance

Additional URL :

https://www.tandfonline.com/doi/full/10.1080/07036337.2023.2183390

FnR Project :

FNR13712846 - Building Effective European Banking Supervision, 2019 (01/09/2020-31/08/2023) - David Howarth

Funders :

FNR - Fonds National de la Recherche [LU]

Available on ORBilu :

since 17 March 2023

Statistics

Number of views

63 (7 by Unilu)

Number of downloads

33 (1 by Unilu)

More statistics

Scopus citations^®

Scopus citations^®
without self-citations

WoS citations^™

Bibliography

Financial Times 2019. ‘A German Bailout Tests EU Bank Rules to the limit’, Editorial, 10 December; available at: https://www.ft.com/content/8024e7dc-1b62-11ea-97df-cc63de1d73f4
Amtenbrink, F. 2023. “ Fabian Amtenbrink, ‘The (Potential) Contribution of the European Union’s Fiscal Architecture to Financial Stability’.” Journal of European Integration.
Asimakopoulos, I., and D. Howarth. 2022. “ Stillborn Banking Union: Explaining Ineffective European Union Bank Resolution Rules.” Journal of Common Market Studies 60 (2): 264–282. doi: 10.1111/jcms.13212.
Athanassiou, P. 2011. ‘Financial Sector Supervisors’ Accountibility: A European Perspective. European Central Bank’, Legal Working Paper Series No.12.
Ban, C., and D. Bohle. 2021. “ Definancialization, Financial Repression and Policy Continuity in East-Central Europe.” Review of International Political Economyconomy 28 (4): 874–897. doi: 10.1080/09692290.2020.1799841.
Božina Beroš, M. 2023. “ Developing Banking Union’s Common Supervisory Culture: A Look into the “Black Box” of Joint Supervisory Teams.” Journal of European Integration.
Braun, B., D. Gabor, and M. Hübner. 2018. “ Governing Through Financial Markets: Towards a Critical Political Economy of Capital Markets Union.” Competition & Change 22 (2): 101–116. doi: 10.1177/1024529418759476.
Brenner, D. 2022. Fortressing on Markets: Financial Supervision in the Capital Markets Union. Doctoral thesis, Vienna: Central European University.
Brundsen, J. 2017. ‘European Commission Withdraws Bank Separation proposal’. Financial Times, 24 October; available at: https://www.ft.com/content/ddbedcd9-2dea-3b68-b8e2-2e1bc1eda13f
Cassell, M. 2021. Banking on the State: The Political Economy of Public Savings Banks. Newcastle: Agenda.
Donnelly, S. 2018c. “ Advocacy Coalitions and the Lack of Deposit Insurance in Banking Union.” Journal of Economic Policy Reform 21 (3): 210–223. doi: 10.1080/17487870.2017.1400437.
Donnelly, S. 2023. “ Bank Supervision Between Risk Reduction and Economic Renewal.” Journal of European Integration.
EBA (European Banking Authority). 2016. ‘ EBA Report on the Dynamics and Drivers of Non-Performing Exposures in the EU Banking Sector ’, Paris. 22 July.
EBA (European Banking Authority). 2019. ‘ Report on NPLs, Progress Made and Challenges Ahead ’.
EBA (European Banking Authority). 2021. Guidelines Compliance Table–Guidelines on Disclosure of Non-Performing and Forborne Exposures. Paris: EBA/GL/2018/10. Date of application 31 December 2019, published on 18 January 2021
EBF (European Banking Federation) 2021. ‘Banking Sector Performance’; available at: https://www.ebf.eu/facts-and-figures/banking-sector-performance/
ECB (European Central Bank). 2021. ‘Supervisory Priorities and Assessment of Risks and vulnerabilities’; available at: https://www.bankingsupervision.europa.eu/banking/priorities/html/index.en.html
Epstein, R. 2017. Banking on Markets: The Transformation of Bank-State Ties in Europe and Beyond. Oxford: OUP.
Epstein, R., and M. Rhodes. 2014. “ International in Life, National in Death? Banking Nationalism on the Road to Banking UnionPolitik- und Sozialwissenschaften, Otto- Suhr-Institut fur Politikwissenschaft Kolleg-Forschergruppe “The Transformative Power of Europe”.” KFG Working Paper Series. 61 BerlinBerlin Freie Universitat FB https://nbn-resolving.org/urn:nbn:de:0168-ssoar-413148
Epstein, R., and M. Rhodes. 2016. “ The Political Dynamics Behind Europe’s New Banking Union.” West European Politics 39 (30): 415–437. doi: 10.1080/01402382.2016.1143238.
Epstein, R., and M. Rhodes. 2018. “ From Governance to Government: Banking Union, Capital Markets Union and the New EU.” Competition & Change 22 (2): 205–224. doi: 10.1177/1024529417753017.
European Parliament 2018. ‘Public Hearing with Elke König, Chair of the ECB Supervisory Board, Presenting the SRB Annual Report 2018’, ECON, 11 July, available at: https://www.europarl.europa.eu/RegData/etudes/BRIE/2018/624403/IPOLBRI2018624403EN.pdf
Fleming, S., and M. Arnold 2021. ‘Paris and Berlin Lead Fight to Dilute Brussels’ Stricter Bank Capital rules’, Financial Times, 8 June; available at: https://www.ft.com/content/0122b5c4-1cd2-4c17-aaee-590f10205543
Gandrud, C., and M. Hallerberg. 2016. “ Does Banking Union Worsen the Eu’s Democratic Deficit? The Need for Greater Supervisory Data Transparency.” JCMS: Journal of Common Market Studies 53 (4): 769–785. doi: 10.1111/jcms.12226.
Gren, J., D. Howarth, and L. Quaglia. 2015. “ Supranational Banking Supervision in Europe: The Construction of a Credible Watchdog.” Journal of Common Market Studies Annual Review 53 (s1): 181–199. doi: 10.1111/jcms.12271.
Hardie, I., and H. Macartney. 2016. “ Too Big to Separate? EU Ring-Fencing and the Defence of Too-Big-To-Fail Banks.” West European Politics 39 (3): 503–525. doi: 10.1080/01402382.2016.1143240.
Heldt, C. E., and T. Mueller. 2021. “ The (Self-)Empowerment of the European Central Bank During the Sovereign Debt Crisis.” Journal of European Integration 43 (1): 83–98. doi: 10.1080/07036337.2020.1729145.
Högenauer, A.L. 2023. “ The ECB as a Banking Supervisor: Transparent Compared to What? ” Journal of European Integration.
Holzmann R., E. Helmut, W. Pierre, R. Dimitar, V. Boris, R. Jiří, M. Madis et al. 2021. ‘The EU Should Stick to the Basel III agreement’, 7 September; available at: https://www.fi.se/contentassets/2a225429b12e471488dbfcd4b7531cf4/joint-letter-concerning-basel-iii.pdf
Howarth, D., and S. James. 2023. Bank Politics: Bank Structural Reform in Comparative Perspective. Oxford: OUP.
Howarth, D., and L. Quaglia. 2013. “ Banking on Stability: The Political Economy of New Capital Requirements in the European Union.” Journal of European Integration 35 (3): 333–346. doi: 10.1080/07036337.2013.774780.
Howarth, D., and L. Quaglia. 2016. The Political Economy of Banking Union. Oxford: Oxford University Press.
Howarth, D., and L. Quaglia. 2018. “ The Difficult Construction of a European Deposit Insurance Scheme: A Step Too Far in Banking Union? ” Journal of Economic Policy Reform 21 (3): 190–209. doi: 10.1080/17487870.2017.1402682.
IMF (International Monetary Fund). 2015. ‘Strategy for Resolving Europe’s Problem Loans’, Staff Discussion Note, edited by S. Aiyar, W. Bergthaler, J. M. Garrido, A. Ilyina, A. Jobst, K. Kang, D. Kovtun, Y. Liu, D. Monaghan, and M. Moretti. Washington.
Kirakul, S., J. Yong, and R. Zamil. 2021. “ The Accountability Regime of Banking Supervisors: With Great Power Comes Great Responsibility.” Financial Stability Institute FSI Briefs No 14, 1–10.
Kudrna, Z. 2016. “ Financial Market Regulation: Crisis-Induced Supranationalization.” Journal of European Integration 38 (3): 251–264. doi: 10.1080/07036337.2016.1140153.
Lautenschläger, S. 2018. ‘European Banking Supervision–Towards a Common Culture. Statement by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Eurofi Financial Forum 2018, Vienna’. 6 September. Retrieved from: https://www.ecb.europa.eu/press/key/date/2018/html/ecb.sp180906_1.en.html
Liedorp, F., R. Mosch, C. Van der Cruijsen, and J. De Haan. 2013. “ Transparency of Banking Supervisors.” IMF Economic Review 61 (2): 310–335. doi: 10.1057/imfer.2013.11.
Mabbett, D., and W. Schelkle. 2019. “ Independent or Lonely? Central Banking in Crisis.” Review of International Political Economy 26 (3): 436–460. doi: 10.1080/09692290.2018.1554539.
Moschella, M., and L. Quaglia. 2019. “ European Banking Union to the Rescue? How Supranational Institutions Influenced Crisis Management in Italy.” South European Society & Politics 24 (4): 421–440. doi: 10.1080/13608746.2020.1728957.
Nielsen, B., and S. Smeets. 2017. “ The Role of the EU Institutions in Establishing the Banking Union. Collaborative Leadership in the EMU Reform Process.” Journal of European Public Policy 25 (9): 1233–1256. doi: http://dx.doi.org/10.1080/13501763.2017.1285342.
Noonan, L., J. Brunsden, and C. Binham 2015. ‘Europeans Move to Undercut Global Bank Capital rules’, Financial Times, 12 October; available at: https://www.ft.com/content/142fc04c-6da6-11e5-8171-ba1968cf791a
Nouy, D. 2018. Speech by Danièle Nouy, Chair of the Supervisory Board of the ECB, Financial Stability Conference 2018, Berlin, 31 October.
Petit, A.C. 2023. “ Failing or Likely to Fail’: Banking Union Cooperation Tested Since 2017.” Journal of European Integration.
Pierret, L., and D. Howarth. 2023. “ Moral Hazard, Central Bankers, and Banking Union: Professional Dissensus and the Politics of European Financial System Stability.” Journal of European Integration.
Piroska, D., and R. Epstein. 2023. “ Stalled by Design: New Paradoxes in the European Union’s Single Financial Market.” Journal of European Integration.
Praet, P. 2017. ‘ Towards Banking Union ’, Remarks, LUISS conference, ‘Europe 2017: Make it or break it’, Rome. 24 January; available at: https://www.ecb.europa.eu/press/key/date/2017/html/sp170124.en.html
Quaglia, L. 2019. “ The Politics of an ‘Incomplete’ Banking Union and Its ‘Asymmetric’ Effects.” Journal of European Integration 41 (8): 955–969. doi: 10.1080/07036337.2019.1622541.
Quaglia, L., Howarth, D. and Liebe, M. (2016) ‘The Political Economy of European Capital Markets Union’, Journal of Common Market Studies Annual Review, 54 (s1): 185-203.
Quaglia, L., and S. Royo. 2015. “ Banks and the Political Economy of the Sovereign Debt Crisis in Italy and Spain.” Review of International Political Economy 22 (3): 485–507. doi: 10.1080/09692290.2013.877059.
Quaglia, L., and A. Verdun. 2023. “ The European Central Bank, the Single Mechanism and the COVID-19 Related Economic Crisis: A Neofunctionalist Analysis.” Journal of European Integration.
Schaffer, D. 2016. “ A Banking Union of Ideas? The Impact of Ordoliberalism and the Vicious Circle on the EU Banking Union.” Journal of Common Market Studies 54 (4): 961–980. doi: 10.1111/jcms.12351.
Schelkle, W. 2017. The Political Economy of Monetary Solidarity: Understanding the Euro Experiment. Oxford: Oxford University Press.
Schimmelfennig, F. 2016. “ A Differentiated Leap Forward: Spillover, Path-Dependency, and Graded Membership in European Banking Regulation.” West European Politics 39 (3): 483–502. doi: 10.1080/01402382.2016.1143244.
Schoenmaker, D. 2011. “ ‘The Financial Trilemma’. Duisenberg School of Finance - Tinbergen Institute Discussion Paper.” TI 11-019/DSF 7available at. http://papers.tinbergen.nl/11019.pdf
Schoenmaker, D. 2013. Governance of International Banking: The Financial Trilemma. Oxford: Oxford University Press.
Scholz, O. 2019. ‘Germany Will Consider EU-Wide Bank Deposit reinsurance’, Financial Times, 5 November; available at: https://www.ft.com/content/82624c98-ff14-11e9-a530-16c6c29e70ca
Skuodis, M. 2017. “ Playing the Creation of the European Banking Union: What Union for Which Member States.” Journal of European Integration 40 (1): 99–114. doi: 10.1080/07036337.2017.1404056.
Spendzharova, A. 2016. “ Regulatory Cascading: Limitations of Policy Design in European Banking Structural Reforms.” Policy and Society 35 (3): 227–237. doi: 10.1016/j.polsoc.2016.09.001.
Spendzharova, A., and E. Bayram. 2016. “ Banking Union Through the Back Door? The Impact of European Banking Union on Sweden and the Baltic States.” West European Politics 39 (3): 565–584. doi: 10.1080/01402382.2016.1143245.
Tuori, K. 2023. “ Banking Union — a Stability-Oriented Macroeconomic or an Efficiency-Oriented Microeconomic Project? ” Journal of European Integration 1–16. doi: 10.1080/07036337.2022.2158823.
Villeroy de Galau, F. 2021. ‘The Banking Union: Time to Move Forward again’, Speech at the Eurofi Financial Forum, 10 September, Ljubljana; available at: https://www.bis.org/review/r210921a.htm
Zeitlin, J. 2023. “ Hierarchy, Polyarchy, and Experimentalism in EU Banking Regulation: The Single Supervisory Mechanism in Action.” Journal of European Integration.