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The European Parliament is expected to vote in May 2013 on the single supervisory mechanism, which allows the European Central Bank to exercise direct supervision on banks in the Eurozone.
The European Parliament is expected to vote in May 2013 on the
single supervisory mechanism, which allows the European
Central Bank to exercise direct supervision on banks in the
Eurozone. European banking supervision is the first step towards a
banking union.
The EU Council and European Parliament have reached agreement on
the proposal, but Germany has expressed objections to the final
text, as no clear distinction is made between the ECB's
monetary policy and its financial supervision.
De Brauw has prepared a legal alert about the banking union.
Please contact one of your regular contacts at De Brauw if you
would like to receive the alert. It can also be downloaded at
www.debrauw.com
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
