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Can the banking union foster market integration, and what lessons does this hold for Capital Markets Union?
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European Parliament; Economic Governance and EMU scrutiny Unit (EGOV); Directorate-General for Internal Policies; In-Depth Analysis; 2024/PE 760.259
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BECK, Thorsten Harald Leopold, BRUNO, Brunella, CARLETTI, Elena, Can the banking union foster market integration, and what lessons does this hold for Capital Markets Union?, European Parliament, Economic Governance and EMU scrutiny Unit (EGOV), Directorate-General for Internal Policies, In-Depth Analysis, 2024/PE 760.259 - https://hdl.handle.net/1814/77912
Abstract
We discuss the contribution of the Banking Union in its current form to market integration in the euro area. While the introduction of single supervision has fostered banking integration, limited progress in single resolution and the absence of a European deposit insurance scheme undermine further advancements. We argue that a significant obstacle to financial integration lies in the persistence of national interests in regulation, supervision, and politics. We also explore the lessons that can be learned from ten years of the Banking Union for the development of the Capital Markets Union and the integration of capital markets. The successes of the Banking Union in common supervision and rule-setting can provide a path forward. This document was provided by Economic Governance Support Unit at the request of the ECON Committee.
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Published online: 01 October 2024