This article addresses the question of whether the European Central Bank’s (ECB’s) involvement in banking supervision is compatible with its independent status as provided by the European Union’s (EU’s) primary law, specifically with reference to the principle of separation between the ECB’s monetary policy and supervisory powers. It is found that the Single Supervisory Mechanism (SSM) Regulation provides the ECB with a set of prerequisites in pursuit of its supervisory objectives under a high level of independence. However, the article argues that the current EU regulatory framework poses risks to the overall independence of the ECB. In particular, the principle of separation, as one of the mechanisms aimed at safeguarding the ECB’s independence, is not fully achieved. In addition, the boundaries and application of macro-prudential operation of the ECB in both the SSM and European Systemic Risk Board (ESRB) remain blurry and uncertain. The article concludes by suggesting that the only way to safeguard the independence of the ECB is by carefully revising the ECB’s competencies, which may require treaty amendment. |
Search result: 5 articles
Article |
The ECB’s Independence and the Principle of Separation |
Journal | European Journal of Law Reform, Issue 3 2020 |
Keywords | ECB, Banking Supervision, Banking Supervision Centralization, Prudential Supervision, European Union, EU Law, Banking Union, Central Banking Independence, SSMR, SSMR |
Authors | Pamela Nika |
AbstractAuthor's information |
Human Rights Literature Review |
Lithuania |
Journal | East European Yearbook on Human Rights, Issue 1 2018 |
Authors | Vygantė Milašiūtė PhD |
Author's information |
Article |
Intellectual Property Rights Protection for Data Received from Outer Space |
Journal | International Institute of Space Law, Issue 10 2015 |
Authors | Sadaf Amrin Fathima |
Author's information |
Article |
Medically Assisted Reproduction in Egypt, Iran, Saudi Arabia and the United Arab EmiratesSunni and Shia Legal Debates |
Journal | European Journal of Law Reform, Issue 2 2014 |
Keywords | medically assisted reproduction, Islam, Middle East, family formation, law |
Authors | Andrea Büchler and Eveline Schneider Kayasseh |
AbstractAuthor's information |
Since the mid-1980s, biotechnologies have been widely used to assist human conception around the world, and especially in the Middle East. In this article, our main focus is the United Arab Emirates (UAE), as well as Egypt, the Islamic Republic of Iran, and Saudi-Arabia. In these Muslim-majority countries, an ever rising demand for fertility treatments runs parallel to far-reaching demographic and social changes. While assisted reproductive technologies offer various methods to pursue the desire to have biological children, they do also underscore religious and cultural sensibilities about traditional male-female relationships and family formation. |
Miscellaneous |
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Journal | Netherlands Journal of Legal Philosophy, Issue 1 2012 |
Authors | Anne Ruth Mackor |
Author's information |