Towards a meaningful prudential supervision dialogue in the euro area? A study of the interaction between the European Parliament and the European Central Bank in the single supervisory mechanism

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• dc.contributor.author Amtenbrink, Fabianca
• dc.contributor.author Markakis, Menelaosca
• dc.date.accessioned 2018-04-25T08:36:01Z
• dc.date.available 2018-04-25T08:36:01Z
• dc.date.issued 2017-12
• dc.description.abstract This working paper focuses on the accountability arrangements for the ECB in the framework of the EU's Banking Union. For this purpose, first of all an analytical framework for the purposes of evaluating the preconditions and instruments of accountability placed at the disposal of the European Parliament in the Single Supervisory Mechanism is set out. Thereafter the powers conferred on the European Parliament in the legal framework of the SSM to hold the Supervisory Board to account for the exercise of its duties are examined based on this framework. Notably, the paper highlights the lack of a clear yardstick against which to assess the ECB's performance in the area of banking supervision, as well as a gap in terms of the ability of the European Parliament to assign consequences to the ECB's conduct. Furthermore, the interaction between the European Parliament and the Supervisory Board of the ECB, as evidenced through the parliamentary hearings that have been held thus far, is examined. A qualitative analysis of these hearings notably highlights the topics covered in those hearings, as well as the attitude of the MEPs towards the institutional structure and accountability arrangements in the Banking Union. Finally, a number of concrete proposals for enhancing the role of the European Parliament as an accountability holder in the Banking Union are made.ca
• dc.description.sponsorship The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.
• dc.format.mimetype application/pdfca
• dc.identifier.uri http://hdl.handle.net/10230/34451
• dc.language.iso engca
• dc.relation.ispartofseries ADEMU Working Paper Series;81
• dc.relation.projectID info:eu-repo/grantAgreement/EC/H2020/649396
• dc.rights This is an Open Access article distributed under the terms of the Creative Commons Attribution License Creative Commons Attribution 4.0 International, which permits unrestricted use, distribution and reproduction in any medium provided that the original work is properlyattributed.ca
• dc.rights.accessRights info:eu-repo/semantics/openAccessca
• dc.rights.uri https://creativecommons.org/licenses/by/4.0/ca
• dc.subject.keyword Banking unionen
• dc.subject.keyword Single supervisory mechanismen
• dc.subject.keyword European Central Banken
• dc.subject.keyword European Parliamenten
• dc.subject.keyword Supervisory dialogueen
• dc.subject.keyword Accountabilityen
• dc.subject.keyword Transparencyen
• dc.title Towards a meaningful prudential supervision dialogue in the euro area? A study of the interaction between the European Parliament and the European Central Bank in the single supervisory mechanismca
• dc.type info:eu-repo/semantics/workingPaperca