A Banking Union for the Euro Area

By Rishi Goyal, Petya Koeva Brooks, Mahmood Pradhan, Thierry Tressel, Giovanni Dell'Ariccia, Ceyla Pazarbasioglu

February 12, 2013

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Rishi Goyal, Petya Koeva Brooks, Mahmood Pradhan, Thierry Tressel, Giovanni Dell'Ariccia, and Ceyla Pazarbasioglu. A Banking Union for the Euro Area, (USA: International Monetary Fund, 2013) accessed November 12, 2024

Disclaimer: This Staff Discussion Note represents the views of the authors and does not necessarily represent IMF views or IMF policy. The views expressed herein should be attributed to the authors and not to the IMF, its Executive Board, or its management. Staff Discussion Notes are published to elicit comments and to further debate.

Summary

The SDN elaborates the case for, and the design of, a banking union for the euro area. It discusses the benefits and costs of a banking union, presents a steady state view of the banking union, elaborates difficult transition issues, and briefly discusses broader EU issues. As such, it assesses current plans and provides advice. It is accompanied by three background technical notes that analyze in depth the various elements of the banking union: a single supervisory framework; a single resolution and common safety net; and urgent issues related to repair of weak banks in Europe.

Subject: Bank resolution, Bank resolution framework, Banking, Deposit insurance, Financial crises, Financial sector policy and analysis, Lender of last resort, Systemic risk

Keywords: Bank recapitalization, Bank resolution, Bank resolution framework, Banking union, Central bank, Common Backstops, Deposit Insurance, Direct Resolution, ECB funding, Europe, Financial market, Insurance fund, Lender of last resort, Monetary policy, Resolution authority, SDN, Single Supervisory Mechanism, Systemic risk

Publication Details

Pages:

31
Volume:

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DOI:

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Issue:

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Series:

Staff Discussion Notes No. 2013/001
Stock No:

SDNEA2013001
ISBN:

9781475521160
ISSN:

2617-6750

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