Parliament case studies: Accountability of the European Banking Union

10 September 2024

The European Banking Union has marked a substantial transfer of powers for banking supervision and resolution from the national to the supranational arena. With power and independence comes accountability to ensure that the competences are exercised in accordance with their legal framework.

This paper analyses existing accountability mechanisms and concludes that accountability should be strengthened in light of the relevance of supervisory and resolution decisions both on an individual fundamental rights level and at the global policy level. 

 

Parliament

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