"The Banking Union: State of Art" - new mBank-CASE publication
It is widely believed that the creation of the banking union initiated the integration of the EU banking market. The process is traced back to June 2012 (EU Summit decided to create the banking union), 4 November 2013 (effective date of the Banking Union Regulation), or 4 November 2014 (operational launch of the Single Supervisory Mechanism, SSM). However, the integration of the EU banking market began much earlier and the creation of the banking union should be considered the final rather than the initial step in the process.
In fact, the integration began as early as 1990s with the introduction of the single passport which allows a bank licensed in one member state to operate across the European Union through branches in other member states.
The solution was devised mainly for banks licensed in one member state and operating in another member state on a small scale, rendering the establishment of a subsidiary bank uneconomical. This practical facilitation was creatively exploited by the largest European banks, which effectively transformed the EU banking market.
To find out more about the banking union, please download the publication with papers by Andrzej Reich and Stefan Kawalec, which were presented during the 137th mBank-CASE Seminar: "The Banking Union: State of Art" (WATCH THE SEMINAR ONLINE).
* mBank–CASE Seminar Proceedings are continuation of PBR–CASE and, since 1998, BRE Bank–CASE Seminar Proceedings Series.
**Don't miss the upcoming mBank - CASE Seminars - sign up for our newsletter and follow us on twitter and facebook!
