Banking Union
EU Fact Sheets
01-06-2017
The Banking Union was created as a response to the financial crisis and currently has two elements, the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM). The SSM supervises the largest and most important banks in the euro area directly at European level, while the purpose of the SRM is to resolve failing banks in an orderly manner with minimal costs for taxpayers and for the real economy. A third element, a European Deposit Insurance Scheme (EDIS), is currently under discussion.
EU Fact Sheets
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Publication type
Author
Policy area
Keyword
- bank deposit
- banking supervision
- BUSINESS AND COMPETITION
- coordination of EMU policies
- EU institutions and European civil service
- euro area
- European Central Bank
- European construction
- EUROPEAN UNION
- FINANCE
- financial institution
- financial institutions and credit
- financial market
- financial requirements
- free movement of capital
- management
- monetary crisis
- monetary economics
- monetary relations
- parliament
- parliamentary scrutiny
- POLITICS
- single market