scholarly journals Malta

2019 ◽  
Vol 19 (347) ◽  
Author(s):  
Keyword(s):  
European Union ◽  
Central Bank ◽  
Money Laundering ◽  
Euro Area ◽  
European Central Bank ◽  
Single Supervisory Mechanism ◽  
European Central ◽  
Policies And Procedures ◽  
Financing Of Terrorism

The mission focused on selected topics in relation to the supervision of less significant institutions (LSIs), which are not directly supervised by the European Central Bank (ECB), and on non-European Union (EU) branches. The supervision of all banks’ anti-money laundering and combating the financing of terrorism (AML/CFT) policies and procedures was also included, as no tasks related to AML/CFT have been conferred upon the Single Supervisory Mechanism (SSM) of the eurozone. The mission took into account the findings and recommendations formulated by the 2018 euro area (EA) FSAP and coordinated closely with FSAP missions organized in France and Italy.

Dramatis Institutiones

2017 ◽  
Author(s):  
C. Randall Henning
Keyword(s):  
European Union ◽  
Central Bank ◽  
International Monetary Fund ◽  
Euro Area ◽  
European Central Bank ◽  
The European Union ◽  
European Central ◽  
Regime Complex ◽  
Basic Facts ◽  
Institutional Conflict

The regime complex for crisis finance in the euro area included the European Council, Council of the European Union, and Eurogroup in addition to the three institutions of the troika. As the member states acted largely, though not exclusively, through the council system, these bodies stood at the center of the institutional mix. This chapter reviews the institutions as a prelude to examining the dilemmas that confronted them over the course of the crises. It presents a brief review of some of the basic facts about their origins, membership, and organization. Each section then delves more deeply into these institutions’ governance and principles to understand their capabilities and strategic challenges. As a consequence of different mandates and design, the European Commission, European Central Bank, and International Monetary Fund diverged with respect to their approach to financing, adjustment, conditionality, and debt sustainability. This divergence set the stage for institutional conflict in the country programs.

The Legality Of Responses To The Crisis

2020 ◽  
Author(s):  
Alicia Hinarejos
Keyword(s):  
European Union ◽  
Central Bank ◽  
Euro Area ◽  
European Central Bank ◽  
Financial Regulation ◽  
Banking Union ◽  
The European Union ◽  
European Central ◽  
Financial Framework ◽  
The Creation

The euro area crisis required a swift and multi-faceted response. The different facets of this response have already been discussed in this volume: first, a quick intervention was necessary in order to stabilize the situation of euro countries. To this end, several loan facilities were created, and the European Central Bank (ECB) also played an important role in calming down the markets. Second, various measures were adopted in order to improve Member States’ budgetary surveillance and economic coordination. Third, to improve financial regulation and oversight, the European Union (EU) has undertaken important reforms aimed at the creation of a stronger financial framework, and a so-called ‘banking union’ for the euro area.

scholarly journals The Binding Force of Babel: The Enforcement of EC Law Unpublished in the Languages of the New Member States

2007 ◽  
Vol 9 ◽  
pp. 43-80 ◽  
Author(s):  
Michal Bobek
Keyword(s):  
European Union ◽  
Central Bank ◽  
European Central Bank ◽  
The European Union ◽  
Member States ◽  
Community Law ◽  
New Member States ◽  
European Central ◽  
Binding Force ◽  
Ec Law

On 1 may 2004, 10 new Member States joined the European Union. This meant inter alia that, save for the express derogations provided for in the Act of Accession, the entire mass of Community secondary legislation became binding in the new Member States. This principle of the immediate effects of Community law in the new Member States was provided for in Article 2 AA: From the date of Accession, the provisions of the original Treaties and the acts adopted by the institutions and the European Central Bank before Accession shall be binding on the new Member States and shall apply in those States under the conditions laid down in those Treaties and in this Act.

The European Central Bank

2018 ◽  
Author(s):  
Chiara Zilioli ◽  
Phoebus Athanassiou
Keyword(s):  
European Union ◽  
Central Bank ◽  
Monetary Union ◽  
European Central Bank ◽  
Central Banks ◽  
The European Union ◽  
European Central ◽  
European System ◽  
The Eu

The provisions on Monetary Union (MU), of the Treaty on the functioning of the European Union (TFEU or the Treaty), as well as the Statute of the European System of Central Banks and of the European Central Bank (the Statute), are important in their own right, and are amongst those from which any student of the European Union (EU) can learn a great deal with regard to the EU.

Titles II and III: Preparation and Early Intervention

2017 ◽  
Author(s):  
Gabriel Moss QC ◽  
Bob Wessels ◽  
Matthias Haentjens
Keyword(s):  
Early Intervention ◽  
Central Bank ◽  
European Central Bank ◽  
Banking Union ◽  
Financial Situation ◽  
Single Supervisory Mechanism ◽  
European Central ◽  
Early Action ◽  
The Individual

As the European Commission has succinctly explained, ‘institutions will be required to draw up recovery plans setting out arrangements and measures to enable it to take early action to restore its long term viability in the event of a material deterioration of its financial situation. Groups will be required to develop plans at both group level and for the individual institutions within the group. Supervisors will assess and approve recovery plans’. Thus, institutions must draw up ‘recovery plans’ which are to be approved by the relevant supervisory authorities, so as to have a plan in place that might be useful to help turn around a material deterioration of the financial situation that institution may face. The ‘relevant supervisors’ are the European Central Bank (ECB) under the Single Supervisory Mechanism (SSM) for systemically important institutions, and the national supervisory authorities for less systemically important institutions, as well as for institutions outside of the Banking Union.

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