Deposit Guarantee Schemes: A European Perspective by F. Arnaboldi

By F. Arnaboldi

Arnaboldi highlights the significance of 1 of the 3 pillars of the Banking Union, the typical mechanism for insuring deposits. She claims that built-in monetary markets require a eu resolution in regards to deposit assurance and that the institution of a pan-European scheme might handle the issues for giant cross-border banks.

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Nevertheless, banking sector restructuring has been slow, with few bank liquidations since the beginning of the crisis. 6 per cent of EU GDP in 2012). 7 per cent of EU GDP in 2012). 14 per cent of EU GDP in 2012). Such an amount of aid and liquidity would probably have worked better in a single and coordinated framework. 0010  Deposit Guarantee Schemes The adverse loop between banks and public finance, the relative size of the European banking system compared to national GDP and the slow restructuring process of the industry are just three of the pitfalls that can be addressed better at the European level through the establishment of a banking union.

The smooth operation of the internal market requires not only legal rules, but also close cooperation and significantly enhanced convergence of regulatory and supervisory practices between the member states. In addition, the CRR lays down a single set of rules concerning general prudential requirements across the EU. As a regulation, the CRR applies directly to every member state, thus leaving no scope for arbitrary interpretation and ensuring certainty as to the law for all EU single market players.

2003; Buch & Heinrich, 2002). Some of these appear to be particularly burdensome, such as issues of consumer trust and confidence, causing depositors to prefer local or national banks to foreign banks, or local banks’ access to private information concerning borrowers’ creditworthiness, which creates a rent that is unavailable to competing foreign banks. , 2011). Prior to the crisis, EU banking groups rapidly increased in size, scope and complexity. According to Draghi (2014a), financial integration before the crisis was incomplete.

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