ScholarLens Back to search
2020•Revista de Direito do ConsumidorRequires access

Consumer Protection In The Eu Banking Union: The Case Of The European Deposit Insurance Scheme

Der‐Chin Horng

Open publisher page 0 citations

Abstract

The global financial crisis of 2008 brought to light many shortcomings in banking supervision in the EU. ln particular, the general limitation of banking supervision, resolution pro­ cesses deposit schemes at the national levei, and fai1uretoeffectively cover trans-nationa1 banking activities.The banking union is one of the most important reforms undertaken by the EU to ad­ dress this supervisory failure. The banking union has three pillars: (1) the Single Supervisory Mecha­ nism (SSM); (2) the Single Resolution Mechanism (SRM); and (3) the European Deposit lnsurance Scheme (EDIS). The banking union is an important step towards a genuine Economic and Monetary Union. lt allows for the consistent application of EU banking rules in the participating countries. The banking union as a wholewill contributeto the EU's financial stability and to consumer protection.

About this research paper

What this paper is about

The global financial crisis of 2008 brought to light many shortcomings in banking supervision in the EU. ln particular, the general limitation of banking supervision, resolution pro­ cesses deposit schemes at the national levei, and fai1uretoeffectively cover trans-nationa1 banking activities.The banking union is one of the most important reforms undertaken by the EU to ad­ dress this supervisory failure. The banking union has three pillars: (1) the Single Supervisory Mecha­ nism (SSM); (2) the Single Resolution Mechanism (SRM); and (3) the European Deposit lnsurance Scheme (EDIS). The banking union is an important step towards a genuine Economic and Monetary Union. lt allows for the consistent application of EU banking rules in the participating countries. The banking union as a wholewill contributeto the EU's financial stability and to consumer protection.

Why it matters

A significance statement is not available in the OpenAlex record.

Key contribution

A contribution statement is not available in the OpenAlex record.

Method / approach

Method details are not available in the OpenAlex metadata.

Main findings

Findings are not separately available in the OpenAlex metadata.

Limitations

Limitations are not available in the OpenAlex metadata.

Applications

Application details are not available in the OpenAlex metadata.

Available abstract

The global financial crisis of 2008 brought to light many shortcomings in banking supervision in the EU. ln particular, the general limitation of banking supervision, resolution pro­ cesses deposit schemes at the national levei, and fai1uretoeffectively cover trans-nationa1 banking activities.The banking union is one of the most important reforms undertaken by the EU to ad­ dress this supervisory failure. The banking union has three pillars: (1) the Single Supervisory Mecha­ nism (SSM); (2) the Single Resolution Mechanism (SRM); and (3) the European Deposit lnsurance Scheme (EDIS). The banking union is an important step towards a genuine Economic and Monetary Union. lt allows for the consistent application of EU banking rules in the participating countries. The banking union as a wholewill contributeto the EU's financial stability and to consumer protection.

Key concepts: Banking union, Deposit insurance, European union, Business, Financial system, Financial regulation, Financial crisis, Economic and monetary union

Related papers

Related paper 1Related paper 2Related paper 3
Back to paper searchBrowse research topicsOriginal source
Consumer Protection In The Eu Banking Union: The Case Of The European Deposit Insurance Scheme — Research Paper | ScholarLens