Description:
This section of the European Commission website provides information on the Banking Union which was set up following the financial crisis to create a safer financial sector for the single market. The first two ‘pillars’ of the Banking Union are a single supervisory mechanism (SSM) and single resolution mechanism (SRM). These are explained on the site, and links are given to related documents and EU directives. There is also information on the third pillar, the European deposit insurance scheme, and details of the European Commission’s proposal to create sovereign bond-backed securities.
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