21 Novembre 2013

BCE: Speech by Yves Mersch: On the road to a banking union: the way forward from the ECB's perspective

20 novembre 2013 Speech by Yves Mersch, Member of the Executive Board of the ECB,

at the 16th Euro Finance Week (Frankfurt am Main, 18 November 2013)

"Ladies and gentlemen,

Last year, questions surrounding the banking union concerned fundamental concepts: How can we break the close links between countries and their banks? How can Europe's fragmented financial market become better integrated again?

While the objectives have remained the same, the public debate is now focusing more on the details of its implementation: What exactly will the balance sheet analysis look like? And how will balance sheet assessments and stress tests be combined? How, precisely, will the ECB's supervisors cooperate with their colleagues from the national supervisory authorities?

To the extent possible, I would like to begin today by answering some of these questions. I will also return to the key conceptual idea behind the banking union: the desire to establish uniform basic conditions for everyone all over Europe - conditions that will allow us to break the close links between countries and their banks and establish a single financial market.

Specifically, I will address two questions :

1. First, how is the fundamental idea behind the banking union reflected in the practical design of the single system of banking supervision?

2. Second, what else can we do to be faithful to that fundamental idea when banks cease to be viable and have to be wound up?"



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