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Economic Dialogue with the President of the ECOFIN - 18 November 2024
Mihály Varga, Minister of Finance and Deputy Prime Minister, of Hungary is participating in the ECON Committee in his capacity of President of the ECOFIN Council during the Hungarian Presidency (July - December 2024). In accordance with the Treaty of the Union, “Member States shall regard their economic policies as a matter of common concern and shall coordinate them within the Council”. This document provides an overview of the Hungarian Presidency priorities in ECON matters, including the Council ...
Council position on the CMDI reform- An initial analysis regarding key aspects of the proposed bank crisis management framework
Following the negative reaction from the Commission when the Council published its general approach to the CMDI reform, this briefing provides some initial analysis regaring the key aspects of public interest assessment, resolution objectives and resolution funding. Clearly, the Council aims for a narrower scope of resolution in harmonised procedures by the Banking Union authorities than the Commission and narrows the available funding accordingly, potentially privileging action under national frameworks ...
Public hearing with Dominique Laboureix, Chair of the Single Resolution Board - 23 September 2024
This briefing has been prepared for the public hearing with the Chair of the Single Resolution Board (SRB), Dominique Laboureix, scheduled for 23 September 2024. This briefing addresses: • Regular reporting on MREL- Q1 2024 • Resolvability assessment 2023 • Bail-in mechanics • Forthcoming expectations on valuation capabilities • SRB‘s 2023 annual report • Second SRB’s report on smaller banks in the Banking Union • Two new thematic briefing papers on SRB accountability and on the CMDI Council ...
Recovery and Resilience Dialogue with the European Commission 16 September 2024
Executive Vice-President Dombrovskis and Commissioner Gentiloni are invited to the 16th Recovery and Resilience Dialogue (RRD) under the Recovery and Resilience Facility (RRF) Regulation, scheduled for 16 September 2024. The previous RRD took place on 22 April 2024.
Public hearing with Claudia Buch, Chair of the ECB / SSM Supervisory Board
This briefing has been prepared for the public hearing with the Chair of the Single Supervisory Mechanism (SSM), Claudia Buch, scheduled for 2 September 2024. The previous hearing took place on 21 March 2024.
How to finance EU's growth model amidst global challenges?
This paper provides a review/summary of 10 papers prepared by external experts, which examine and recommend initiatives for financing the EU's growth model amidst global challenges. These papers were requested by the Committee on Economic and Monetary Affairs (ECON) of the European Ϸվ. They may feed into the policy debate on how to frame a forthcoming new European competitiveness deal as agreed by the European Council.
The institutional role of the European Ϸվ in the Economic and Monetary Union
This briefing outlines the institutional role of the European Ϸվ in ensuring democratic accountability within the Economic and Monetary Union (Section 1), notably in its three policy pillars - monetary policy (Section 2), economic governance (Section 3), including recovery and resilience facility (Section 4), and banking supervision/resolution (Section 5). It highlights the EP's legal mandates, as well as its practical involvement through dialogues, resolutions, and public hearings.
Ϸվary scrutiny of the SRB - Discretion in applying the resolution objectives and mechanisms for accountability to Ϸվ
The Single Resolution Board (SRB) possesses statutory, formal independence by law, and its decisions are guided by a set of objectives whose application requires interpretation and trade-offs. The resulting discretion is balanced by accountability to the EU Institutions, and in particular, to the European Ϸվ. To support parliamentary scrutiny of the SRB during the 10th parliamentary term, this briefing presents the provisions on accountability in the SRB’s founding legislation and analyses ...
Uniunea bancară
Uniunea bancară se bazează pe o propunere prezentată de Comisia Europeană în 2012, la câțiva ani de la izbucnirea crizei financiare grave care a început să fie resimțită în UE. Principala inovație a constat în transferarea responsabilității pentru supravegherea zilnică a celor mai mari bănci din zona euro de la nivel național la nivel european. De atunci, Băncii Centrale Europene (BCE) i s-au încredințat atât atribuții de politică monetară, cât și atribuții de supraveghere, chiar dacă îi revenea ...
Single Resolution Board: Accountability arrangements (9th parliamentary term)
This document provides an overview of public hearings and exchange of views with the Chair of the Single Resolution Board (SRB) in the ECON Committee since July 2019. It also provides an overview of all external papers requested by the ECON Committee by a standing panel of banking experts. Lastly, the annex contains an overview of the respective legal bases for these hearings as part of the accountability framework of the SRB. For an overview of public hearings during the 8th parliamentary term, ...