Bruegel just published a report, prepared by Dirk Schoenmaker and Nicolas Veron with contributions from nine country experts. We believe it to be the first in-depth study of how European Banking Supervision (also known as the Single Supervisory Mechanism) works in practice, a year and a half after its start in November 2014.
The report includes a euro-area-level overview, with a general assessment and a lot of data which we hope you will find interesting. The nine country chapters add anecdotal color while illustrating the wide diversity of experiences and perceptions in different member states.
Overall, we find European Banking Supervision to be broadly effective, tough, and fair, but we also identify mistakes, areas for improvement, and unfinished business that will eventually need to be addressed to fulfil the promise of banking union. I would be most interested in your reactions.
Compliments of Bruegel