Balancing macro- and microprudential powers in the SSM during the COVID-19 crisis

Research output: Chapter in Book / Report / Conference proceedingChapterAcademicpeer-review

Abstract

In this Chapter, the implementation of specific measures by the ECB and the National Competent Authorities to offer capital and liquidity relief to banks after the outbreak of the COVID-19 pandemic are being discussed. It is highlighted that the measures implemented throughout Europe are very divergent and lack an uniform approach. This may be related to the fact that the Single Supervisory Mechanism by design maintained the allocation of powers and authorities to the national competent authorities in respect of macroprudential supervision. This contribution challenges this allocation of powers and authorities and suggests that further centralisation with the ECB is warranted.
Original languageEnglish
Title of host publicationPandemic Crisis and Financial Stability
EditorsChristos Gortsos, Georg Ringe
PublisherEuropean Banking Institute
Chapter10
Pages339-360
Number of pages22
Publication statusPublished - 1 May 2020

Keywords

  • Prudential Supervision
  • Banks
  • Microprudential
  • Macroprudential
  • Single Supervisory Mechansim
  • ECB
  • COVID 19
  • Pandemic Crisis Measures
  • Capital Requirements

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