CIGI Paper No 73: European Banking Union, Three Years On

Year of Publication
Miranda Xafa
CIGI PAPERS No. 73 June 2015
Document Type


Banking union involves the transfer of authority over banking policy from the national to the European level. It is a major step in the economic and monetary integration of the European Union, and aims to end large taxpayer-funded bailouts and national policies that protect domestic banks at the expense of financial stability. This paper describes the rationale for banking union, four key pieces of legislation that constitute its legal foundation and two mechanism that form its key pillars.