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The impact of local claims in local currency in the international expansion of global banks
The paper analyzes how foreign claims of international banking groups evolve and what factors stabilize them. It looks at 76 banking groups from the Global Systemically Important Banks (G-SIB) assessment in 2020, studying their...
This article examines the evolution of the Banking Union over its first decade, focusing on what the author calls the joint-interaction model of integration. This model, exemplified by the Single Supervisory Mechanism (SSM) and the Single Resolution Board (SRB), emphasizes day-to-day collaboration between European and national authorities, fostering a truly single approach to banking supervision and crisis management. The article highlights the successes of this model in enhancing the financial resilience of the eurozone banking system, while also acknowledging its limitations, such as the slow progress in cross-border market integration. It explores the potential for extending this model to other areas of EU policy, such as anti-money laundering and capital markets supervision, suggesting that the joint-interaction approach could serve as a blueprint for deeper European integration in the face of ongoing political and economic challenges.
This paper is part of the Banking Supervision Policy Working Paper Series in the context of the SSM-EUI partnership on SSM Banking Supervision Learning Services. Read more.