Zsófia Kenesey – University of Sopron, Sopron, Bajcsy-Zsilinszky u. 4, 9400 Hungary

László Pataki – Szent István University, Gödöllő, Páter Károly u. 1, 2100 Hungary

DOI: https://doi.org/10.31410/EMAN.2020.43


4th International Scientific Conference – EMAN 2020 – Economics and Management: How to Cope With Disrupted Times, Online/Virtual, September 3, 2020, CONFERENCE PROCEEDINGS published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-30-1, ISSN 2683-4510

Abstract:

The De Larosiére report initiating the establishment of the financial system of the European
Union was published in the year following the global economic crisis of 2008, on 25 February 2009.
Already in June of this year, the European Council accepted a document known as the Single Rulebook,
which contains common rules related to the financial sector of the EU, however, the real break-through
was achieved with the working paper accepted by the European Committee in December 2012, which
initiated the establishment of the institutional system of the banking union. The individual elements of
the system constituted by three pillars have been gradually developed, however, it is still not complete.
The single banking supervising system started its operation in November 2014, the resolution mechanism
in January 2016, however, the single deposit-guarantee system has not yet been established. The
purpose of the study is to present the events of the recent 11 years, during which the currently known
institutional system of the banking union was established.

Keywords:

Banking sector, Banking union, Development.

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