Cuardaigh

Do thorthaí

Ag taispeáint 10 as 41 torthaí

During the June I plenary session, the Council and the European Commission are expected to answer oral questions put by the European Parliament's Committee on Constitutional Affairs (AFCO) on the Parliament's proposal to repeal Decision 95/167/EC (which currently governs Parliament's right of inquiry) and adopt a new regulation to strengthen its investigative powers. Pointing out the Council's unwillingness to engage in political negotiations with Parliament on this file, the AFCO committee asks ...

Accountability at the Fed and the ECB

Grinnanailís 30-09-2020

This paper reviews the independence and accountability of the ECB and the Federal Reserve. While the ECB makes significant efforts to be accountable for its actions, there are several improvements that could be made to European institutions to improve its independence and accountability. These include reforming the process of appointing ECB Executive Board members, improving the transparency of ECB decision-making and reforming aspects of the Monetary Dialogue to make the questioning more effective ...

This paper assesses how the European Parliament (EP) holds the European Central Bank (ECB) accountable. The same exercise is done for the Bank of Japan, in order to identify possible lessons for the ECB and the EP. Possible improvements to the ECB accountability framework include procedural changes to the Monetary Dialogue to increase its effectiveness, the release of detailed minutes and votes from ECB governing council meetings, and the establishment of a ranking by the EU legislators of the ECB ...

The Swiss National Bank is highly independent but weakly accountable. Weak accountability is rooted in the formal legislation on central banking but also in the reputation of the Bank, which is unanimously considered as highly successful. The ECB too is highly independent and weakly accountable but it faces diverse public opinions whose views differ across countries. Buttressing ECB accountability is important, therefore, and the European Parliament should consider strengthening the Monetary Dialogue ...

The paper distinguishes two contrasting models of accountability, one based on principal-agent relations, which is backward-looking, the other a dynamic and forward-looking model. The paper argues that this second model of accountability is more appropriate for independent bodies like the ECB/SSM and the SRB, operating in technically complex, rapidly evolving environments under conditions of high uncertainty, where parliaments and other political authorities have very limited sanctioning powers. ...

This note prepared by the Economic Governance Support Unit provides an overview of the EP’s accountability hearings in the context of the Single Supervisory Mechanism.

The Single Supervisory Mechanism (SSM) is, along with the Single Resolution Mechanism, one of the pillars or the Banking Union (the third pillar, the common deposit guarantee scheme, still pending completion). It comprises the European Central Bank, in its supervisory capacity, and the national supervisory authorities (NCAs) of participating Member States.

The European Parliament's application of scrutiny prerogatives of political oversight of the European Commission increases the democratic legitimacy of the European Union, and the transparency and accountability of the European executive. The update of the 2018 study examines the European Parliament's powers of scrutiny of the European Commission in the last two legislative terms. The cases examined pertain mainly to electoral and institutional issues, motions of censure, parliamentary questions, ...

This abbreviation list and tri-lingual glossary (English, German and French, see disclaimer) lists and explains relevant terms frequently used in the area of documents related to the Banking Union, more specifically in relation to the Single Supervisory Mechanism (SSM), the Single Resolution Mechanism (SRM) and the application of the Capital Requirements Directive (CRD IV) and the Capital Requirements Regulation (CRR). The glossary and list of abbreviations may be updated and extended in order to ...

The European System of Financial Supervision (ESFS) is a multi-layered system of micro- and macro-prudential authorities, which includes the European Systemic Risk Board, the three European Supervisory Authorities and the national supervisors. The ESFS aims at ensuring consistent and coherent financial supervision in the EU. This supervisory system is undergoing changes further to the introduction of the Banking Union and the withdrawal of the United Kingdom from the EU.