Definitions for banking union
bank·ing union

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1. Banking union

   The Banking Union in the European Union is the transfer of responsibility for banking policy from the national to the EU level in several countries of the European Union, initiated in 2012 as a response to the Eurozone crisis. The motivation for banking union was the fragility of numerous banks in the Eurozone, and the identification of vicious circle between credit conditions for these banks and the sovereign credit of their respective home countries ("bank-sovereign vicious circle"). In several countries, private debts arising from a property bubble were transferred to sovereign debt as a result of banking system bailouts and government responses to slowing economies post-bubble. Conversely, weakness in sovereign credit resulted in deterioration of the balance sheet position of the banking sector, not least because of high domestic sovereign exposures of the banks. As of mid-2020, the Banking Union mainly consists of two main initiatives, the Single Supervisory Mechanism and Single Resolution Mechanism, which are based upon the EU's "single rulebook" or common financial regulatory framework. The SSM took up its authority on 4 November 2014, and the SRM entered into full force on 1 January 2015. Most accounts of banking union view it as incomplete in the absence of a European deposit insurance. The European Commission made a legislative proposal for a European Deposit Insurance Scheme in November 2015, but it has not been adopted by the EU co-legislators. Also as of mid-2020, the geographical scope of the Banking Union is identical to that of the euro area. In future, other non-euro member states of the EU may join the Banking Union under a procedure known as close cooperation. Bulgaria and Croatia have initiated requests for close cooperation, respectively in July 2018 and May 2019 and the European Central Bank will start supervising significant Bulgarian and Croatian banks on October 1, 2020.

How to pronounce banking union?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say banking union in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of banking union in Chaldean Numerology is: 7

2. Pythagorean Numerology

   The numerical value of banking union in Pythagorean Numerology is: 5

Examples of banking union in a Sentence

1. European Union finance ministers:

   The aggregate amount and the repartition key will be reviewed by the end of 2017 or earlier, if a non-euro area member state joins the banking union.

2. Guntram Wolff:

   Everything depends on the details that are not yet known, but without finishing the banking union, the euro area will remain fragile.

3. European Union finance ministers:

   Member states participating in the banking union agree to put in place a system of bridge financing arrangements in order to ensure sufficient funding to the SRF during the transitional period, as of 2016, each participating member state will enter into a harmonized loan facility agreement with the Single Resolution Board (SRB), providing a national individual credit line to the SRB to back its national compartment in the SRF in case of possible funding shortfalls following resolution cases of banks of the Member State concerned.

4. Guntram Wolff:

   But without finishing the banking union, the euro area will remain fragile.

5. Jeroen Dijsselbloem:

   The way we have built the banking union so far is to deal with risks in our banking system and at the same time talking about sharing risks. That approach has to be taken further.

References

1. ^ Wikipedia
   https://en.wikipedia.org/wiki/Banking_Union