Oeconomica Jadertina, Vol. 12 No. 2, 2022.
Pregledni rad
https://doi.org/10.15291/oec.3809
The role of Joint Supervisory Teams in Single Supervisory Mechanism Approach
Marta Božina Beroš
; Fakultet ekonomije i turizma „Dr. Mijo Mirković“
Sažetak
One of the Banking Union’s goals is undoubtedly to facilitate the development of a common supervisory approach, or in other words, to achieve the maximum harmonization of supervisory practices, standards, and methodologies throughout Member States participating in this integration framework. While common rules and regulations help to ensure regulatory and procedural consistency, a common supervisory approach largely depends on the genuine cooperation between various governance levels, or between national and supranational factors involved in supervision under the auspices of the Single Supervisory Mechanism (SSM). This cooperation takes place within Joint Supervisory Teams (JSTs), as main operative units of the Banking Union.
Based on an interdisciplinary theoretical framework of political economy, with focus on the principal-agent problem and the theory of the decision-making (de)centralization in the Economic and Monetary Union, as well as through a critical analysis of relevant literature and secondary sources, this paper provides one of the first comprehensive examinations of the JSTs and their contribution to the common supervisory approach in the domestic literature. Emphasizing the importance of national actors within JSTs, the paper concludes that the SSM is rather based on a participative than centralized governance, which is a novel outlook on the SSM considering the existing literature. In fact, the paper concludes that the multilevel supervision, JSTs function as the executive arm of a holistic, comprehensive process of checking banks’ soundness and in-depth micro-prudential supervision within the complex of SSM are crucial to the creation and consolidation of the BU’s common supervisory approach.
Ključne riječi
Banking Union; Single Supervisory Mechanism; Joint Supervisory Teams; SREP
Hrčak ID:
286337
URI
Datum izdavanja:
1.12.2022.
Posjeta: 440 *