ABSTRACT

In debates on the need to “complete” the banking union, there has been little attention to the omission of shadow banks from the supervision mandate given to the European Central Bank with the establishment of the Single Supervisory Mechanism (SSM). We argue that there can be no completion of the banking union without dedicated pan-European supervision of all non-banking financial institutions. We identify four explanatory modalities for the omission of shadow banking from the SSM mandate and discuss organizational options for institutionalizing European supervision of its shadow banking sector.

中文翻译：

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欧洲央行半生不熟的监管任务 或者，如何再次认真对待影子银行

摘要

在关于“完成”银行业联盟的必要性的辩论中，很少有人注意到影子银行在单一监管机制（SSM）的建立后被赋予欧洲中央银行的监管职责中被忽略。我们认为，如果没有对所有非银行金融机构的专门泛欧监督，银行业联盟就不可能完成。我们确定了从 SSM 授权中省略影子银行的四种解释方式，并讨论了将欧洲对其影子银行部门的监管制度化的组织选择。