The Banking Union in EU law: an EU institutional law perspective

The European Banking Union (EBU) is the most innovative development of European administrative law since the Single European Act of 1986. It reshapes all the main parts of administrative law: general principles, organisation, procedure and guarantees. Yet, the incompleteness of the EBU (the “third pillar” is missing) makes the model incoherent. Other features must be solved soon, as the particular complexity of the regulation and the scope of judicial review. The first implementing experience of the EBU law shows some tensions among the ECB, the new SSM and SRB boards and the EU institutions; and also between the new European regulation and national rules, demonstrated by the first resolution cases. Despite the inevitable problems of a system established in a very short time with special characters, the EBU marks boldly the integration process. Its accountability must be considred in an original way, the “output legimitation”, distinct from the abused point of view of “democratic” legimitation.