Bruegel yesterday published this report, which I co-edited with Dirk Schoenmaker, in its Blueprint series. To our knowledge, it is the first in-depth study of how European Banking Supervision (also known as the Single Supervisory Mechanism, in place at the European Central Bank since early November 2014) works in practice. It includes a euro-area overview and overall assessment, and nine country-specific chapters by local experts that bring anecdotal color and a sense of the lingering diversity of experiences and perceptions across member states.
Dirk and I summarized key findings of the report in a Bruegel blog post which was also republished by Vox.
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