The Banking Union and its Implications for Private Law: A Comment
24 Pages Posted: 30 Oct 2015
Date Written: October 2015
This comment seeks to provide a conceptual framework for analysing the Banking Union’s implications for private law. After discussing how and in what form the Banking Union can engender potentially relevant regulatory norms, it identifies the general ways whereby these can be recognised in private law and translated into private rights and/or duties. It then responds to a common argument against translation, namely, that the public nature of the regulatory regime’s goals and concerns hinders its normative expansion in the realm of private law. On a more practical level, it provides a tentative catalogue of private legal relations likely to be affected by the Banking Union.
Keywords: Banking Union, SSM, SRM, EBA, Banking regulation, Single rulebook, Private remedies, Regulatory duties, Civil liability
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