Unabhängige Bankenaufsicht

Zusatztext

With the introduction of the "Single Supervisory Mechanism" (SSM) as part of the European Banking Union, key tasks of banking supervision were transferred, by way of Union law, to an independent exercise within an administrative network composed of the European Central Bank and national supervisory authorities. From the perspective of German constitutional law, the independent performance of administrative functions is often regarded with considerable skepticism and - as in the case of central banking - considered permissible only in narrowly defined exceptional circumstances. In light of the requirements of democratic legitimacy and mutual checks and balances, such independence is seen as particularly in need of justification. Against this background, Christopher Finck examines the primary law and constitutional parameters governing the independent exercise of banking supervisory tasks, taking into account the constellation reflected in the SSM, in which these tasks are carried out jointly with central bank functions by a single institution. Drawing on extrajuridical insights, particularly from economics, he first analyzes the reasons for and effects of granting independence. He then assesses whether, and in what form, supervisory independence within the SSM can be reconciled with the requirements of EU primary law and national constitutional law. He identifies possible organizational structures that satisfy these legal requirements while enabling the effective performance of supervisory functions.

Autorenportrait

Born in 1985; studied law at Johannes Gutenberg University Mainz and the Université de Nantes; 2008 Maîtrise in Public Law; 2009 Magister of German and Foreign Law; 2011 First State Examination in Law; legal traineeship in the district of the Higher Regional Court of Koblenz; 2013 Second State Examination; 2011-2016 research associate at the Chair of Public Law, Comparative Law, and European Law at the University of Mainz; senior civil service of the Federal Government in Berlin; budget attaché at the Permanent Representation of the Federal Republic of Germany to the European Union in Brussels.

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