THE EUROPEAN CONSOLIDATION BANKING DIRECTIVE (2000/12/EC) AND BEYOND

The imperative of market integration has provided a strong impetus towards the convergence  of the laws of the Member States on comparable, if not identical, regulatory standards for banks and other financial institutions. The consolidation Directive relates to the basic Directives which establish a single market for banking services, including the rules on single authorization and financial control of the financial institution by the Member State in which its registered office is located (Home Member State). This monograph begins by examining ad hoc the Consolidation Banking Directive and analyzing the definition of credit institution. Also, three crucial aspects of the Directive are considered; the interpretation and practical implementation of the “freedom to provide services”, the “concept of general good” and the “fitness and properness criterion”. Moreover, some of the most important issues of the European Banking System are examined. Finally, this monograph postulates some questions about the concept of a single regulator and attempts to provide some answers concerning the future of regulation and supervision in Europe.