Public funding of failing banks in the European Union (LBF vol. 19) 2020/6.6.2.5:6.6.2.5 Distinction between DG COMP and DG FISMA

Public funding of failing banks in the European Union (LBF vol. 19) 2020/6.6.2.5

6.6.2.5 Distinction between DG COMP and DG FISMA

Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.

This dissertation consistently refers to the Commission, without making a distinction between the different Directorates General within the Commission. The Commission is however divided into departments that develop policies for specific areas (the Directorates General or DGs). Each DG is headed by a Commissioner and has its own strategic and management plan. The DG Competition (DG COMP) is responsible for EU policy on competition and for enforcing EU competition rules, including the State aid rules. The DG Financial Stability, Financial Services and Capital Markets Union (DG FISMA) is responsible for the EU policy on banking and finance. As such, both departments are involved in the resolution of failing banks.

DG FISMA prepares the Commission decisions on the resolution of banks under the SRM, in which it endorses (or not) the decision by the SRB.1 DG COMP prepares the decisions on State aid awards.

Both departments can have different priorities, as a result of which the involvement of the Commission as co-resolution authority is not necessarily completely aligned with the involvement of the Commission as State aid authority. However, any service preparing a Commission decision or proposal must take account of the fact that the Commission as a whole will bear responsibility for the measure in question and must act accordingly, i.e. in conjunction with other services as appropriate.2

Deze functie is alleen te gebruiken als je bent ingelogd.