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Legal accountability of European Central Bank in bank supervision: a case study in conceptualising the legal effects of Union acts

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This contribution offers a conceptual framework, which allows a clear and transparent assessment of the legal/judicial accountability of acts adopted within the Single Supervisory Mechanism (SSM) based on an evaluation of their legal effects. It shows, that the Union courts are the relevant judicial forum to hold the European Central Bank (ECB) to account for acts, which have primary legal effects, that is all acts or omissions which, directly or indirectly, are capable of determining rights or imposing obligations. Such acts can be challenged by way of direct actions under Articles 263 and 265 TFEU. Where the change in the legal position of a person is caused by at least two distinct acts, the former providing the basis for the adoption of the latter binding act without having itself primary legal effect, then the Union courts may review the former act only indirectly, such as via Articles 267 and 277 TFEU. The judicial accountability mechanisms within the SSM mirror the allocation of competences between the national authorities and the ECB within the SSM by providing for a separate but integrated system of judicial review.
Original languageEnglish
Pages (from-to)151-164
Number of pages14
JournalMaastricht Journal of European and Comparative Law
Volume26
Issue number1
Early online date8 May 2019
DOIs
Publication statusEarly online - 8 May 2019
EventCERiM Workshop on 'The ECB's accountability in a multilevel European orde - Maastricht University, Brussels, Belgium
Duration: 29 Sep 201829 Sep 2018

Documents

  • Xanthoulis_Turk final

    Rights statement: Alexander H. Türk & Napoleon Xanthoulis. 'Legal accountability of European Central Bank in bank supervision: A case study in conceptualizing the legal effects of Union acts'. Maastricht Journal of European and Comparative Law. Copyright © 2019 (The Authors). DOI: 10.1177/1023263X19830639.

    Accepted author manuscript (Post-print), 249 KB, PDF document

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