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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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Legal accountability of European Central Bank in bank supervision: a case study in conceptualising the legal effects of Union acts. / Xanthoulis, Napoleon; Turk, Alexander.

In: Maastricht Journal of European and Comparative Law, Vol. 26, No. 1, 08.05.2019, p. 151-164.

Research output: Contribution to journalArticlepeer-review

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Xanthoulis, Napoleon ; Turk, Alexander. / Legal accountability of European Central Bank in bank supervision: a case study in conceptualising the legal effects of Union acts. In: Maastricht Journal of European and Comparative Law. 2019 ; Vol. 26, No. 1. pp. 151-164.

Bibtex

@article{1b7711e31c8446d3a9c6c16153e129a6,
title = "Legal accountability of European Central Bank in bank supervision: a case study in conceptualising the legal effects of Union acts",
abstract = "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.",
keywords = "European Central Bank, Accountability, Judicial review, Single Supervisory Mechanism, Legal effects, European Banking Union",
author = "Napoleon Xanthoulis and Alexander Turk",
year = "2019",
month = may,
day = "8",
doi = "10.1177/1023263X19830639",
language = "English",
volume = "26",
pages = "151--164",
journal = "Maastricht Journal of European and Comparative Law",
issn = "2399-5548",
publisher = "SAGE Publications Ltd",
number = "1",
note = "CERiM Workshop on 'The ECB's accountability in a multilevel European orde ; Conference date: 29-09-2018 Through 29-09-2018",

}

RIS

TY - JOUR

T1 - Legal accountability of European Central Bank in bank supervision: a case study in conceptualising the legal effects of Union acts

AU - Xanthoulis, Napoleon

AU - Turk, Alexander

PY - 2019/5/8

Y1 - 2019/5/8

N2 - 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.

AB - 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.

KW - European Central Bank

KW - Accountability

KW - Judicial review

KW - Single Supervisory Mechanism

KW - Legal effects

KW - European Banking Union

U2 - 10.1177/1023263X19830639

DO - 10.1177/1023263X19830639

M3 - Article

VL - 26

SP - 151

EP - 164

JO - Maastricht Journal of European and Comparative Law

JF - Maastricht Journal of European and Comparative Law

SN - 2399-5548

IS - 1

T2 - CERiM Workshop on 'The ECB's accountability in a multilevel European orde

Y2 - 29 September 2018 through 29 September 2018

ER -

ID: 13354209