The ECB’s role in the European Banking Union

This chapter analyses the institutional and legal framework governing the ECB’s responsibility in monetary policy, banking supervision and resolution. The discussion raises issues concerning the primacy of monetary policy and the price stability mandate of article 127 (1) TFEU and how this can be reconciled with the ECB’s support for the Union’s general economic policies (so-called secondary objectives) and for the discharge of its other responsibilities, including banking supervision, within the Banking Union.