2 Communication from the Commission to the European Parliament and the Council – A Roadmap towards a  Banking Union, COM/2012/0510 final.
3 Nouy, D. (2017), “Banking union, three years on – has it lived up to its promises?”, statement at the Single  Resolution Board Conference, Brussels: “Banks are supervised and resolved at European level, but in the event of a failure, the negative consequences are felt mainly at national level.