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The Banking Union is based on different components, partly on directives applicable throughout the EU, partly on two regulations applicable only in the euro states introducing the Single Supervisory Mechanism and the Single Resolution Mechanism. These regulations are based on a comparable pattern, with centralisation of decisions at the European level, and involvement of authorities in the member states. However, also for legal reasons, the centralisation is much stronger for prudential supervision that for resolution. Issues of cooperation between the two Mechanisms, and between the European level and the national level reveal some interesting analogies but also differences. Coordination and cooperation will be necessary to avoid conflicts.

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