Where the law stands, Dossier 2024/2055(INI)
Banking Union – annual report 2024
Own-initiative report (INI): Parliament’s own position on a topic. It is not binding. · First reading
Parliament sets out its own position on a topic. The resolution is not binding but signals what Parliament wants.
Where it stands
Parliament’s position
Parliament adopted the text on 8 May 2025. This is its final position on the matter.
- Referred to committee(done) 10 October 2024
- Committee work(done) Report adopted 19 March 2025
- Tabled for plenary(done) 26 March 2025
- Plenary vote(done) Adopted 8 May 2025
- Parliament’s position(done) Final
Decided in plenary
8 May 2025 · decision 12
Economy & single market, Resolution
Banking Union – annual report 2024
Adopted 345 for · 135 against · 62 abstained by a large majority
AI summary:The report stresses the need to complete the Banking Union, notably by establishing a European deposit insurance scheme, and to boost the competitiveness and profitability of EU banks.
What changed
Latest Tabled for plenary → Adopted by Parliament
AI summary:Adds a paragraph on bank branch closures and the importance of smaller banks, calling for proportionality in supervision. Other changes are formal: decimal separators updated and paragraphs renumbered.
Committee draft → Tabled for plenary
AI summary:The report expands significantly, adding many new paragraphs on topics like digitalisation, cyber resilience, climate risks, and gender balance. It updates positions on the Banking Union's completion, emphasising the missing European deposit insurance scheme and the need to avoid taxpayer bailouts. It revises paragraphs on Basel III implementation, non-performing loans, and resolvability, adding calls for assessments and noting national roles. The other changes are formal: a punctuation correction in a year reference.
Who works on it
- Lead committee
- Economic and Monetary Affairs
- The MEP who drafts the report and negotiates it on behalf of the committee.
- Ralf Seekatz (EPP)
- An MEP who follows a report on behalf of their own group when another group holds the rapporteur.
- Jonás Fernández (S&D), Jorge Martín Frías (Patriots), Marlena Maląg (ECR), Engin Eroglu (Renew), Kira Marie Peter-Hansen (Greens), Pasquale Tridico (The Left)
The text, version by version
Newest first.
Adopted by Parliament· 8 May 2025
AI summary:Parliament's annual report on the Banking Union acknowledges progress but stresses that the Banking Union remains incomplete without a European deposit insurance scheme. It calls for completing the Banking Union and Capital Markets Union, enhancing competitiveness, and addressing risks such as cyber threats and bank desertification.
Tabled for plenary· 26 Mar 2025
AI summary:This resolution on the Banking Union annual report 2024 acknowledges progress made through the Single Supervisory Mechanism and Single Resolution Mechanism, but notes the Banking Union remains incomplete without a European deposit insurance scheme.
Committee draft· 7 Nov 2024
AI summary:This draft report on Banking Union – annual report 2024 asks the Commission to keep completing the Banking Union a priority, notes challenges to EU banks' competitiveness, and makes recommendations on supervision, resolution and deposit insurance.
Timeline
Newest first.
Plenary stage 4 steps
8 May 2025
Plenary vote
Sitting of 8 May 2025 Report A10-0044/2025Adopted text TA10-0105/2025
7 May 2025
Debated in plenary
MEPs debated the text in the chamber ahead of the vote.
29 April – 30 April 2025
15 amendments tabled for the plenary vote
Groups propose changes to the tabled text; each is voted on before the final vote.
26 March 2025
Report tabled for plenary
This is the text all MEPs vote on. Political groups can still table amendments to it.
Committee stage 4 steps
19 March 2025
Committee vote: report adopted
ECON (Economic and Monetary Affairs) voted on the amendments and adopted the report that goes to plenary.
16 December 2024
Amendments tabled in committee
Members of ECON (Economic and Monetary Affairs) proposed changes to the draft.
7 November 2024
Draft report published
The rapporteur’s first text in ECON (Economic and Monetary Affairs). Members can table amendments before the committee votes.
10 October 2024
Referred to the ECON (Economic and Monetary Affairs) committee
The lead committee prepares Parliament’s report.
Official record: Legislative Observatory, 2024/2055(INI)