Thesis title: The constitution of a territory of government for finance. A survey on expertise in banking supervision within the European Banking Union
Supervisor: Fabian Muniesa
The thesis focuses on the construction of an expertise of the European supervision of banking risks. In response to the 2008 financial crisis, and as part of the implementation of the Banking Union set up in 2014, the European Union’s Heads of States and Governments entrusted the European Banking Union with the task of supervising the banks in the euro area. The Banking Union is portrayed as an institutional arrangement, namely an assemblage of actors, auditing practices and control devices, in which a new form of intervention is invented. The purpose of this arrangement is to produce a centralized European expertise on a developing territory of government. In this territory, the problematisation of good banking conduct aims at ensuring a sustainable future for investors’ assets without acting on the financial flows in a constraining way. The supervisory authorities of the states involved in the arrangement are now in charge of applying the decisions made collectively in Frankfurt about banks considered as national. Through this inquiry, the thesis contributes to the contemporary debates on finance and on the European construction by making the effects of public policies geared towards the issue of investment management in Europe visible. In particular, it increases the understanding of the reshaping of national sovereignties in banking policies, which, far from disappearing, play a decisive role in the constitution of the territory studied. The analysis is based on a qualitative survey, including an ethnographic study of the Autorité de contrôle prudentiel et de résolution (ACPR), the French administration in charge of supervising the banks under its jurisdiction, henceforth in cooperation with the European Central Bank.