1. See Kisgergely, K. and Szombati, A. (2014) Banking Union through Hungarian Eyes – The MNB’s Assessment of a Possible Close Cooperation., MNB Occasional Paper 115. Budapest: Magyar Nemzeti Bank, p. 21; OOG (2014). The Impact Assessment of Participation and Non-Participation of the Czech Republic in the Banking Union [in Czech]. Prague: Office of the Government of the Czech Republic.
2. The Capital Requirements Directive and Regulation provide national authorities with 70 different options, discretions and transitional provisions allowing for differentiation of SREP and other aspects of national supervisory regimes. However, the European Banking Authority monitors their use and strives for convergence by reducing discrepancies. See EBA (2014) EBA provides overview on the implementation and transposition of the CRD IV package, www.eba.europa.eu/-/eba-provides-overview-on-the-implementation-and-transposition-of-the-crd-iv-package , accessed 11 June 2015.
3. That such arguments are being used is evidenced by a minor diplomatic spat between the Czech President and the largest Austrian bank. The Czech president claimed in April 2014 that ‘Andreas Treichl [CEO of the Austrian Erste Group] informed me on his recent visit that Die Erste is considering moving its headquarters from Vienna to Prague in the next few years’ (see https://www.hrad.cz/cs/prezident-cr/soucasny-prezident-cr-milos-zeman/vybrane-projevy-a-rozhovory/545.shtml [in Czech]). The Erste Group immediately denied the statement as a misunderstanding (see http://byznys.ihned.cz/c1-61996560-zeman-erste-uvazuje-o-presunu-z-vidne-do-prahy-mluvci-skupiny-je-to-asi-vtip [in Czech]).
4. Since the transposition of the OECD Model Convention into EU law, the difference between the taxation of branches and subsidiaries is minimal. See Faykiss, P., Grosz, G., and Szigel, G. (2014). Transforming subsidiaries into branches − Should we be worrying about it? MNB Occasional Papers 106, pp. 1–30. Budapest: Magyar Nemzeti Bank.
5. See Kudrna, Z. (2012) Cross-border resolution of failed banks in the EU after the crisis: Business as usual. JCMS: Journal of Common Market Studies 2 (50): 283–299.