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So far, all EU nations that aren't part of the euro club prefer to stay outside the direct jurisdiction of the ECB, though its reach stretches beyond the common currency union thanks in part to the pursuit of a single rule book for financial institutions under the auspices of the European Banking Authority.

Resolution Fund

Denmark has taken a wait-and-see approach to joining the banking union. Its banks don't want to contribute to a common resolution fund they fear would be used to shore up troubled lenders in southern Europe.

The ECB also wants to eliminate the more than 150 exceptions to uniform capital requirements that countries have adopted, a move toward standardization that, according to Berg, won't necessarily benefit countries outside the euro zone.

"Within the euro area, from the center, there is an attempt, which is understandable, to take out national discretions and to harmonize, because it's difficult to supervise across different national standards," Berg said. "To the extent that that policy also influences the EU rule-setters, that will present some challenges for us."



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