ECB Wants Beefed-Up SRM

On 12 February 2014, the European Central Bank (ECB) published a speech by Mario Draghi, ECB President, on financial integration and EU banking union.

Mr Draghi conceded that there were improvements that could be made to elements of the Council’s proposal on the Single Resolution Mechanism Continue reading

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ECB Consults on Draft SSM Framework Regulation

On 7 February 2014, the European Central Bank (ECB) published a consultation paper on a draft of the ECB Single Supervisory Mechanism (SSM) Framework Regulation.

Pursuant to the SSM, from 4 November 2014, the ECB will assume responsibility for the supervision of significant supervised entities (SSEs) Continue reading

ECB Identifies Banks Subject to SSM

On 6 February 2014, the European Central Bank (ECB) published a decision identifying those banks that are subject to comprehensive assessment under the Single Supervisory Mechanism (SSM) in accordance with Article 33(4) of Regulation 1024/2013. Continue reading

SSM MoU with ECB Approved and Inter-institutional Agreement Published in Official Journal

On 2 December 2013, the Council of the European Union published a press release announcing that it has approved the Memorandum of Understanding (MoU) (15963/13) between the Council and the European Central Bank (ECB) relating to the single supervisory mechanism (SSM).  A few days earlier on 30 November 2013, the Inter-institutional Agreement (IIA) between the ECB and the European Parliament on the implementation of procedures related to the SSM was published in the Official Journal of the EU (OJ).

 

ECB President on SSM

Another speech on the Single Supervisory Mechanism (SSM) from the European Central Bank (ECB) this time by ECB President, Mario Draghi, titled “The future of Europe” was presented in Frankfurt on 22 November 2013. Continue reading

ECB speech on SSM and entrance into MoU with EU Council

On 20 November 2013, the European Central Bank (ECB) published a speech given by the ECB executive board member, Yves Mersch, on the ECB’s perspective on the future of the European banking union.  Continue reading