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The Single Supervisory Mechanism (SSM)

In: The European Banking Regulation Handbook, Volume I

Author

Listed:
  • Christos V. Gortsos

    (National and Kapodistrian University of Athens)

Abstract

This chapter examines the key institutional aspects of the Single Supervisory Mechanism (SSM), i.e., the first key pillar of the Banking Union (BU). It first deals with the European Central Bank (ECB) as a supervisory authority within the SSM, developing on the specific supervisory tasks conferred on it and on its new governance structure upon creation of the SSM. The division of tasks within the SSM among the ECB and national competent authorities (NCAs)—including the regulatory perimeter, cooperation arrangements, the regulatory, investigatory and supervisory powers of the ECB and the NCAs, and their powers to impose administrative penalties are also examined in some detail. The following sections develop then on the ECB’s independence and accountability (the latter vis-à-vis EU institutions and national parliaments), on the Administrative Board of Review (ABoR) and the Mediation Panel and on the institutional safeguards and the liability of the ECB and NCAs.

Suggested Citation

  • Christos V. Gortsos, 2023. "The Single Supervisory Mechanism (SSM)," Springer Books, in: The European Banking Regulation Handbook, Volume I, chapter 0, pages 437-498, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-32859-6_8
    DOI: 10.1007/978-3-031-32859-6_8
    as

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