The Single Supervisory Mechanism (SSM)

Christos V. Gortsos ()
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Christos V. Gortsos: National and Kapodistrian University of Athens

Chapter Chapter 8 in The European Banking Regulation Handbook, Volume I, 2023, pp 437-498 from Springer

Abstract: 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.

Keywords: Single Supervisory Mechanism (SSM); European Central Bank (ECB); National competent authorities (NCAs); ECB powers; Administrative penalties; Independence; Accountability and liability; Mediation Panel; Administrative Board of Review (ABoR); Judicial review (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-32859-6_8

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DOI: 10.1007/978-3-031-32859-6_8

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