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Nov 16, 2014

Banking Supervision Within the Eurozone: The Single Supervisory Mechanism

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On 4 November 2014, the European Central Bank became the prudential regulator for all Eurozone banks under the Single Supervisory Mechanism. The SSM does not introduce another layer of substantive regulation but significantly changes the way in which prudential supervision is applied in practice within the Eurozone. The intent is to provide for more consistent and harmonized supervisory practices and standards within the Eurozone, which is an inherently difficult goal to achieve given local country complexities and the continuing need to rely on on-the-ground national regulators. The ECB will nonetheless have a powerful role in the supervisory landscape and will doubtless try to shape and steer supervisory culture going forward.

View full memo, Banking Supervision Within the Eurozone: The Single Supervisory Mechanism

Authors and Contributors

Barnabas Reynolds

Partner

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5528

+44 20 7655 5528

London

Thomas Donegan

Partner

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5566

+44 20 7655 5566

London

Hervé Letréguilly

Partner

Capital Markets

+33 1 53 89 71 30

+33 1 53 89 71 30

Paris

Tobia Croff

Partner

Capital Markets

+39 02 0064 1509

+39 02 0064 1509

Milan

Kolja Stehl

Counsel

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5864

+44 20 7655 5864

London