Council Regulation (EU) No 1024/2013

E386345

Council Regulation (EU) No 1024/2013 is the EU law that established and governs the Single Supervisory Mechanism, granting the European Central Bank key powers to oversee significant banks in the euro area.

All labels observed (3)

How this entity was disambiguated

Statements (49)

Predicate Object
instanceOf EU banking union legislation
European Union regulation
adoptedBy Council of the European Union
aimsTo ensure the safety and soundness of credit institutions
establish a Single Supervisory Mechanism for banks in the euro area
increase financial stability in the European Union
allocatesTasksTo European Central Bank
national competent authorities of participating Member States
allowsParticipationOf non-euro area Member States through close cooperation
appliesTo euro area Member States
basedOnTreatyArticle Article 127(6) of the Treaty on the Functioning of the European Union
Article 132(1) of the Treaty on the Functioning of the European Union
Article 5(4) of the Treaty on European Union
complements Directive 2013/36/EU
EU Capital Requirements Directive
surface form: Regulation (EU) No 575/2013
confersPowersOn European Central Bank
dateAdopted 2013-10-15
dateOfSignature 2013-10-15
definesConcept less significant credit institution
significant credit institution
enteredIntoForceOn 2013-11-03
establishes Single Supervisory Mechanism
establishesCriterion cross-border activity criteria for significant institutions
importance for the economy of the Union or of a participating Member State
size-based criteria for significant institutions
grantsPower to assess acquisitions and disposals of qualifying holdings in credit institutions
to conduct supervisory reviews and stress tests
to ensure compliance with prudential requirements for credit institutions
to grant and withdraw authorisations of credit institutions in participating Member States
to impose supervisory measures and sanctions on credit institutions
jurisdiction European Union
languageVersion all official languages of the European Union
legalArea banking supervision
financial regulation
legalBasisFor Single Supervisory Mechanism
officialName Council Regulation (EU) No 1024/2013 self-linksurface differs
surface form: Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions
OJIssuesNumber 287
OJPublicationDate 2013-10-29
OJSeries L
partOf European Banking Union
surface form: EU banking union framework
providesFor a supervisory board within the ECB
cooperation between the ECB and national competent authorities
publishedIn Official Journal of the European Union
requires accountability of the ECB to the European Parliament and Council for supervisory tasks
separation between monetary policy and supervisory functions within the ECB
shortName SSM
surface form: SSM Regulation

Single Supervisory Mechanism
surface form: Single Supervisory Mechanism Regulation
subjectMatter banking supervision in the euro area
prudential supervision of credit institutions

How these facts were elicited

Referenced by (6)

Full triples — surface form annotated when it differs from this entity's canonical label.

Single Supervisory Mechanism legalBasis Council Regulation (EU) No 1024/2013
Single Supervisory Mechanism legalBasis Council Regulation (EU) No 1024/2013
this entity surface form: Regulation (EU) No 1022/2013
SSM legalBasis Council Regulation (EU) No 1024/2013
subject surface form: Single Supervisory Mechanism
Council Regulation (EU) No 1024/2013 officialName Council Regulation (EU) No 1024/2013 self-linksurface differs
this entity surface form: Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions
Supervisory Board of the European Central Bank basedOn Council Regulation (EU) No 1024/2013
Joint Supervisory Teams basedOnLegalFramework Council Regulation (EU) No 1024/2013