Single Supervisory Mechanism
E82771
The Single Supervisory Mechanism is the European banking supervision framework under the European Central Bank that directly oversees significant banks in participating EU countries to ensure the safety and stability of the banking system.
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
banking supervision framework
→
pillar of the European Banking Union → |
| administeredBy |
European Central Bank
→
|
| aimsTo |
break the bank-sovereign nexus
→
harmonise banking supervision in the euro area → |
| appliesTo |
euro area member states
→
non-euro EU member states that choose to participate → |
| cameIntoForce |
2014-11-04
→
|
| canImpose |
administrative sanctions on supervised entities
→
prudential requirements on banks → |
| canPerform |
on-site inspections
→
stress tests → supervisory reviews → |
| cooperatesWith |
national competent authorities of participating member states
→
|
| coversSector |
banking sector
→
|
| establishedBy |
European Union
→
|
| geographicalArea |
participating EU member states
→
|
| governedByBody |
Supervisory Board of the European Central Bank
→
|
| headquarteredIn |
Frankfurt am Main
→
|
| implementedBy |
European Central Bank
→
national competent authorities → |
| introducedFollowing |
European sovereign debt crisis
→
|
| keyComponent |
direct ECB supervision of significant banks
→
indirect ECB oversight of national competent authorities → |
| languageOfOperation |
English
→
|
| legalBasis |
Council Regulation (EU) No 1024/2013
→
Regulation (EU) No 1022/2013 → |
| monitoredBy |
European Court of Auditors (in certain aspects)
→
|
| objective |
ensure consistent supervision of banks in participating states
→
ensure safety and soundness of the European banking system → increase financial stability in the EU → |
| overseesIndirectly |
less significant credit institutions
→
|
| partOf |
European Banking Union
→
|
| relatedTo |
European Deposit Insurance Scheme (proposed)
→
Single Resolution Mechanism → |
| reportsTo |
Governing Council of the European Central Bank
→
|
| scopeIncludes |
assessment of bank capital adequacy
→
assessment of bank liquidity → assessment of bank risk management → prudential supervision of banks → |
| shortName |
SSM
→
|
| supervises |
significant credit institutions
→
|
| supervisoryThresholdCriterion |
importance for the economy of the EU or a member state
→
significant cross-border activities → size of bank assets → |
| usesInstrument |
ECB supervisory decisions
→
Joint Supervisory Teams → |
| usesSupervisoryModel |
single system of financial supervision
→
|
| website |
https://www.bankingsupervision.europa.eu
→
|
Referenced by (4)
| Subject (surface form when different) | Predicate |
|---|---|
|
European Banking Authority
→
|
cooperatesWith |
|
European Union economic and monetary union
→
|
hasComponent |
|
De Nederlandsche Bank
→
|
memberOf |
|
Banca d’Italia
→
|
participatesIn |