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The Single Supervisory Mechanism

In: The European Banking Union

Author

Listed:
  • Angelo Baglioni

    (Università Cattolica Sacro Cuore)

Abstract

This chapter describes the new architecture of banking supervision, going into the organizational details of the Single Supervisory Mechanism (SSM). The new governing bodies of the ECB and its decision-making process are introduced. The distinction between significant and less significant banks plays a key role in the organization of the SSM. As far as significant banks are concerned, the Joint Supervisory Teams (JSTs) are at the core of the supervisory activity. Some controversial issues are discussed, like the separation between prudential supervision and monetary policy, the balance of powers between the ECB and the national authorities, the discretionary approach based on the SREP, and the lack of a single authority responsible for the macro-prudential supervision.

Suggested Citation

  • Angelo Baglioni, 2016. "The Single Supervisory Mechanism," Palgrave Macmillan Studies in Banking and Financial Institutions, in: The European Banking Union, chapter 0, pages 31-60, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-1-137-56314-9_3
    DOI: 10.1057/978-1-137-56314-9_3
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