The Super-Regulator in Europe

The European Central Bank (ECB) is preparing to take on new banking supervision tasks as part of a single supervisory mechanism (SSM). In a joint work with national regulators the ECB seek to ensure the safety and soundness of the European banking system and to increase financial integration and stability in Europe. It is expected that the ECB will assume its new banking supervision responsibilities in autumn 2014.

Last 7th february the ECB launched a public consultation on draft ECB SSM Framework Regulation. Available here

The Report on the proposal for a Council regulation conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (COM(2012)0511 – C7-0314/2012 – 2012/0242(CNS)) can be consulted here.

Some recent news about the first expected measures to be taken by the new regulator: FT