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.

All labels observed (3)

How this entity was disambiguated

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
Council Regulation (EU) No 1024/2013
surface form: Regulation (EU) No 1022/2013
monitoredBy European Court of Auditors
surface form: 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 System of Financial Supervision
surface form: European Banking Union
relatedTo European Deposit Insurance Scheme (proposed)
Single Resolution Board
surface form: 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

How these facts were elicited

Referenced by (19)

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

Banca d’Italia participatesIn Single Supervisory Mechanism
De Nederlandsche Bank memberOf Single Supervisory Mechanism
European Union economic and monetary union hasComponent Single Supervisory Mechanism
European Banking Authority cooperatesWith Single Supervisory Mechanism
European System of Financial Supervision cooperatesWith Single Supervisory Mechanism
Bank of Spain coordinatesWith Single Supervisory Mechanism
DNB participatesIn Single Supervisory Mechanism
SSM fullName Single Supervisory Mechanism
Council Regulation (EU) No 1024/2013 shortName Single Supervisory Mechanism
this entity surface form: Single Supervisory Mechanism Regulation
Council Regulation (EU) No 1024/2013 legalBasisFor Single Supervisory Mechanism
Council Regulation (EU) No 1024/2013 establishes Single Supervisory Mechanism
Supervisory Board of the European Central Bank partOf Single Supervisory Mechanism
Supervisory Board of the European Central Bank operatesWithinFramework Single Supervisory Mechanism
this entity surface form: Single Supervisory Mechanism Regulation
European Deposit Insurance Scheme (proposed) complements Single Supervisory Mechanism
subject surface form: European Deposit Insurance Scheme
Joint Supervisory Teams partOf Single Supervisory Mechanism
Joint Supervisory Teams basedOnLegalFramework Single Supervisory Mechanism
this entity surface form: Single Supervisory Mechanism Regulation
Joint Supervisory Teams reportsTo Single Supervisory Mechanism
this entity surface form: ECB Banking Supervision line management
Deputy Governors of the Bank of Italy cooperatesWith Single Supervisory Mechanism
EBA cooperatesWith Single Supervisory Mechanism
subject surface form: European Banking Authority