Friday November 14 2014
News Source: Global Exchanges
Focus: Stock Exchange Regulation
Type: General
Country: European Union
Link: https://www.bankingsupervision.europa.eu/home/html/index.en.html
On 4th November 2014, the ECB fully assumed supervisory tasks and responsibilities in the framework of the Single Supervisory Mechanism (SSM). The SSM is a new system of banking supervision for Europe, comprising the ECB and the national supervisory authorities of the participating countries.
Its main aims are to:
- Ensure the safety and soundness of the European banking system;
- increase financial integration and stability;
- ensure consistent supervision.
The SSM is one of the two pillars of the EU banking union, along with the Single Resolution Mechanism.
Click link above for further details.