Role and Powers of the European Central Bank and of the European Banking Authority in the Perspective of the Forthcoming Single Supervisory Mechanism

Abstract

The recent inter-institutional agreement on the content of the two regulations aimed to establish a European single supervisory mechanism supervision on credit institutions and to amend the current legislative framework of the EBA gives substance to the prospect of having soon a more centralized system of prudential regulation and supervision in respect of banks and other financial institutions. The present work focuses in particular on the role and the powers of the two authorities at the heart of this architecture, the ECB and the EBA.

Keywords: Single supervisory mechanism, European Central Bank, European Banking Authority, SSM, ECB, EBA