Tuesday 4 November 2014

Europe: Single Supervisory Mechanism comes into force today

The Single Supervisory Mechanism, part of the Banking Union, came into force today. The European Central Bank is now responsible for supervision of banks within the Eurozone, working with authorities in the participating countries, although it will only directly supervise the largest institutions. Further information is available on the new supervision website created by the ECB: see here. A guide to banking supervision is available here (pdf).

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