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ARTICLE · 14 MARCH 2014

Power-Sharing Between ECB And National Supervisors – Grey Areas Remain

De Brauw Blackstone Westbroek
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The European Central Bank will start supervising "significant banks" in late 2014.

NetherlandsFinance and Banking
Francine Schlingmann
Francine Schlingmann
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The European Central Bank will start supervising "significant banks" in late 2014. These significant banks will also continue to be supervised by their national supervisor. The Single Supervisory Mechanism (SSM) Framework Regulation, which has just passed the consultation phase, aims to clarify how powers are divided and cooperation is organised between the ECB and national supervisors. It is uncertain whether this aim has been achieved.

The European Central Bank (ECB) will start supervising "significant banks" from 4 November 2014. Factors determining whether a bank is significant include the size of the bank, its importance for the EU economy or a participating member state – i.e. which is in the euro zone or takes part in the SSM – and the significance of its cross-border activities. All these factors are calculated on a consolidated basis. A bank is in principle significant if it is established in a participating member state and meets one of these conditions:

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