On 7 February 2014, the ("ECB") published a consultation paper on a draft of the ECB SSM Framework Regulation and an accompanying Questions and Answers document.
The ECB will begin its role as supervisor of Euro area banks on 4 November 2014. The draft Framework Regulation outlines the rules and procedures governing the relationship between the ECB and national competent authorities ("NCAs") to ensure the SSM functions effectively.
The ECB plans to hold a public hearing on the consultation paper (broadcast live on the internet and available via a webcast) on 19 February 2014.
Comments can be made on the consultation paper until 7 March 2014. The ECB's consultation paper is available at: http://www.ecb.europa.eu/ssm/consultations/shared/pdf/framework/draft-ssm-frameworkregulation201402.en.pdf
The ECB's Questions and Answers document is available at: http://www.ecb.europa.eu/ssm/consultations/shared/pdf/framework/ssm-consultationqa.en.pdf
To read this Newsletter in full please click here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
