• High supervisory standards important
    Lithuania
    High supervisory standards important

    With the adoption of the euro, Lithuania joined the Single Supervisory Mechanism on 1 January 2015. Ingrida Šimonytė, Lietuvos bankas’ new Member of the Supervisory Board, talks about Lithuania’s banking sector and the challenges for ECB Banking Supervision.

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  • A healthy start to supervision
    Single Supervisory Mechanism
    Your questions answered!

    What makes a bank "significant"? What is the role of the national supervisors? Find answers to these questions and more in all EU languages in the frequently asked question’s section.

    Read more
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19 February 2015PRESS RELEASE

Luc Coene joins Supervisory Board

The ECB Governing Council has appointed Luc Coene as ECB representative to the Supervisory Board of the ECB. Mr Coene will take up his new role on 11 March 2015.

CV: Luc Coene

Supervisory Board

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23 January 2015INTERVIEW

Nouy on Lithuania and Greece

In an interview with the Lithuanian business daily Verslo žinios, Danièle Nouy describes the benefits of banking union for Lithuanians and discusses current issues relating to Greek banks.

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19/02/2015
Supervisory Board Member appointed
29/01/2015
ECB Banking Supervision recommends prudent dividend policy and announces review of variable remuneration
01/01/2015
Lithuania joins the euro area
22/12/2014
ECB publishes revised Ethics Framework and new Code of Conduct for Supervisory Board members to reflect supervisory tasks
04/11/2014
ECB assumes responsibility for euro area banking supervision

All press releases

27/01/2015
Ignazio Angeloni:  Transparency and banking supervision
Remarks by Ignazio Angeloni, Member of the Supervisory Board of the European Central Bank
at the ICMA Capital Market Lecture Series, 
Frankfurt am Main, 27 January 2015
20/11/2014
Danièle Nouy:  Marking the inauguration of the ECB’s new supervisory responsibilities
Keynote speech by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism, 
at the inauguration of the European Central Bank’s new supervisory responsibilities, 
Frankfurt am Main, 20 November 2014

Summary

Speaking at the Inauguration of the European Central Bank’s new supervisory responsibilities, Danièle Nouy, Chair of the Supervisory Board of the ECB, reflected on the origins of the Single Supervisory Mechanism, which she traced back to the hard lessons learned from the global financial crisis. She also commented on the unprecedented undertaking of setting up a new supervisory system in less than a year, while simultaneously conducting the comprehensive assessment. Ms Nouy stated that “the ECB was a perfect and natural home. No other institution could have offered better support for the creation of the SSM”.

Describing the SSM as the first supervisor “with a truly European mandate, which will impact the way we supervise the banking sector”, Ms Nouy argued that its set-up would allow for more benchmarking and peer comparisons. Ms Nouy then highlighted the need to address macro-prudential risks from a system-wide perspective. She noted that all of the moves to converge supervisory practices, such as the new Joint Supervisory Teams (JSTs) who base their supervisory decisions on the single European rulebook, would make little sense if the regulatory environment remained fragmented.

Looking ahead, the Chair of the European banking supervisory system called for reducing national discrepancies and pointed to the now famous report by Jacques de Larosière from 2009 in which he called for aligning financial regulation. “Our priority will be to tackle the most controversial national options, for instance regarding the definition of capital”, Ms Nouy added, before concluding that it was now time to focus on making this new system operate effectively to deliver supervision that is “tough and thorough”.

18/11/2014
Sabine Lautenschläger:  Start of the Single Supervisory Mechanism: from the comprehensive assessment to day-to-day supervision
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB, 
at the Euro Finance Week, 
Frankfurt, 18 November 2014
13/11/2014
Sabine Lautenschläger:  The interplay between macro-prudential, micro-prudential and monetary policies at the ECB (slides from the presentation)
Presentation by Sabine Lautenschläger, Member of the Executive Board of the ECB, 
at the conference “Macroprudential policy: Implementation and Interaction with other Policies” jointly organised by Sveriges Riksbank and the IMF in Stockholm, 13 November 2014
10/11/2014
Ignazio Angeloni:  The SSM sails past the starting line: Seeking high-quality supervision and level playing field
Remarks by Ignazio Angeloni, Member of the Supervisory Board of the European Central Bank, 
International conference on “Start of European Banking Union: Perspectives and Challenges” London School of Economics and Political Science, 
London, 10 November 2014

All speeches

23/01/2015
Danièle Nouy:  Interview with Verslo žinios
Interview with Danièle Nouy, Chair of the Supervisory Board of the ECB, conducted by Dalius Simenas on 20 January 2015
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17/11/2014
Danièle Nouy:  Interview with Delo
Interview with Danièle Nouy, Chair of the Supervisory Board of the ECB, conducted by Miha Jenko on 17 November 2014
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05/11/2014
Danièle Nouy:  The next step towards better banking supervision – new Europe-wide regulatory standards will enhance systemic stability
Opinion piece by Danièle Nouy, Chair of the Supervisory Board, and Sabine Lautenschläger, Vice-Chair of the Supervisory Board, 
published in the Wall Street Journal on 4 November 2014
03/11/2014
Sabine Lautenschläger:  Interview with Le Monde
Interview with Sabine Lautenschläger, Member of the Executive Board of the ECB, 
conducted by Marie Charrel on 3 November 2014
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02/11/2014
Danièle Nouy:  Interview with El País
Interview by Danièle Nouy, Chair of the Supervisory Board of the Single Supervisory Mechanism (SSM), 
conducted by Xavier Vidal-Folch, 
published 2 November 2014
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All interviews

26/02/2015
The list of significant supervised entities and the list of less significant institutions, February 2015 (updated)
18/02/2015
Letter from Danièle Nouy, Chair of the Supervisory Board, to Mr Annemans, Member of the European Parliament, on the risk weights of sovereign bonds
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02/02/2015
Letter from Danièle Nouy, Chair of the Supervisory Board, to Mr De Masi, Member of the European Parliament, on the professional background of newly hired ECB staff for banking supervision tasks
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22/01/2015
Letter from Danièle Nouy, Chair of the Supervisory Board, to Mr Fabio De Masi, Member of the European Parliament, on the Code of Conduct for Supervisory Board members
08/01/2015
Letter from the ECB President to Mr Mario Borghezio, MEP, on the comprehensive assessment
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All publications

26/02/2015
Decision of the ECB of 11 February 2015 on the methodology and procedures for the determination and collection of data regarding fee factors used to calculate annual supervisory fees (ECB/2015/7)
20/02/2015
Decision of the ECB of 12 February 2015 amending Decision ECB/2004/2 adopting the Rules of Procedure of the ECB (ECB/2015/8)
13/02/2015
Recommendation of the ECB of 28 January 2015 on dividend distribution policies  (ECB/2015/2)
04/02/2015
Decision of the ECB of 4 February 2015 on the conditions under which credit institutions are permitted to include interim or year-end profits in Common Equity Tier 1 capital in accordance with Article 26(2) of Regulation (EU) No 575/2013  (ECB/2015/4)
15/12/2014
Amendment 1/2014 of 15 December 2014 to the Rules of Procedure of the Supervisory Board of the ECB,

All legal acts

Progress in the operational implementation of the Single Supervisory Mechanism Regulation.

SSM Quarterly Report 2014/3

Description:

Progress in the operational implementation of the Single Supervisory Mechanism Regulation.

[Hard copies available in EN]

Note on the comprehensive assessment, July 2014

Note on the comprehensive assessment, July 2014

Description:

Stress test as part of the CA. Disclosure of the CA results. General timeline and process of the CA disclosure.

[Hard copies available in EN]

Progress in the operational implementation of the Single Supervisory Mechanism Regulation.

SSM Quarterly Report 2014/2

Description:

Progress in the operational implementation of the Single Supervisory Mechanism Regulation.

[Hard copies available in EN]

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November 2014PUBLICATION

Guide to banking supervision

The Guide explains how the Single Supervisory Mechanism works and offers guidance on supervisory practices. It describes how European supervision is conducted under the new framework and is published in all participating country languages.

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Banking union

"European supervision […] provides a new paradigm that incorporates the best elements of each nation’s approach."

Sabine Lautenschläger
Vice-Chair of the Supervisory Board

Multimedia

  • SSM Press Conference - 26 October 2014

  • SSM explained in 3 minutes

  • Explaining the template for the comprehensive assessment

  • Living in Frankfurt. Working for the ECB.

  • Working for the ECB. Building banking supervision

  • Danièle Nouy and Sabine Lautenschläger talk about the ECB's new banking supervision role [raw video]