Draft ECB SSM Framework Regulation

Object of the consultation

Object of the consultation

The EU Regulation governing the Single Supervisory Mechanism (SSM Regulation) requires the ECB, in consultation with national competent authorities (NCAs), to adopt and make public a framework to organise the practical arrangements for the implementation of the cooperation between the ECB and the NCAs within the SSM.

Accordingly, the ECB, in consultation with the NCAs, has prepared a draft ECB Regulation (the ECB SSM Framework Regulation), which lays down rules and procedures governing the cooperation between the ECB and the NCAs, on both micro-prudential and macro-prudential tasks.

The purpose of this consultation is to give any interested parties the opportunity to comment on the draft framework.

Period of consultation

The final publication of the ECB SSM Framework Regulation is legally required by 4 May 2014. To allow sufficient time to assess the contributions, the period of consultation will last for four weeks. Comments may therefore be submitted up to midnight on 7 March, the closing date of the consultation period. Only comments received by the ECB within the consultation period will be considered.

Public hearing

Public hearing on 19 February

The ECB held a public hearing at its premises in Frankfurt am Main on Wednesday, 19 February 2014.

Programme for the public hearing

Consultation documents

Comments received

Comments received

In total, 36 submissions were received.

Central banks and supervisory authorities

Komisja Nadzoru Finansowego (Polish supervisory authority) (CP1 – Framework Regulation Consultation – 023) Czech National Bank (CP1 – Framework Regulation Consultation – 010) Magyar Nemzeti Bank (CP1 – Framework Regulation Consultation – 003) National Bank of Romania (CP1 – Framework Regulation Consultation – 024)

Public authorities

Federal Ministry of Finance, Austria (CP1 – Framework Regulation Consultation – 036) Financial Markets Department, Ministry of Finance, Finland (CP1 – Framework Regulation Consultation – 037)

Credit and financial institutions

Banco Santander (CP1 – Framework Regulation Consultation – 029) Bank of Cyprus (CP1 – Framework Regulation Consultation – 011) Clearstream Holding AG (CP1 – Framework Regulation Consultation – 027) Deutsche Bank AG (CP1 – Framework Regulation Consultation – 028) HSBC France (CP1 – Framework Regulation Consultation – 034) HSBC France (CP1 – Framework Regulation Consultation – 034a The Royal Bank of Scotland (CP1 – Framework Regulation Consultation – 015) Unicredit (CP1 – Framework Regulation Consultation – 032) Unicredit (CP1 – Framework Regulation Consultation – 032a)

Market and banking associations

ABBL, The Luxembourg Bankers' Association (CP1 – Framework Regulation Consultation – 007) Association for Financial Markets in Europe - AFME (CP1 – Framework Regulation Consultation – 019) Associazione Bancaria Italiana – ABI (CP1 – Framework Regulation Consultation – 012) European Association of Co-operative Banks (CP1 – Framework Regulation Consultation – 025) Deutscher Industrie- und Handelskammertag (CP1 – Framework Regulation Consultation – 022) Die Deutsche Kreditwirtschaft (CP1 – Framework Regulation Consultation – 017) Die Deutsche Kreditwirtschaft (CP1 – Framework Regulation Consultation – 017a) Dutch Banking Association (CP1 – Framework Regulation Consultation – 005) Dutch Banking Association (CP1 – Framework Regulation Consultation – 005a) European Banking Federation (CP1 – Framework Regulation Consultation - 021) European Banking Federation (CP1 – Framework Regulation Consultation - 021a) European Banking Federation (CP1 – Framework Regulation Consultation - 021b) European Savings and Retail Banking Group (ESBG) (CP1 – Framework Regulation Consultation – 014) French Banking Federation (CP1 – Framework Regulation Consultation – 013) Genossenschaftsverband Bayern (GVB) – Raiffaisenverband Südtirol (CP1 – Framework Regulation Consultation – 020) Gesamtverband der Deutschen Versicherungswirtschaft e.V. (CP1 – Framework Regulation Consultation – 026) Österreichischer Sparkassenverband (CP1 – Framework Regulation Consultation – 002) Portuguese Banking Association (APB) (CP1 – Framework Regulation Consultation – 016) Realkreditrådet - Association of Danish mortgage banks (CP1 – Framework Regulation Consultation – 018) Realkreditrådet - Association of Danish mortgage banks (CP1 – Framework Regulation Consultation – 018a - Annex) Nordic/ Baltic Associations (CP1 – Framework Regulation Consultation – 035) Swedish Bankers´ Association (CP1 – Framework Regulation Consultation – 008) Wirtschaftskammer Österreich (CP1 – Framework Regulation Consultation – 006)

Trade Unions

UNI Europa (CP1 – Framework Regulation Consultation – 004)

Individuals/Others

Avgerinos Avramikos, lawyer (CP1 – Framework Regulation Consultation – 030) (CP1 – Framework Regulation Consultation – 033) Klaus Lackhoff, lawyer, Freshfields (CP1 – Framework Regulation Consultation – 031) Klaus Lackhoff, lawyer, Freshfields (CP1 – Framework Regulation Consultation – 031a) Sonila Lamaj, University of Aquila (CP1 – Framework Regulation Consultation – 009)