Setting up the Single Supervisory Mechanism (SSM) required some changes to the ECB’s existing organisational structure, including the creation of new business areas.
Creation of new business areas
The micro-prudential function is organised into four Directorates General (DGs) and a Secretariat to the Supervisory Board.
DGs Micro-Prudential Supervision I and II deal with the direct day-to-day supervision of significant banks.
DG Micro-Prudential Supervision III is responsible for the oversight of the supervision of less significant banks performed by national supervisors.
DG Micro-Prudential Supervision IV performs horizontal and specialised tasks in respect of all banks under the ECB’s supervision and provides specialised expertise on specific aspects of supervision.
A dedicated Secretariat supports the Supervisory Board and provides assistance for the drafting of supervisory decisions.
Provision of shared services
A number of existing ECB units and services provide support for its supervisory tasks.
The required “shared services” (e.g. IT, HR, budget, legal, statistics, communications and administration) are largely provided by existing ECB business areas, thereby avoiding duplication of work and helping to guarantee the efficient and effective delivery of services.