Regulation of banks

This subtopic contains the following documents:

Practice Notes

1. •

   The EU’s Single Rulebook—in June 2012, the European Council proposed the establishment of the European Banking Union as part of a longer term vision for further economic and monetary integration for all EU Member States in the eurozone (an economic and monetary union of the EU Member States). A core element of the Banking Union consisted of the development of a Single Supervisory Mechanism (SSM), establishing the European Central Bank as the overarching prudential supervisor of significant eurozone banks. This Practice Note looks at the Single Rulebook, which is used under the SSM with the intention of achieving a uniform prudential regulatory framework throughout the EU financial sector, creating greater consistency, transparency and efficiency.

2. •

   The EU’s Single Supervisory Mechanism—the European Banking Union is underpinned by a single regulatory rulebook for financial services, which is intended to promote the integration of banking supervision within the EU. Central to the European Banking Union is the Single Supervisory Mechanism (SSM) (established by Council Regulation (EU) 1024/2013 (the SSM Regulation)). The SSM is designed to ensure that supervision of credit