Macro-Prudential Tasks in the Framework of the Single Supervisory Mechanism (SSM): An Analysis of Article 5 of the SSM Regulation

ECEFIL Working Paper Series No. 2015/12

26 Pages Posted: 4 Oct 2015

See all articles by Christos Gortsos

Christos Gortsos

National and Kapodistrian University of Athens; EUSFIL Jean Monnet Centre of Excellence

Date Written: March 15, 2015

Abstract

The aim of this paper is to provide an analysis of the macro-prudential tasks assigned to the ECB within the context of the ‘Single Supervisory Mechanism’ (SSM), which is a major building block of the European Banking Union. It is structured in two (2) sections. Section 1 provides a general overview of the specific supervisory tasks conferred upon the ECB in relation to credit institutions and other supervised entities incorporated in participating Member States, as well as those concerning branches in participating Member States by credit institutions incorporated in non-participating Member States. Section 2 outlines, in particular, the specific macro-prudential tasks conferred upon the ECB under the provisions laid down in Article 5 of the Council Regulation (EU) No 1024/2013, which constitutes the main legal source of the ‘Single Supervisory Mechanism’ (known as the ‘SSM Regulation’).

Keywords: European Banking Union, SSM, SSM Regulation, macro-prudential oversight, macrodrudential regulation

JEL Classification: G21, K23

Suggested Citation

Gortsos, Christos, Macro-Prudential Tasks in the Framework of the Single Supervisory Mechanism (SSM): An Analysis of Article 5 of the SSM Regulation (March 15, 2015). ECEFIL Working Paper Series No. 2015/12, Available at SSRN: https://ssrn.com/abstract=2594714 or http://dx.doi.org/10.2139/ssrn.2594714

Christos Gortsos (Contact Author)

National and Kapodistrian University of Athens ( email )

EUSFIL Jean Monnet Centre of Excellence ( email )

Italy

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