THE SINGLE SUPERVISORY MECHANISM (SSM)

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XX SUMMARY TABLE OF CONTENTS
5. Final remarks: European banking law in the era of the European
Banking Union
5.1 The sources of European banking law ....................................................... 37
5.2 The legislative process ‘in a nutshell’ ....................................................... 38
Section B:
The legal framework of the Single
Supervisory Mechanism
1. The SSM Regulation
1.1 Scope ................................................................................................................... 47
1.2 General aspects ............................................................................................... 49
1.3 Legal basis .......................................................................................................... 53
1.4 Timetable of implementation ...................................................................... 55
1.5 Transitional arrangements and grandfathering clauses......................... 57
1.6 Review by the Commission ........................................................................... 61
2. The other legal acts
2.1 Regulation (EU) No 1022/2013 amending the ‘EBA Regulation’......... 64
2.2 Legal acts of the ECB ...................................................................................... 71
2.3 Interinstitutional Agreement between the European
Parliament and the ECB ................................................................................. 80
2.4 Memorandum of Understanding between the Council
and the ECB ....................................................................................................... 81
Section C:
The main elements of the
Single Supervisory Mechanism
1. General overview.................................................................................................... 87
2. The structure of the SSM
2.1 The two components of the SSM ................................................................. 87
2.2 The ECB as the main actor ............................................................................ 88
2.3 The national competent authorities........................................................... 92
3. The regulatory perimeter
3.1 The perimeter in respect of different types of Ànancial Àrms .......... 94
3.2 The perimeter in respect of Member States.......................................... 100
3.3 The perimeter in respect of credit institutions and
other supervised entities ............................................................................ 101