THE SINGLE SUPERVISORY MECHANISM (SSM)

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XXII SUMMARY TABLE OF CONTENTS
Section E:
The investigatory and speciÀc
supervisory powers of the ECB
1. General overview.................................................................................................. 201
2. The general principles
2.1 Powers of the ECB.......................................................................................... 202
2.2 Exercise of the ECB powers ........................................................................ 203
3. Investigatory powers
3.1 Requests for the provision of information ............................................. 204
3.2 Conduct of investigations ............................................................................ 207
3.3 In particular: conduct of on-site inspections......................................... 208
4. SpeciÀc supervisory powers
4.1 Authorisation of credit institutions .......................................................... 212
4.2 Assessment of acquisitions of qualifying holdings in credit
institutions....................................................................................................... 220
4.3 Supervisory powers under Article 16 of the SSM Regulation ............ 222
4.4 Powers of host authorities and cooperation on consolidated
supervision ...................................................................................................... 224
4.5 Administrative penalties .............................................................................. 225
Section F:
Organisational principles
1. General overview.................................................................................................. 239
2. The new governance structure
2.1 The Supervisory Board ................................................................................. 240
2.2 Internal structure of the ECB with regard to its supervisory
tasks and new composition of Eurosystem/ESCB Committees .......... 254
2.3 The Administrative Board of Review ....................................................... 255
3. Aspects of independence
3.1 Introductory remarks.................................................................................... 262
3.2 Institutional independence ......................................................................... 264
3.3 Financial independence .............................................................................. 265
4. Accountability of the ECB vis-à-vis EU institutions and
national parliaments
4.1 Accountability vis-à-vis EU institutions................................................... 269
4.2 Accountability vis-à-vis national parliaments........................................ 277