News & Analysis as of September 21, 2024

European Union › Single Supervisory Mechanism

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

Regulatory Monitoring: EU Version May 2023

A&O Shearman on 6/1/2023

The EBA has launched a consultation on two RTS and ITS on the functioning of supervisory colleges under the CRD. These new technical standards will ensure that the Level 2 framework for the functioning of supervisory colleges...more

Regulatory Monitoring - May 2023

A&O Shearman on 6/1/2023

ECB in focus is our blog dedicated to the banking supervisory activities of the European Central Bank (ECB). We report on key developments in European banking regulation led by the ECB as part of the Single Supervisory...more

Financial Regulatory Observer - December 2019: How to challenge the ECB: Lessons from first EU court cases on the SSM

White & Case LLP on 12/30/2019

The European Courts have handed down first judgments on supervisory measures taken by the ECB, highlighting important issues regarding the application of the law. The Single Supervisory Mechanism (SSM) refers to the...more

Eurozone Supervisory Priorities for 2020

A&O Shearman on 10/21/2019

The European Central Bank's Banking Supervision arm has published the 2020 supervisory priorities of the Single Supervisory Mechanism and a risk assessment for 2020. ECB Banking Supervision has identified the following risks...more

European Central Bank Issues Statement on Liquidity of Euro Area Banks

A&O Shearman on 10/16/2019

The European Central Bank has issued a statement on the results of its 2019 supervisory stress test. The European Central Bank is responsible for direct prudential supervision of certain significant banks based in the...more

European Central Bank Amends Its Supervisory Expectations on Non-Performing Loans

A&O Shearman on 9/3/2019

Following the coming into force on April 26, 2019 of an EU regulation amending the Capital Requirements Regulation that introduced a statutory prudential backstop, and requires banks to have minimum loan loss coverage for...more

European Central Bank Guide to On-site Inspections and Internal Model Investigations

A&O Shearman on 10/4/2018

The European Central Bank has published its finalized Guide to on-site inspections and internal model investigations under the Single Supervisory Mechanism. The ECB is empowered under the SSM Regulation to conduct, with...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 6/22/2018

U.S. Financial Industry Developments - Credit Agreements Will Require Important Updates If a Proposed New Delaware Law Is Passed - The Delaware legislature is currently contemplating an amendment to the Delaware Limited...more

New Pre-Application Process for Significant Institutions to Use Before Submitting Formal Internal Model Requests to ECB

Orrick - Finance 20/20 on 6/20/2018

The European Central Bank (“ECB“) published a letter on June 13, 2018 (dated June 7, 2018) relating to internal model requests by significant institutions. It appears that the letter has been sent to the boards of...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 4/20/2018

ECB Publishes Opinion on Proposed Regulation Amending EBA Regulation - The European Central Bank ("ECB") published an opinion (CON/2018/19) (dated April 11, 2018) on a proposed Regulation amending (among other things) the...more

ECB Sets out Its Expectations for Booking Models and “Empty Shells” after Brexit

Pillsbury Winthrop Shaw Pittman LLP on 2/27/2018

Booking model practices used by international banks placed under scrutiny as a result of Brexit. The European Central Bank has been considering the booking model practices used by international banks, and how to prevent...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 11/17/2017

SEC Announces the Formation and First Members of Fixed Income Market Structure Advisory Committee - On November 9, 2017, the Securities and Exchange Commission ("SEC") announced the formation and first members of its Fixed...more

European Central Bank Highlights Challenges for Smaller Eurozone Firms

A&O Shearman on 11/16/2017

The European Central Bank has published a Report on the supervision of less significant institutions under the Single Supervisory Mechanism. The SSM is made up of the ECB and national regulators of Eurozone member states, and...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 10/20/2017

SEC Proposes Rules to Implement FAST Act Mandate to Modernize and Simplify Disclosure - On October 11, 2017, the Securities and Exchange Commission (SEC) proposed amendments "to modernize and simplify disclosure...more

ECB Publishes Letter on Development of SSM Guides on ICAAP and ILAAP for Significant Institutions

Orrick - Finance 20/20 on 2/28/2017

On February 20, 2017, the European Central Bank (“ECB“) published a letter from Ms. Daniele Nouy, Chair of the Supervisory Board of the ECB, to the management of significant institutions under the Single Supervisory Mechanism...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 12/2/2016

FHFA Announces Increase in Maximum Conforming Loan Limits for Fannie Mae and Freddie Mac in 2017 - On November 23, 2016, the Federal Housing Finance Agency (FHFA) announced an increase in the maximum conforming loan...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 11/23/2016

Financial Industry Developments - CFTC Division of Market Oversight Reminds Market Participants of the Upcoming Expiration of Certain No-Action Relief From the Ownership and Control Final Rule - On November 16,...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 10/21/2016

Financial Industry Developments - CTFC Approves Proposed Rules Addressing Application of Certain CEA Regulations to Cross-Border Transactions - On October 11, 2016, the U.S. Commodity Futures Trading Commission...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 3/31/2016

Litigation Finance: A Brief History of a Growing Industry - Litigation costs money. Litigation finance can provide the cash a plaintiff needs to prevail in court. Plaintiffs holding valid—and potentially quite...more

ECB Publishes Regulation and Guidance on Options and Discretions Available in Union Law

Orrick - Finance 20/20 on 3/29/2016

On March 24, 2016, Regulation ((EU) 2016/445) of the European Central Bank (ECB) on the exercise of options and discretions (ODs) was published in the Official Journal of the EU (OJ). The ECB has also published a guide on the...more

ECB Publishes Its SSM Supervisory Priorities for 2016

Orrick - Finance 20/20 on 1/13/2016

On January 6, the European Central Bank (“ECB”) published a paper setting out its supervisory priorities in relation to the banks it supervises under the Single Supervisory Mechanism (“SSM”). The ECB’s supervisory priorities...more

"European Central Bank Publishes Final List of 'Significant Supervised Entities' in Preparation for Banking Union"

Skadden, Arps, Slate, Meagher & Flom LLP on 9/15/2014

On 4 September 2014, the EU’s European Central Bank (ECB) published its final list of significant supervised entities and less significant institutions for the purposes of the Eurozone’s single supervisory mechanism (SSM),...more

European Central Bank to Undertake Comprehensive Assessment of Large Banks in Advance of the Single Supervisory Mechanism

Orrick - Finance 20/20 on 10/30/2013

In a press release dated October 23, the ECB announced that it will undertake a comprehensive assessment of large banks prior to assuming full responsibility for supervision as part of the SSM. ...more

Council of the European Union Votes to Adopt SSM Legislation

Orrick - Finance 20/20 on 10/23/2013

On October 15, the Council of the European Union announced that it had voted to adopt the proposed Regulation setting up single supervisory mechanism (SSM) legislation. ....more

European Agreement on Creation of a Single Supervisory Mechanism

Orrick - Finance 20/20 on 3/28/2013

An agreement has been reached on the way the European Central Bank (ECB) will be responsible for the supervision of banks within the framework of the single supervisory mechanism. ...more

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European Union › Single Supervisory Mechanism

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