Press Release: Danièle Nouy appointed head of ECB supervisory board

At a meeting of the Agriculture and Fisheries Council taking place in Brussels on 16-17 December 2013, the Council of the European Union adopted a decision appointing Danièle Nouy as the first-ever chairperson of the supervisory board of the European Central Bank.

The ECB will have direct oversight of eurozone banks under the single supervisory mechanism (SSM) – one of the key elements of Europe's banking union – and will be responsible for the overall functioning of the SSM. It will carry out its supervisory tasks in a differentiated manner, in close cooperation with national supervisory authorities.

The first pillar of the Banking Union is the Single Supervisory Mechanism (SSM), with the European Central Bank (ECB) at its centre. The Single supervisory mechanism regulation confers upon the ECB specific supervisory tasks over credit institutions in the euro area.

• Primary Source

European Commission: RAPID: Memo, MEMO/13/1155: Statement by Commissioner Barnier on the appointment of Danièle Nouy as first Chairperson of the Supervisory Board of the Single Supervisory Mechanism http://europa.eu/rapid/press-release_MEMO-13-1155_en.pdf

ESO: Background information: Statement by President Barroso and Commissioner Barnier following the European Parliament's vote on the creation of the Single Supervisory Mechanism for the eurozone http://www.europeansources.info/record/memo-statement-by-president-barroso-and-commissioner-barnier-following-the-european-parliaments-vote-on-the-creation-of-the-single-supervisory-mechanism-for-the-eurozone/

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