Author (Corporate) | Council of the European Union: General Secretariat |
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Series Title | Press Release |
Series Details | PRES/13/584 (16.12.13) |
Publication Date | 16/12/2013 |
Content Type | Legislation, News |
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. |
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Source Link | Link to Main Source http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/140113.pdf |
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Subject Categories | Business and Industry, Politics and International Relations |
Countries / Regions | Europe |