The Single Supervisory Mechanism and the Czech Republic
The Single Supervisory Mechanism and the Czech Republic
Author(s): Hynek Černý
Subject(s): Evaluation research, Financial Markets
Published by: Masarykova univerzita nakladatelství
Keywords: authority; banks; supervision; regulation;
Summary/Abstract: From November 4th, 2014 the ECB, acting on its responsibility as regional supervisor will be launching the Single Supervisory Mechanism (SSM). The Mechanism puts in place a system of community banks supervision that involves national supervisors and the ECB. Participation in the SSM is not mandatory for the countries outside the euro area. They have the option to participate in the system by entering into close cooperation agreement with ECB. For this purpose, the ECB will have to issue and adopt many rules and operating procedures before the commencement of the SSM.
Book: European Financial Systems 2014
- Page Range: 111-117
- Page Count: 7
- Publication Year: 2014
- Language: English
- Content File-PDF