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Single Supervisory Mechanism - 16/10/2013


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White paper on Single Supervisory Mechanism (SSM)

Please find here a white paper developed by the Deloitte European Center for Regulatory Strategy on the SSM and its impacts.

Created with the intention to sever the link between banks and their sovereigns, the SSM can be considered as the cornerstone of the Banking Union which also encompasses a single rulebook for financial institutions in the single market, harmonised deposit guarantee schemes, and a single European recovery and resolution Framework.

Despite a lot of uncertainty over the details, the SSM will dramatically change the supervision of cross-border banks and interaction between the various authorities.

In the near term, in the run-up to the implementation of the SSM, the significant banks will have to cope with an extensive balance sheet assessment exercise that will be performed at the same time as the implementation of CRD IV.

The paper looks at the background and intended objectives of setting up a single supervisory mechanism for the Eurozone, and also attempts to explore some of the challenges likely to be faced by both the regulators and the supervised banks.

We hope this document will offer some useful insights into the evolution of the supervisory framework applicable to the Eurozone, and its impacts on banks.

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Contacts

Name:
Martin Flaunet
Company:
Deloitte Luxembourg
Job Title:
Partner - Banking Leader
Phone:
+352 451 452 334
Email
mflaunet@deloitte.lu
Name:
Laurent Berliner
Company:
Deloitte Luxembourg
Job Title:
Partner - EMEA Financial Services Industry Enterprise Risk Services Leader
Phone:
+352 451 452 328
Email
lberliner@deloitte.lu

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