Chapter 8 Flashcards
1
Q
What is the Single Supervisory Mechanism (SSM)
A
New system of financial supervision by ECB
DNB is designated national authority
Works together with:
* European Banking Authority (EBA)
* European Parliament
* Eurogroup
* European Commission
* EU Systemic Risk Board (ESRB)
2
Q
Who are the ESRB
A
Responsible for systemic supervision of financial system in EU
Monitors risk for economy
3
Q
What is the EBA
A
Supervision of banks
Tasked with improving operations of the internal market
4
Q
What is the European System of Financial Supervision (ESFS)
A
ESRB and EBA work together in this system
5
Q
Covergene of national supevisory regimes
A
If a bank is affected by two or more supervisory regimes, it must comply iwth all separate national requirements
