Council Regulation (EU) No 1024/2013

E386345

Council Regulation (EU) No 1024/2013 is the EU law that established and governs the Single Supervisory Mechanism, granting the European Central Bank key powers to oversee significant banks in the euro area.

All labels observed (3)

How this entity was disambiguated

Statements (49)

Predicate Object
instanceOf EU banking union legislation ⓘ
European Union regulation ⓘ
adoptedBy Council of the European Union ⓘ
aimsTo ensure the safety and soundness of credit institutions ⓘ
establish a Single Supervisory Mechanism for banks in the euro area ⓘ
increase financial stability in the European Union ⓘ
allocatesTasksTo European Central Bank ⓘ
national competent authorities of participating Member States ⓘ
allowsParticipationOf non-euro area Member States through close cooperation ⓘ
appliesTo euro area Member States ⓘ
basedOnTreatyArticle Article 127(6) of the Treaty on the Functioning of the European Union ⓘ
Article 132(1) of the Treaty on the Functioning of the European Union ⓘ
Article 5(4) of the Treaty on European Union ⓘ
complements Directive 2013/36/EU ⓘ
Regulation (EU) No 575/2013 ⓘ
confersPowersOn European Central Bank ⓘ
dateAdopted 2013-10-15 ⓘ
dateOfSignature 2013-10-15 ⓘ
definesConcept less significant credit institution ⓘ
significant credit institution ⓘ
enteredIntoForceOn 2013-11-03 ⓘ
establishes Single Supervisory Mechanism ⓘ
establishesCriterion cross-border activity criteria for significant institutions ⓘ
importance for the economy of the Union or of a participating Member State ⓘ
size-based criteria for significant institutions ⓘ
grantsPower to assess acquisitions and disposals of qualifying holdings in credit institutions ⓘ
to conduct supervisory reviews and stress tests ⓘ
to ensure compliance with prudential requirements for credit institutions ⓘ
to grant and withdraw authorisations of credit institutions in participating Member States ⓘ
to impose supervisory measures and sanctions on credit institutions ⓘ
jurisdiction European Union ⓘ
languageVersion all official languages of the European Union ⓘ
legalArea banking supervision ⓘ
financial regulation ⓘ
legalBasisFor Single Supervisory Mechanism ⓘ
officialName Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions ⓘ
OJIssuesNumber 287 ⓘ
OJPublicationDate 2013-10-29 ⓘ
OJSeries L ⓘ
partOf EU banking union framework ⓘ
providesFor a supervisory board within the ECB ⓘ
cooperation between the ECB and national competent authorities ⓘ
publishedIn Official Journal of the European Union ⓘ
requires accountability of the ECB to the European Parliament and Council for supervisory tasks ⓘ
separation between monetary policy and supervisory functions within the ECB ⓘ
shortName SSM Regulation ⓘ
linked to: SSM

Single Supervisory Mechanism Regulation ⓘ
subjectMatter banking supervision in the euro area ⓘ
prudential supervision of credit institutions ⓘ

How these facts were elicited

Referenced by (6)

Full triples — surface form annotated when it differs from this entity's canonical label.

Single Supervisory Mechanism → legalBasis → Council Regulation (EU) No 1024/2013 ⓘ
Single Supervisory Mechanism → legalBasis → Regulation (EU) No 1022/2013 ⓘ
linked to: Council Regulation (EU) No 1024/2013
Single Supervisory Mechanism → legalBasis → Council Regulation (EU) No 1024/2013 ⓘ
subject linked to: SSM
Council Regulation (EU) No 1024/2013 → officialName → Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions ⓘ
linked to: Council Regulation (EU) No 1024/2013
Supervisory Board of the European Central Bank → basedOn → Council Regulation (EU) No 1024/2013 ⓘ
Joint Supervisory Teams → basedOnLegalFramework → Council Regulation (EU) No 1024/2013 ⓘ