European Union:
EU Council Publishes Proposals For Banking Union
02 April 2013
De Brauw Blackstone Westbroek N.V.
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The EU Council published its proposals for a Single Supervisory
Mechanism (SSM) for banks in the Eurozone last month. The SSM is
the first pillar of the European Banking Union and grants the ECB
direct supervisory powers with respect to the most significant
banks in Eurozone countries, as well as with regard to smaller
Eurozone banks. We have already sent a legal alert to our
clients about this. The legal alert can also be downloaded from
our website.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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