Banking Union

Banking union: Commission proposals for a single supervisory mechanism (2012)

On 12 September 2012 the Commission proposed a single supervisory mechanism (SSM) for banks led by the European Central Bank (ECB) in order to strengthen the Economic and Monetary Union. The set of proposals is a first step towards an integrated “banking union” which includes further components such as a single rulebook, common deposit protection and a single bank resolution mechanisms.