The Role of the European Central Bank in the Single Supervisory Mechanism: A New Paradigm for EU Governance

• Autores: Agnese Pizzolla
• Localización: European law review, ISSN 0307-5400, Nº 1, 2018, págs. 3-23
• Idioma: inglés
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• Resumen

  • The institutional design of the Single Supervisory Mechanism (SSM) has been strongly influenced by reliance on art.127(6) TFEU as legal basis for its establishment. By providing for the possibility of attributing specific supervisory tasks to the European Central Bank (ECB), art.127(6) directly affected the role of the ECB within the SSM, in particular with respect to way in which it interacts with national competent authorities. When compared with the role of EU Institutions in other models of governance - the ECB in the European System of Central Banks and the Commission in the European Competition Network - the organisational structure of the SSM appears to be characterised by a unique combination of elements of centralisation and decentralisation, which confirms the SSM as a new paradigm for EU governance.