Newsletter June 2013: ‘Intense’ interactions between EBA and SSM

BRUSSELS – Interaction between the European Banking Authority (EBA), the pan-EU supervisory body set up at the beginning of 2011, and the new single supervisory mechanism (SSM), now being created as part of the banking union project for the eurozone, “will necessarily be very intense,” according to the vice-president of the European Central Bank. Vítor Constâncio was commenting at a public hearing in Brussels in late May on the implications of the SSM’s creation for the European System of Financial Supervision (ESFS).