The European Central Bank (ECB) has published a decision which amends its rules of procedure. The amended rules reflect changes to the ECB’s governance and operations that are required as a consequence of its supervisory role under the single supervisory mechanism (SSM). The decision contains provisions relating to the:
- SSM’s supervisory board, including its composition, voting procedures and the code of conduct for supervisory board members;
- adoption of decisions by the ECB for the purpose of its role under the SSM;
- separation of the ECB’s monetary and supervisory roles; and
- establishment of an audit committee for the ECB.