The European Central Bank has published a draft list of credit institutions that it has notified of its intention to consider significant for the purposes of the single supervisory mechanism (SSM).
The ECB explains on its webpage on the SSM that, under Article 6(4) of the SSM Regulation it will directly supervise significant credit institutions, representing almost 85% of total banking assets in the euro area.
The ECB will apply specific criteria to determine whether a credit institution should be considered significant. In addition, in each country participating in the SSM, at least the three most significant credit institutions will be subject to direct supervision by the ECB, irrespective of their size.
The ECB will publish the final list in September 2014, and it will be reviewed on a regular basis thereafter.
View Banking supervision: the Single Supervisory Mechanism, 26 June 2014