ECB unveils ‘co-operation framework’ for SSM

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The European Central Bank (ECB) today set out its vision for how it will coexist with national competent authorities (NCAs) when it assumes its supervisory powers on November 4.

The advent of the SSM will see the ECB supervise the most significant banks in the eurozone – around 130 of them – while the NCAs will supervise the remainder. The division of labour is not, however, as clear cut as that division would suggest.

The ECB has constructed a "framework for co-operation" that outlines which au

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