Enria announces major change to ECB banking supervisor

SSM head Andrea Enria
Photo: EBA

The European Central Bank’s Single Supervisory Mechanism is set to make a major change to its internal structure, “to be completed in the fourth quarter of 2020”, it announced on July 29.

Andrea Enria, the SSM’s head, says in an official statement that the supervisor will oversee banks according to their business model. Enria became the ECB’s chief banking supervisor in January 2019, succeeding Danièle Nouy, its first head.

The new departments will bring the ECB’s total to seven. These

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