Supervisory Rules of Procedure published

The Rules of Procedure for the Supervisory Board of the ECB were published in the Official Journal of the EU, 21 June 2014. This makes the legislation, which entered into force 1 April 2014, binding with retroactive effect.

The Single Supervisory Mechanism Regulation (Regulation 1024/2013) tasks the ECB with the supervision of credit institutions; the Supervisory Board is responsible for the planning and execution of this mandate, including the adoption and publication of the rules of procedure. For more detail on the SSM Regulation, see this blog post.