Changes to banking supervision

NEWS AND EVENTS 05 Nov 2014

To mark the entry into force of the Single Supervisory Mechanism (SSM), SÉRVULO yesterday hosted a seminar dedicated to the subject. Some of the themes analysed included the implications and the risks of the SSM, the sanctionary powers of the European Central Bank (ECB) and the injunction of the decisions by the ECB within the context of the SSM. The event was led by SÉRVULO partners Paulo Câmara, José Lobo Moutinho, Miguel Gorjão-Henriques and Manuel Magalhães.

During the event it was highlighted that the relationship between the ECB and national supervisory authorities will be critical for the success of the SSM, given how powers have been distributed, the Bank of Portugal maintaining supervision over the behaviour of and power to sanction members of the governing bodies of banks.