On March 20, 2015, the Code of Conduct for the Members of the Supervisory Board of the European Central Bank was published in the Official Journal of the European Union. The code includes the basic principles that members of the board are to abide by, as well as rules on conflicts of interest, private financial transactions and wealth declarations. This follows on from the ECB’s new prudential supervisory role for banks in the Eurozone under the Single Supervisory Mechanism. The ECB assumed this new role in November 2014, and the SSM creates a new system of financial supervision, under which the ECB directly supervises 120 significant banking groups, and sets and monitors supervisory standards for other Eurozone banks by working more closely with national regulators. The code entered into force on March 21, 2015.

The code of conduct is available at: http://eur-lex.europa.eu/legalcontent/EN/ALL/?uri=uriserv:OJ.C_.2015.093.01.0002.01.ENG.