Daniele Nouy, Chair of the Single Supervisory Board, discussed how Article 21 of the SSM Regulation (Council Regulation (EU) No 1024/2013 of 15 October 2013), which sets out the rules for interactions between the European Central Bank (ECB) and the national parliaments, does not contain a derogation from the professional secrecy requirements applicable to the information received or created in the conduct of the supervisory tasks conferred on the ECB.

Because of this, the response the ECB Banking Supervision may offer to questions posed by national parliaments needs to respect these professional secrecy requirements. However, within the boundaries of the applicable confidentiality rules, Mr. Nouy outlined some considerations that proved useful for a better understanding of the ECB’s supervisory role.