The Presidency has addressed the Council with a summary of the questions that remain open to debate on the Single Supervisory Mechanism (SSM). These are:

  • the equitable treatment of Eurozone and non-Eurozone Member States. This concerns both the features of the SSM opt-in for non-Eurozone countries and changes to voting modalities in the EBA;
  • the distribution of tasks between the European Central Bank (ECB) and national competent supervisory authorities; and
  • the phasing in of the SSM.

The Presidency is aiming for agreement of the proposals in Council at the next Economic and Financial Affairs Council (ECOFIN) meeting, on 4 December. (Source: SSM Orientation Debate)