The Financial Secretary to Treasury has presented the Government’s position on the Single Supervisory Mechanism (SSM) to the Commons European Scrutiny Committee. He said that nominating the European Central Bank (ECB) as single supervisor for Eurozone Member States and keeping EBA at the helm of the Single Market is in line with the Government’s position. The UK has the right to veto the Council Regulation conferring powers on the ECB. On the Regulation on changes to EBA’s voting arrangements, the Government will continue to seek, for those non-Eurozone Member States that decide not to opt in the SSM, protection from the risk of ECB dominating EBA decisions or not being legally bound by EBA’s mediation. (Source: 14th Report of Session. House of Commons European Scrutiny Committee)