EP has adopted its reports on the Regulations aimed at establishing an SSM for the Eurozone. EP has stressed the need to subject ECB to democratic scrutiny. National Parliaments and EP should be entitled to hold hearings with representatives of ECB’s Supervisory Board. EP finds the enhanced accountability to national Parliaments is appropriate given the impact that supervisory measures may have on public finances, credit institutions, their customers and employees, and the markets of Member States. MEPs should also have the power to hold inquiries into alleged failures of ECB’s Supervisory Board, and approval of its Chair should be requested from EP. The reports also introduce a Board of Appeal against ECB’s decisions and equal voting rights for all participating countries, including non-Eurozone ones, in the ECB Supervisory Board. (Source: Report on Council Regulation on ECB Supervisory Powers, Report on Regulation on ECB-EBA Interaction and Press Release)