The operational efficiency of the ECB’s crisis management for banks

Author (Corporate)
Series Title
Series Details Number 02
Publication Date February 2018
ISBN 978-92-872-9126-4
ISSN 1977-5679
EC QJ-AB-17-027-EN-N
Content Type

Summary:

The European Central Bank (ECB) assumed responsibility for banking supervision in 2014, as part of the establishment of the Single Supervisory Mechanism. Its mission in this regard is to contribute to the safety and soundness of the banking system. There are about 120 banking groups in the euro area under the ECB’s direct remit, while other banking groups are supervised by national supervisors in close co-operation with the ECB.

This audit assessed the operational efficiency of the management of the ECB in relation to one specific supervisory task: crisis management. We find that the ECB has established a substantial framework for crisis management. However, there are some design flaws and signs of inefficient implementation that should be addressed.

We make a number of recommendations relating to making better use of recovery plan assessments and developing operational guidance for crisis management activities and enhance management reporting systems.

Source Link https://www.eca.europa.eu/en/Pages/DocItem.aspx?did=44556
Alternative sources
  • http://publications.europa.eu/webpub/eca/special-reports/ssm2-2-2018/en/
  • https://www.eca.europa.eu/Lists/ECADocuments/SR18_02/SR_SSM2_EN.pdf
Related Link(s)
News
EurActiv, 16/01/2018: EU auditors blame ECB for not providing evidence https://www.euractiv.com/section/banking-union/news/eu-auditors-blame-ecb-for-not-providing-evidence/

Official
ECA: News, 16/01/2018: Crisis management by the European Central Bank: a substantial framework but flaws remain https://www.eca.europa.eu/en/Pages/NewsItem.aspx?nid=9451

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