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Parliamentary questions
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25 March 2019
Answer given by Vice-President Dombrovskis on behalf of the European Commission
Question reference: E-000246/2019

The Single Supervisory Mechanism (SSM) established pursuant to Regulation (EU) No 1024/2013, confers tasks in the supervision of credit institutions to the European Central Bank (ECB), and introduces specific arrangements to ensure democratic accountability of the ECB for the tasks conferred on it. The Commission assessed first experience with the SSM and these arrangements in its report to the European Parliament and the Council on the Single Supervisory Mechanism of 11 October 2017 (COM(2017) 591 final). The Commission recalled in the report that in accordance with the Treaty on the Functioning of the European Union (TFEU), the ECB is subject to an obligation to provide the European Court of Auditors (ECA) with any document or information necessary for the ECA to carry out the task corresponding to its legal mandate. As set out in the report, the Commission would welcome if the ECB and the ECA conclude an interinstitutional agreement to specify the modalities of information exchange in view of permitting the ECA access to all information necessary for performing its audit mandate.

The Commission does not currently have any plan to amend the rules quoted by the Honourable Member. A number of these acts are subject to amendment by the European Parliament and the Council of Ministers as part of the Banking Package.

Last updated: 3 April 2019Legal notice