This new commentary analyses, article by article, the two most important regulations on the European banking union: firstly, the Single Supervisory Mechanism with the ECB as the single supervisory authority for major banking institutions; and secondly, the Single Resolution Mechanism with the Single Resolution Fund as the centralized decision-making body in the eurozone.

The Single Supervisory Mechanism (SSM) will be considered as a significant category in the Eurozone as of November 2014. Thus, the European banking architecture is fundamentally changed and adapted to the requirements of a European banking union. Contents: - Purpose of the SSM and Basic Functioning - Some Fundamental Questions. - Governance Structure and Decision Making - The Applicable Nouns and Procedural Law - Determining the Significance of Credit Institutions and the Endowment of the ECB - Tasks and Powers Relating to all Credit Institutions - Tasks and Powers Relating to the On-Going Supervision of Significant Credit Institutions - Enforcement and Sanctioning Powers - Close Cooperation - Supervisory Fees - Contesting ECB supervisory decisions in front of the ABoR - Contesting ECB - Non-contractual liability of the ECB for ECB supervisory decisions - SSM Regulation (SWOP) and the so-called Framework Regulation of the European Central Bank (FR) are the legal basis for the institutional and operational architecture of the SSM.

This book sets out precisely the supervisory response at both the national and European level. All sectors have been impacted by COVID-19 and the ensuing Corona Crisis, not least the banking sector. Pivoting to crisis management, banking supervision has had to change very quickly. It also looks to the future, setting out those challenges that will remain and emerge as the crisis continues.