The European central bank is part of the first pillar of bank union.
In this article we will detail the tasks assigned to european central bank.
European central bank supervise significant banks.
The national competent authorithy supervise less significant banks.
What is the supervisory power of European central bank:
*The European Central Bank supervise significant banks,
*The European central Bank issue recommendation and guidelines, *provide overview on complex financial institution,
*Implementation of coherent prudential supervision,
*Ensure application of the single rulebook,
*No more national champions,
*No more supervision forbearance,
*Ensure financial stability,
*grant authorization to credit institution,
*withdraw the authorisation to credit institution.
*control aquisition and disposal of qualifying holdings.