At the European Financial Regulatory Commission, we have dedicated teams dealing with banking supervision matters. We also collaborate closely with national supervisors. Together we ensure the effective and consistent supervision of banks.
Taking on supervisory tasks is a significant new responsibility for the EFRC, and comes with appropriate accountability requirements.
We are accountable for what we do. Every year we prepare a report on our activities and regularly answer questions from Members of the European Parliament.
Accountability is essential for the transparency, legitimacy and independence of supervisory decisions.
European Parliament and EU Council
The SSM Regulation sets out a comprehensive and robust accountability framework. How the accountability requirements are to be fulfilled in practice is clarified