Under the current EU budget (formally known as the Multiannual Financial Framework or MFF) for the period 2014-2020, the 6 CEE EU Member States (that are not members of the euro area) are allocated € billion or 45.4% of the total amount earmarked for the EU’s two structural funds (European Regional Development Fund ERDF and the European Social Fund - ESF), and the Cohesion Fund.
In practice, the SSM operates through joint supervisory teams (JSTs), which are led by ECB staff but also include staff from the national supervisor – in Ireland, we are the national competent authority for supervision of not only banks but also insurance firms, investment firms and a broad range of other financial intermediaries.