At the heart of SSM is close co-operation between the ECB and the national competent authorities and staff in the Bank work closely with our colleagues in Frankfurt. This ensures that there will be a level playing field for the supervision of banks across the Banking Union regardless of country of authorisation.
For insurance, the European Insurance and Occupational Pensions Authority (EIOPA) aims to strengthen oversight of cross-border groups and promote coordination in the European Union supervisory response. It also ensures greater harmonisation and coherent application of rules, and better protection of consumers. For securities markets, the European Securities and Markets Authority (ESMA) mission is to enhance investor protection and promote stable and orderly markets.