The European Central Bank (ECB) welcomes the European Commission’s proposal, which was drawn up in line with the statement issued at the euro area summit of 29 June 2012, for a Council Regulation establishing a single supervisory mechanism involving the ECB.
The proposal, which the ECB’s Governing Council will formally assess in detail in a legal opinion, is an important step towards laying the foundations of a financial market union with the view to ensuring financial stability in the euro area and the European Union.
