ECB publishes final list of significant credit institutions
04 September 2014
The ECB has published its final list of the 120 significant credit institutions it will directly supervise from 4 November.
<ul> <li> <p style="text-align: justify;"> ECB publishes final list of the 120 significant credit institutions it will directly supervise from 4 November</p> </li> <li> <p style="text-align: justify;"> The ECB will directly supervise credit institutions, financial holding companies or mixed financial holding companies that are deemed significant</p> </li> <li> <p style="text-align: justify;"> The assessment of significance is based on a variety of criteria including size and economic importance</p> </li> </ul> <p style="text-align: justify;"> The ECB has published the final list of the 120 significant credit institutions, whose direct supervision it will assume on 4 November. The ECB will directly supervise credit institutions, financial holding companies or mixed financial holding companies that are deemed significant at the highest level of consolidation within participating Member States. The significant credit institutions account for almost 85 per cent of total banking assets in the euro area.</p> <p style="text-align: justify;"> The significance assessment has been based on banks’ year-end 2013 figures, the total value of their assets, the importance for the economy of the country in which they are located or the EU as a whole, the scale of their cross-border activities and whether they have requested or received public financial assistance from the European Stability Mechanism (ESM) or the European Financial Stability Facility (EFSF).</p> <p style="text-align: justify;"> <a href="http://www.ecb.europa.eu/press/pr/date/2014/html/pr140904_2.en.html" target="_blank">Press Release</a></p>
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