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The scope of the new supervisory mechanism. The Commission believes that it should cover all 6,000 banks in the eurozone... It would be inherently unstable to have two supervisory mechanisms for banks operating in the same market.
The participation of non-eurozone countries in the new supervisory scheme. I do not see any political problem with giving [non-eurozone] countries a full voice in shaping the decisions of the European supervisor, but creativity will be needed to find a legally sound and fair solution.
National supervisors’ role in the new system. In the current negotiations, we can still fine-tune the roles of the European and national supervisors, but ultimate authority must rest with the ECB.
Non-eurozone EU members that do not want to join the single supervisory mechanism. We need to find ways to preserve fully the influence of non-eurozone countries within the European Banking Authority.
Democratic accountability for the ECB’s new supervisory powers. A key question is how, in addition to giving an important role to the European Parliament, national parliaments can play their part in overseeing supervisory decisions.
Timing. Entry into force in January 2013 would bring about supervision by the ECB of banks that have received or requested public funding. Only in July 2013 would all banks of major systemic importance be subject to ECB supervision. The remaining banks would be subject to the new mechanism at the start of 2014.