J. L. M. Campuzano (Spanish Banking Association) |So where do we go now? Do we stop extending banking regulation or do we keep including more conditions? We look to the US, but actually the debate already started a few months ago in Europe. Many experts (some from the ECB itself) warned about the complexity of the measures taken up to now and about the risk this implied for the sector’s stability. And for the financing of the economy.
ECB’s Single Supervisory Mechanism
Everything seems to indicate that the Bank of Spain inspectors, one of the biggest elitist groups in Spain, feared even by the most powerful bankers, are not currently in a good place. The blame lies in the fact that the ECB, or rather the Single Supervisory Mechanism (SSM), has taken over the function of banking supervision. This has left the inspectors somewhat bereft of functions, workload and influence.