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  2. Legislation (EU)
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  4. 2014
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  1. Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014 establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities (SSM Framework Regulation) (ECB/2014/17)
  2. Part IV Determining the status of a supervised entity as significant or less significant (arts. 39-72)
  3. Title 2 Procedure for classifying supervised entities as significant supervised entities (arts. 43-49)
  4. Chapter 2 Beginning and end of direct supervision by the ECB (arts. 45-48)
  5. Article 45 Beginning of direct supervision by the ECB
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Version status: Entered into force | Document consolidation status: No known changes
Version date: 15 May 2014 - onwards
  Version 2 of 2    

Article 45 Beginning of direct supervision by the ECB

1. The ECB shall specify in an ECB decision the date on which it is to assume direct supervision of a supervised entity or a supervised group that has been classified as a significant supervised entity or significant supervised group. That ECB decision may be the same decision as the one referred to in Article 44(2). Subject to paragraph 2 the ECB shall notify that ECB decision to each supervised entity concerned, at least one month prior to the date on which it will assume direct supervision.

2. If the ECB assumes direct supervision of a supervised entity or a supervised group either on the basis of a request for or receipt of direct public financial assistance from the ESM, the ECB shall notify the ECB decision referred to in paragraph 1 to each supervised entity concerned in due time, at least one week prior to the date on which it will assume direct supervision.

3. The ECB shall provide copies of the ECB decisions referred to in paragraph 1 to the relevant NCAs.

4. The ECB shall as

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