The Single Supervisory Mechanism (SSM) is one of the three main pillars of the European Banking Union (EBA), alongside the Single Resolution Mechanism (SRM) and the Common Deposit Guarantee Scheme. Its purpose is to centralize in the European Central Bank (ECB) the prudential supervision of credit institutions. The basis of the SSM is the transfer at European level of specific, key supervisory tasks to the ECB, which is empowered to exercise prudential supervision in the banking sector in all Member…