The role of the European Central Bank in ensuring the financial stability of the EU
... included two specific legal obligations. Firstly, the creation of the Single Supervisory Mechanism (SSM) and the centralized supervision ... ... Secondly, the direct recapitalization of banks from the European Financial Stability Facility (EFSF), established under the European ... ... Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment ... ... but also have broader consequences. Standard and Poor’s Rating Services, 2013. URL:
http://ec.europa.eu/finance/consultations/2013/bankingstructural-reform/docs/contributions/non-regis....
