Within the framework of the SSM, the Supervisory Board
is the body tasked with planning and carrying out the ECB's supervisory tasks. It comprises a Chair, a Vice-Chair, four additional ECB representatives and one representative of each national authority.
The Supervisory Board approves draft decisions, which are binding for the natural or legal persons concerned. It also analyses the main developments in the banking sector and takes decisions relating to internal organisation and supervisory policy and methodology.
There is also a Steering Committee, comprising the Chair and Vice-Chair of the Supervisory Board, one ECB representative, and five representatives of the NCAs. In accordance with the legal framework, this Committee is tasked with supporting the activities of the Supervisory Board and preparing the Board’s meetings.
The draft legal decisions approved by the Supervisory Board are adopted by the ECB Governing Council under the “non-objection” procedure, whereby the Council cannot modify the draft decisions submitted by the Supervisory Board, but can send them back for reconsideration.
Any person or legal entity affected by a decision may request an internal review by the Administrative Board of Review of its compliance with the legal framework. In these reviews, the Board draws up a non-binding opinion addressed to the Supervisory Board for its consideration. The Administrative Board of Review comprises five independent members.