contents table Lexparency.org
Single Supervisory Mechanism (SSM)
Article 2

Article 2 — Definitions

For the purposes of this Regulation, the following definitions shall apply:

  1. participating Member State means a Member State whose currency is the euro or a Member State whose currency is not the euro which has established a close cooperation in accordance with Article 7;
  2. national competent authority means a national competent authority designated by a participating Member State in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms(1) and Directive 2013/36/EU;
  3. credit institution means a credit institution as defined in point 1 of Article 4(1) of Regulation (EU) No 575/2013;
  4. financial holding company means a financial holding company as defined in point 20 of Article 4(1) of Regulation (EU) No 575/2013;
  5. mixed financial holding company means a mixed financial holding company as defined in point 15 of Article 2 of Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate(2);
  6. financial conglomerate means a financial conglomerate as defined in point 14 of Article 2 of Directive 2002/87/EC;
  7. national designated authority means a designated authority of a participating Member State, within the meaning of the relevant Union law;
  8. qualifying holding means a qualifying holding as defined in point 36 of Article 4(1) of Regulation (EU) No 575/2013;
  9. Single supervisory mechanism (SSM) means the system of financial supervision composed by the ECB and national competent authorities of participating Member States as described in Article 6 of this Regulation.