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In order to carry out its supervisory tasks within the SSM effectively, the ECB is able to obtain all necessary information and conduct investigations as well as on-site inspections. These powers are set out in the SSM Regulation (Articles 10 to 13) whereas SSM Framework Regulation describes the most important procedural steps to be observed by the ECB when conducting its investigations (Articles 138 to 146). Before addressing in succession enquiries, general investigations and on-site inspections, let me emphasise some common features of ECB’s investigatory powers.
First, it must be pointed out that these investigatory powers of the ECB extend not only to “significant” but also to “less significant” credit institutions. Any credit institution in the Euro Area, and...
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