The European Central Bank (ECB) today launches a public consultation on a draft guideline and recommendation concerning the exercise of options and discretions (O&Ds) available in Union law for banks it does not directly supervise (less significant institutions or LSIs). The aim is to harmonise the way banks are supervised by national competent authorities (NCAs) in the 19 countries of the Single Supervisory Mechanism (SSM) and thereby ensure a level playing field and the smooth functioning of the euro area banking system as a whole.

Click here to access the full press release.

Click here to access the Public consultation on the exercise of options and discretions by NCAs in relation to less significant institutions.

Click here to access the ECB Guide on options and discretions available in Union law.