meta_id 3398595

On August 2026, the European Central Bank (ECB) published an updated compilation of Union legal acts on banking supervision, titled "Legal Framework for Banking Supervision Volume II." This comprehensive document consolidates the regulatory framework governing the ECB's supervisory functions since the establishment of the Single Supervisory Mechanism (SSM) in 2014. The publication covers seven principal areas: separation of monetary policy and supervisory functions; accountability frameworks; options and discretions available under Union law; delegation of supervisory powers; reporting requirements; supervisory fees; and sanctions. The compilation includes Council Regulation (EU) No 1024/2013, which confers specific prudential supervision tasks on the ECB, alongside numerous implementing regulations, guidelines, and decisions adopted by the ECB's Governing Council and Executive Board. Key instruments address the organizational separation of supervisory staff from monetary policy personnel, procedures for establishing close cooperation with non-euro area Member States, criteria for determining significant versus less significant supervised entities, and detailed requirements for supervisory reporting by credit institutions. The framework also establishes procedures for delegating decision-making powers to ECB work unit heads, covering decisions on own funds classification, fit and proper assessments, passporting, internal models, and supervisory fees. The ECB noted that this digital compilation serves as a reference tool for supervisors, legal practitioners, and members of the public. The publication reflects amendments and updates to the legal framework through August 2026 and complements Volume I, which contains foundational SSM regulations, and Volume III, which addresses internal organization and governance. The ECB emphasized that while the compilation provides comprehensive coverage of key supervisory legal acts, it does not constitute an exhaustive collection of all Union law applicable to the ECB's supervisory activities.