The ECB has published a list of significant and less significant credit institutions in accordance with the provisions of the Single Supervisory Mechanism (SSM). One of the main purposes of the SSM is to implement a shift in banking supervisory powers from national regulators to the ECB. Significant credit institutions are listed in Part A of the document and the relevant Irish institutions are Allied Irish Banks, Permanent TSB, Bank of Ireland and Ulster Bank. Such institutions will be supervised directly by the ECB from 4 November 2014. The less significant credit institutions will continue to be supervised by national competent authorities with oversight from the ECB.

Contributed by Ross Forde.

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