As the deputy is aware, the SSM has ultimate responsibility for supervision of the banking sector. The SSM is comprised of the ECB and the national competent authorities (NCAs) of participating Member States. The Irish national competent authority is the Central Bank of Ireland. Since the 4th of November 2014, the SSM has been responsible for the prudential supervision of all credit institutions in the participating Member States, which includes Ireland. The Council Regulation article that the deputy refers to gives some details of supervisory activities to be carried out at an ECB level and activities that rest with the national competent authorities.
The SSM has wide-ranging supervisory and enforcement powers in relation to credit institutions. It is solely a matter for the SSM as to how these powers are exercised. If the deputy has information that these powers may have been exercised improperly or suspects a breach of relevant European Union law, these should be reported to the Central Bank of Ireland as the national competent authority. Further information can be found here: http://www.centralbank.ie/regulation/industry-sectors/credit-institutions/Pages/default.aspx.
Such a breach, so long as it does not relate to consumer protection or the implementation of anti-money laundering rules, can also be reported to the European Central Bank. Further information on reporting a breach can be found here: https://www.bankingsupervision.europa.eu/banking/breach/html/index.en.html.
