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Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (Single Supervisory Mechanism - SSM Regulation)RecitalsChapter I Subject matter and definitions (arts. 1-2)Article 1 Subject matter and scopeArticle 2 DefinitionsChapter II Cooperation and tasks (arts. 3-8)Article 3 CooperationArticle 4 Tasks conferred on the ECBArticle 5 Macroprudential tasks and toolsArticle 6 Cooperation within the SSMArticle 7 Close cooperation with the competent authorities of participating Member States whose currency is not the euroArticle 8 International relationsChapter III Powers of the ECB (arts. 9-18)Article 9 Supervisory and investigatory powersSection 1 Investigatory powers (arts. 10-13)Article 10 Request for informationArticle 11 General investigationsArticle 12 On-site inspectionsArticle 13 Authorisation by a judicial authoritySection 2 Specific supervisory powers (arts. 14-18)Article 14 AuthorisationArticle 15 Assessment of acquisitions of qualifying holdingsArticle 16 Supervisory powersArticle 17 Powers of host authorities and cooperation on supervision on a consolidated basisArticle 18 Administrative penaltiesChapter IV Organisational principles (arts. 19-31)Article 19 IndependenceArticle 20 Accountability and reportingArticle 21 National parliamentsArticle 22 Due process for adopting supervisory decisionsArticle 23 Reporting of violationsArticle 24 Administrative Board of ReviewArticle 25 Separation from monetary policy functionArticle 26 Supervisory boardArticle 27 Professional secrecy and exchange of informationArticle 28 ResourcesArticle 29 Budget and annual accountsArticle 30 Supervisory feesArticle 31 Staff and staff exchangeChapter V General and final provisions (arts. 32-34)Article 32 ReviewArticle 33 Transitional provisionsArticle 34 Entry into forceDone at
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AI Summary of Article 2 Definitions

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Version status: Entered into force | Document consolidation status: No known changes
Version date: 3 November 2013 - onwards
Version 2 of 2

Article 2 Definitions

For the purposes of this Regulation, the following definitions shall apply:

(1) "participating Member State" means a Member State whose currency is the euro or a Member State whose currency is not the euro which has established a close cooperation in accordance with Article 7;

(2) "national competent authority" means a national competent authority designated by a participating Member State in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms [OJ L 176, 27.6.2013, p. 1.] and Directive 2013/36/EU;

(3) "credit institution" means a credit institution as defined in point 1 of Article 4(1) of Regulation (EU) No 575/2013;

(4) "financial holding company" means a financial holding company as defined in point 20 of Article 4(1) of Regulation (EU) No 575/2013;

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