ECA report on SSM supports IPSO claim

European Court of Auditors’ special report on the SSM validates IPSO’s claim of ECB understaffing of 27 March 2015

The European Court of Auditors (ECA) issued a special report on the new EU banking supervisory system.

In its press release the ECA states:

“This was the ECA’s first audit of the ECB’s operational efficiency with respect to the SSM, and the audit findings are mixed, say the auditors. They found that in setting up the SSM the ECB has not analysed supervisory staffing needs in the necessary detail, and that current staffing levels are insufficient.”
IPSO’s alerts to the ECB’s decision making bodies on ECB workload culminated in an open letter on 27 March 2015.