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SSM

English translation: Single Supervisory Mechanism

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Italian term or phrase:SSM
English translation:Single Supervisory Mechanism
Entered by: Maria Burnett
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17:34 Nov 7, 2013
Italian to English translations [PRO]
Bus/Financial - Finance (general) / study on banks
Italian term or phrase: SSM
Il lancio effettivo dell’assessment è previsto per il prossimo Novembre con le attività di raccolta dei dati e si concluderà dopo circa 1 anno (Ottobre/Novembre 2014) quando i risultati e le raccomandazioni saranno pubblicate (in corrispondenza con l’entrata in vigore del SSM).

I found an SSM on Proz, defined as risk assessment. is that correct?
Maria Burnett
United States
Local time: 02:51
Single Supervisory Mechanism
Explanation:
In Italian Sistema unico di vigilanza, see:
http://www.consilium.europa.eu/homepage/highlights/council-a...
The single supervisory mechanism
The SSM is designed to strengthen supervision of the financial services sector.
It will detect weaknesses early on and make sure action is taken to strengthen ailing financial institutions. It is also designed to help break the connection between the member states' budgets and some of their banks.

A functioning SSM is a precondition for the European Stability Mechanism (ESM) - the euro area's permanent bailout fund - to recapitalise banks directly, as agreed by the euro area leaders in June 2012.
The ministers were also updated on the progress on other dossiers relating to the banking union under construction, namely the bank recovery and resolution directive and the proposal on the Single Resolution Mechanism.
At an informal breakfast before the Council meeting the ministers discussed backstop arrangements for banks in the context of forthcoming asset quality review and stress test exercises and the proposed single resolution mechanism.

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Note added at 13 hrs (2013-11-08 06:39:48 GMT)
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The same article in Italian:
http://www.consilium.europa.eu/homepage/highlights/council-a...
and it's meccanismo of course!
Selected response from:

missdutch
Netherlands
Local time: 08:51
Grading comment
4 KudoZ points were awarded for this answer

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Summary of answers provided
3Single Supervisory Mechanism
missdutch


  

Answers


30 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
Single Supervisory Mechanism


Explanation:
In Italian Sistema unico di vigilanza, see:
http://www.consilium.europa.eu/homepage/highlights/council-a...
The single supervisory mechanism
The SSM is designed to strengthen supervision of the financial services sector.
It will detect weaknesses early on and make sure action is taken to strengthen ailing financial institutions. It is also designed to help break the connection between the member states' budgets and some of their banks.

A functioning SSM is a precondition for the European Stability Mechanism (ESM) - the euro area's permanent bailout fund - to recapitalise banks directly, as agreed by the euro area leaders in June 2012.
The ministers were also updated on the progress on other dossiers relating to the banking union under construction, namely the bank recovery and resolution directive and the proposal on the Single Resolution Mechanism.
At an informal breakfast before the Council meeting the ministers discussed backstop arrangements for banks in the context of forthcoming asset quality review and stress test exercises and the proposed single resolution mechanism.

--------------------------------------------------
Note added at 13 hrs (2013-11-08 06:39:48 GMT)
--------------------------------------------------

The same article in Italian:
http://www.consilium.europa.eu/homepage/highlights/council-a...
and it's meccanismo of course!

missdutch
Netherlands
Local time: 08:51
Native speaker of: Native in ItalianItalian
PRO pts in category: 4
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