Banking

Národná banka Slovenska as part of the EU's banking union

In June 2012 the European Council adopted measures to prevent an escalation of the euro area's economic crisis. The most significant change in regard to bank regulation and supervision was the establishment of a 'banking union' project based on the following three pillars:

The Single Supervisory Mechanism is a new system of financial supervision that entered into operation on 4 November 2014. It comprises the European Central Bank and the national competent authorities (NCAs) of mainly euro area countries. In Slovakia, the NCA is Národná banka Slovenska.

For the purposes of the SSM banks (credit institutions) are categorised as:

  • significant - subject to direct supervision by the ECB in cooperation with NCAs; or
  • less significant - remaining subject to supervision by the respective NCA.

The criteria used to assess whether a credit institution falls within the significant or less significant category are set out in the applicable EU legislation.

The ECB's official website for banking supervision within the Single Supervisory Mechanism is: bankingsupervision.europa.eu

The ECB decides on granting and withdrawing banking licences for all banks, and assesses the acquisition of qualifying holdings in banks. The ECB also assesses the suitability of members of the management bodies of significant banks. ECB published on its official website information about the stated proceedings: https://www.bankingsupervision.europa.eu/banking/tasks/authorisation/html/index.en.html

Direct supervision by NBS

Banks established in Slovakia and classified as 'less significant' remain under the direct supervision of NBS.

Lists of entities

Lists of banks and other financial institutions can be found in the section Lists of entities.

Legislation

Acts, decrees, recommendations and methodological guidelines applicable to banks and branches of foreign banks can be found in the section Legislation.