Abstract

European banking supervision System is presented as a "cascading legal order". The first step is financial supervision system under the EBA, at the second level the ECB is responsible for Single Supervisory Mechanism (SSM). The two authorities operate separatly but not on separate plans, with the risk of overlapping skills. Therefore, the need for coordination mechanisms arises, otherwise the risk of assignment conflicts will be affected. The competencies assigned to ECB give it a central role in European institutional set-up and re-propose the problem of the relationship, in modern legal systems, between democracy, politics and technocracy.