16 December 2013

Danièle Nouy appointed head of ECB supervisory board

It will carry out its supervisory tasks in a differentiated manner, in close cooperation with national supervisory authorities.

The regulations establishing the SSM were adopted on 15 October. The supervisory board will undertake the planning and execution of the supervisory tasks conferred on the ECB. It will be composed of the chairperson, a vice-chairperson, four representatives of the ECB and one representative of the national supervisory authority of each participating Member State. The board's draft decisions will be deemed adopted unless rejected by the ECB governing council.

The SSM will cover the euro area as well as non-eurozone Member States that choose to participate.

The ECB will take up its supervisory tasks on 3 November 2014, subject to operational arrangements. Mrs Nouy will take up her duties on 3 January; the supervisory board is expected to hold its first meeting in January.

The ECB's proposal for Mrs Nouy's appointment was approved by the European Parliament on 11 December.

Annex: Curriculum Vitae of Danièle Nouy

Ms Nouy was born in 1950; she is married and has two daughters. She joined the Banque de France in 1974. Between 1976 and 1985 she worked in the Banking Supervisory Commission (previous name of the French Banking Commission).

From 1985 to 1986 she was representative of the Banque de France in New York; after that, she spent one year in the Foreign Department of the Banque de France in charge of research work on Euromarkets. In 1987 Danièle Nouy returned back to the Banking Commission as Head of the Research Department and Policy Group (1987-90); Director of Financial Institutions Supervision (1990-94); Director, associate to the General Secretary of the Commission Bancaire, French member of the Basel Committee on Banking Supervision; Chairman of Basel Committee subgroup in charge of derivatives (1993-96).

Between 1996 and 1998 she was appointed Deputy Secretary General of the Basel Committee on Banking Supervision; and between 1998 to 2003 she was Secretary of the same Committee. From 2003 to 2010 she was Secretary General of the French Banking Commission (and Chair of the Committee of European Banking Supervisors – CEBS, between January 2006 and January 2008). From March 2010, she was Secretary General of the Autorité de Contrôle Prudentiel et de Résolution.

Press release

Resolution EP plenary on appointment of the Chair of the Supervisory Board

Commissioner Barnier said: "I welcome the appointment by the Member States of Danièle Nouy as first Chairperson of the Supervisory Board of the Single Supervisory Mechanism (SSM). Her nomination was approved by the European Parliament last week."

"As Chair of the Supervisory Board of the SSM, Danièle Nouy will play a central role in the Banking Union. She is an excellent choice for the tough job ahead. Building a brand new structure to supervise banks in Europe is a major challenge and Danièle Nouy has all the necessary skills and experience to rise to that challenge, having experience of national banking supervision and European and international coordination at the highest levels.

I am confident that, with Danièle Nouy at the helm, the SSM will develop a truly European supervisory culture, bring together different supervisors' best practices, and address head on any problem with banks' prudential soundness and risks to financial stability. Her role as the new Chairperson also brings valuable gender diversity to the board."

Statement with background info

ECB President Mario Draghi said: “The appointment of the Supervisory Board Chair marks an important milestone as the ECB establishes a single supervisory mechanism for banks in the euro area. Mrs. Nouy brings almost 40 years of experience in banking supervision. Her appointment will allow the Supervisory Board to take up its work soon and put in place all organisational requirements with the aim of assuming our supervisory responsibilities starting on 4 November, 2014.”

Press release

© European Council