What is happening?
In January 2018, the European Court of Auditors (ECA) released a report that was full of praise for much of the work done by the European Central Bank (ECB) in terms of dealing with troubled banks. But it raised a number of concerns over the way the central bank designates a bank as failing or likely to fail, particularly in the early stages. This is managed via the Single Supervisory Mechanism (SSM) led by the ECB, and includes member state competent authorities.
