On November 7, the European Central Bank (ECB) updated its webpage on building a banking union to reflect the coming into force of the inter-institutional agreement (IIA). The ECB has agreed with the European Parliament on cooperation on procedures related to the single supervisory mechanism (SSM). The ECB also published a copy of the IIA, which will also be published in the Official Journal of the EU.

The UK Prime Minister has stated that the UK will not participate in the SSM. ECB webpage. IIA.