With the SSM, a single supervisor for significant banks in the euro area and the participating Member States was newly established and became operative for the first time in November 2014 this was a major shift in the European supervisory architecture. The Single Supervisory Mechanism Regulation (SSMR) and the so-called Framework Regulation of the ECB (FR) are the legal instruments which established the institutional and operational skeleton for the SSM becoming operative back then. Banks (significant and such which might become significant), regulators (including the ECB), scholars and interested parties looking at the functioning of the SSM will be interested in this book.