René Smits Appointed in the ECB Administrative Board of Review
Professor René Smits was appointed as an alternate member of the European Central Bank’s (ECB) Administrative Board of Review. The list of members appointed for the Administrative Board of Review, also referred to as ABoR, was published on September 9, 2014.
The ABoR consists of five members and two alternates. This board will review
supervisory decisions made by the ECB regarding the prudential practice of
credit institutions. As stated, the ECB will begin exercising these supervisory
powers as of November 4, 2014.
Commercial banks may choose to apply to the supervisory decisions of the ECB’s ABoR first or they can appeal directly to the European Court of Justice.