Banking law in the EU has experienced profound changes in the last few years, and one of the most radical was the introduction of the single supervisory mechanism (SSM). The decision of the EU Court of First Instance in the case of Landeskreditbank Baden-Württemberg Förderbank v. ECB is the first to tackle fundamental questions concerning the SSM. This article considers and develops various topics arising from the case, such as the architecture of the SSM, the division of powers between Supervisory Authorities, as well as the aim and scope of the SSM.