Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)

January 2009

Operational Issues

Provision of Swiss Franc liquidity to Eurosystem counterparties

On 15 January 2009 the Governing Council decided, in agreement with the Swiss National Bank (SNB), to continue to provide Swiss Franc (CHF) liquidity to Eurosystem counterparties via one-week EUR/CHF swap tenders until the end of April 2009 at the earliest. A joint press release was published on 16 January 2009 on the ECB’s and SNB’s websites.

Advice on legislation

ECB Opinion on Slovenian State guarantees

On 19 December 2008, at the request of the Slovenian Ministry of Finance, the Governing Council adopted an Opinion on criteria and conditions for granting a State guarantee (CON/2008/88). The Opinion is available on the ECB’s website.

ECB Opinion on Latvian monetary policy instruments

On 19 December 2008, at the request of Latvijas Banka, the Governing Council adopted an Opinion on monetary policy instruments (CON/2008/89). The Opinion is available on the ECB’s website.

ECB Opinion on Hungarian measures for the processing and distribution of banknotes and coins and against counterfeiting

On 22 December 2008, at the request of the Magyar Nemzeti Bank, the Governing Council adopted an Opinion on the processing and distribution of banknotes and coins and technical measures to prevent counterfeiting (CON/2008/90). The Opinion is available on the ECB’s website.

ECB Opinion on rules governing severance payments as applied to the Nationale Bank van België/Banque Nationale de Belgique

On 22 December 2008, at the request of the Belgian Ministry of Justice, the Governing Council adopted an Opinion on the application to the Nationale Bank van België/Banque Nationale de Belgique of the limitations related to severance payments of executive directors of listed companies (CON/2008/91). The Opinion is available on the ECB’s website.

ECB Opinion on Slovenian State loans

On 22 December 2008, at the request of the Slovenian Ministry of Finance, the Governing Council adopted an Opinion on criteria and conditions for granting State loans (CON/2008/92). The Opinion is available on the ECB’s website.

ECB Opinion on Community legislation on cross-border payments

On 6 January 2009, at the request of the Council of the European Union, the Governing Council adopted an Opinion on a new regulation on cross-border payments in the Community (CON/2009/1), whereby the Governing Council approved inter alia a list of harmonised codes that can be used for coding payments (above €50,000) to non-residents for balance of payments statistics as well as a common methodology to utilise this code list. The Opinion will be published in the Official Journal of the EU in due course and is available in English on the ECB’s website. Other language versions will be published on the ECB’s website in due course.

ECB Opinion on Latvian State guarantees

On 7 January 2009, at the request of the Latvian Ministry of Finance, the Governing Council adopted an Opinion on State guarantees for bank loans (CON/2009/2). The Opinion is available on the ECB’s website.

ECB Opinion on Slovenian State capital investments

On 8 January 2009, at the request of the Slovenian Ministry of Finance, the Governing Council adopted an Opinion on conditions for State capital investments and debt to equity swaps under the Law on public finance (CON/2009/3). The Opinion is available on the ECB’s website.

Statistics

Data for the analysis of public wages developments

On 19 December 2008 the Governing Council, having taken note of a report prepared by the Statistics Committee (STC) on the data to be used for the analysis of wage increases under the responsibility of euro area governments, expressed its support for regular estimates by national statistical institutes of general government employment, preferably expressed in full-time equivalents, as part of the quarterly national sector accounts.

ECB Regulation on statistics of financial vehicle corporations

On 19 December 2008 the Governing Council adopted a Regulation concerning statistics on the assets and liabilities of financial vehicle corporations engaged in securitisation transactions (ECB/2008/30). The Regulation will be published shortly in the Official Journal of the EU and on the ECB’s website.

ECB Guideline on monetary, financial institutions and markets statistics

On 19 December 2008 the Governing Council adopted a Guideline amending Guideline ECB/2007/9 on monetary, financial institutions and markets statistics (recast) (ECB/2008/31). The Guideline will be published in the Official Journal of the EU and on the ECB’s website in due course.

ECB Regulation on the balance sheet of the monetary financial institutions sector

On 19 December 2008 the Governing Council adopted a Regulation concerning the balance sheet of the monetary financial institutions sector (recast) (ECB/2008/32). The Regulation will be published in the Official Journal of the EU and on the ECB’s website in due course.

Corporate Governance

ECB Decision on matters relating to Národná banka Slovenska’s entry into the Eurosystem

On 31 December 2008 the Governing Council adopted a Decision on the paying-up of capital, transfer of foreign reserve assets and contributions by Národná banka Slovenska to the European Central Bank’s reserves and provisions (ECB/2008/33). The Decision will be published in the Official Journal of the EU and on the ECB’s website in due course.

Agreement on Národná banka Slovenska’s claim under Article 30.3 of the ESCB Statute

On 31 December 2008 the ECB and Národná banka Slovenska concluded an Agreement regarding the claim credited to Národná banka Slovenska by the ECB under Article 30.3 of the ESCB Statute. The Agreement will be published in the Official Journal of the EU and on the ECB’s website in due course.

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