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


August 2009

External communication

Monthly report on the Eurosystem covered bond purchase programme

In order to provide market participants and the general public with a monthly update on the implementation of the covered bond purchase programme and on the covered bond market, the Governing Council approved the first “Monthly report on the Eurosystem covered bond purchase programme” on 6 August 2009. This report is available on the ECB’s website.

Operational issues

ECB Decision on the administration of the borrowing-and-lending operations

On 19 June 2009 the General Council adopted a Decision amending Decision ECB/2003/14 concerning the administration of the borrowing-and-lending operations concluded by the European Community under the medium-term financial assistance facility (ECB/2009/17). The Decision was published in the Official Journal of the EU on 22 July 2009 and is also available on the ECB’s website.

Acceptance of ICAP S.A. and Lince SpA as ECAF credit assessment systems

On 30 July 2009 the Governing Council accepted two business information providers, ICAP S.A. (Greece) and Lince SpA (Italy), as Rating Tool sources for the purpose of the Eurosystem Credit Assessment Framework (ECAF). The updated list of accepted ECAF systems is available on the ECB’s website.

Payment systems and market infrastructure

Assessment of the relayed link between securities settlement systems in the euro area

On 17 July 2009 the Governing Council approved a new relayed link from Clearstream Banking AG Frankfurt (CBF) via Clearstream Banking S.A. Luxembourg (CBL) to the Slovenian Central Securities Clearing Corporation (Centralna klirinško depotna družba – KDD), as well as the underlying direct link from CBL to KDD, as eligible for use in the collateralisation of Eurosystem credit operations. More detailed information can be found in a press release published on the ECB’s website on 22 July 2009.

Oversight frameworks for credit transfer and direct debit schemes

On 6 August 2009 the Governing Council decided to launch a public consultation on the draft oversight frameworks for credit transfer and direct debits schemes for a minimum period of three months. Furthermore, it decided that the ECB and the respective national central banks would serve as points of contact for national schemes and other participants in their countries, as well as be ready to provide further information or discuss issues regarding the oversight frameworks.

Financial stability and supervision

Eurosystem contribution to the Commission’s consultation on Deposit-Guarantee Schemes

On 6 August 2009 the Governing Council approved a Eurosystem contribution to the Commission’s consultation on the Review of Directive 94/19/EC on Deposit-Guarantee Schemes. This contribution will be published on the ECB’s website after its transmission to the Commission.

Advice on legislation

ECB Opinion on the procedure to change the official litas exchange rate in Lithuania

On 20 July 2009, at the request of the Speaker of the Seimas (Parliament) of the Republic of Lithuania, the Governing Council adopted an Opinion on the procedure to change the official litas exchange rate (CON/2009/61). The Opinion is available on the ECB’s website.

ECB Opinion on Spanish legislation on bank restructuring and own funds

On 22 July 2009, at the request of the Spanish State Secretary for Economic Affairs, the Governing Council adopted an Opinion on bank restructuring and reinforcement of credit institutions’ own funds (CON/2009/62). The Opinion is available on the ECB’s website.

ECB Opinion on an Italian provision on the taxation of the Banca d’Italia’s gold reserves

On 24 July 2009, at the request of the Italian Minister for Economic Affairs and Finance, the Governing Council adopted an Opinion on an amended draft legislative provision on the taxation of the Banca d’Italia’s gold reserves (CON/2009/63). The Opinion is available on the ECB’s website.

ECB Opinion on public access to information on officials’ wealth in Slovenia

On 27 July 2009, at the request of the President of the Slovenian Parliament, the Governing Council adopted an Opinion on public access to information on officials’ wealth (CON/2009/64). The Opinion is available on the ECB’s website.

Statistics

ECB Guideline on government finance statistics

On 31 July 2009 the Governing Council adopted a Guideline on government finance statistics (recast) (ECB/2009/20). The Guideline will be published shortly in the Official Journal of the EU and on the ECB’s website.

International and European cooperation

Extension of the Eurosystem’s cooperation programme with the Central Bank of the Russian Federation

On 21 July 2009 the Governing Council approved a three-month extension, until the end of March 2011, of the cooperation programme in the areas of banking supervision and internal audit that was launched by the Eurosystem and the Central Bank of the Russian Federation on 20 March 2008.

Corporate governance

ECB Guideline on the legal framework for accounting and financial reporting in the ESCB

On 17 July 2009 the Governing Council adopted a Guideline amending Guideline ECB/2006/16 on the legal framework for accounting and financial reporting in the European System of Central Banks (ECB/2009/18). The Guideline was published in the Official Journal of the EU on 4 August 2009 and is also available on the ECB’s website.

ECB Decision on the annual accounts of the ECB

On 17 July 2009 the Governing Council adopted a Decision amending Decision ECB/2006/17 on the annual accounts of the European Central Bank (ECB/2009/19). The Decision was published in the Official Journal of the EU on 4 August 2009 and is also available on the ECB’s website.

Chair of the Payment and Settlement Systems Committee

On 6 August 2009 the Governing Council appointed Ms Daniela Russo, who was appointed Director General Payments and Market Infrastructure at the ECB with effect from 15 August 2009, as chair of the Payment and Settlement Systems Committee (PSSC) with effect from 1 September 2009. Ms Russo’s term as chair of the PSSC will expire on 31 August 2010 in order to coincide with the expiry of the terms of office of all Eurosystem/ESCB Committee chairs and the Budget Committee chair, who were (re)appointed for a three-year period by the Governing Council on 19 July 2007.

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