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

April 2014

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TRANSMISSION EMBARGO until 3 p.m. CET on 17 April 2014

Payment systems and market infrastructure

Report on “Card payments in Europe – a renewed focus on SEPA for cards”

On 4 April 2014 the Governing Council approved a report on card payments in Europe, prepared by the Payment and Settlement Systems Committee, and authorised its publication on the ECB’s website. The report provides a comprehensive overview of the status of card payments in Europe. The report, together with a press release, will be published shortly on the ECB’s website.

Advice on legislation

ECB Opinion on the conflict of interest rules for senior officials of the Banco de España

On 20 March 2014 the Governing Council adopted Opinion CON/2014/22 at the request of the Banco de España.

ECB Opinion on the measurement of credit and country risk of bank groups in Austria

On 27 March 2014 the Governing Council adopted Opinion CON/2014/23 at the request of the Oesterreichische Nationalbank.

ECB Opinion on crisis management in Lithuania

On 2 April 2014 the Governing Council adopted Opinion CON/2014/24 at the request of the Office of the Lithuanian Government.

ECB Opinion on the independence of Banka Slovenije

On 11 April 2014 the Governing Council adopted Opinion CON/2014/25 at the request of the President of the Slovenian Parliament.

ECB Opinion on operations relating to government securities in Romania

On 14 April 2014 the Governing Council adopted Opinion CON/2014/26 at the request of the Banca Naţională a României.

Statistics

ECB Decision and ECB Recommendation on the organisation of preparatory measures for the collection of granular credit data by the European System of Central Banks

On 24 February 2014 the Governing Council adopted Decision ECB/2014/6 on the organisation of preparatory measures for the collection of granular credit data by the European System of Central Banks and Recommendation ECB/2014/7 on the organisation of preparatory measures for the collection of granular credit data by the European System of Central Banks. These legal acts relate to preparatory measures which are necessary to establish in a stepwise manner a long-term framework for the collection of granular credit data, i.e. about the credit exposures of credit institutions or other loan-providing financial institutions vis-à-vis borrowers, provided on a borrower-by-borrower basis or a loan-by-loan basis, based on harmonised ECB statistical reporting requirements. Both legal acts will be published in the Official Journal of the European Union and are available on the ECB’s website.

2013 statistical quality reports

On 20 March 2014 the Governing Council approved the annual assessment of the availability and quality of the various kinds of statistics that are compiled by the Eurosystem on the basis of an ECB legal act. It also authorised the publication of the 2013 quality reports on euro area balance of payments and international investment position statistics, and on euro area quarterly financial accounts. The reports, produced in accordance with the ECB’s Statistics Quality Framework, will be published shortly on the ECB’s website.

ECB Recommendation for a Council Regulation amending Regulation (EC) No 2533/98 concerning the collection of statistical information by the European Central Bank

On 21 March 2014 the Governing Council adopted Recommendation ECB/2014/13 to the Council of the European Union for a Council Regulation amending Regulation (EC) No 2533/98 concerning the collection of statistical information by the European Central Bank. The Recommendation caters for the need to use statistical information for the performance of supervision functions by the ECB. The Recommendation will be published in the Official Journal of the European Union and on the ECB’s website.

ECB Recommendation concerning the common rules and minimum standards to protect the confidentiality of the statistical information collected by the European Central Bank assisted by the national central banks

On 27 March 2014 the Governing Council adopted Recommendation ECB/2014/14 concerning the common rules and minimum standards to protect the confidentiality of the statistical information collected by the European Central Bank assisted by the national central banks (NCBs). The Recommendation caters for the increased need to exchange confidential statistical information within the whole European System of Central Banks (ESCB). The Recommendation will be published in the Official Journal of the European Union and is available on the ECB’s website.

ECB Guideline on monetary and financial statistics (recast)

On 4 April 2014 the Governing Council adopted Guideline ECB/2014/15 on monetary and financial statistics, which repeals Guideline ECB/2007/9. The purpose of this legal act is to align the reporting framework with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union, and relevant ECB statistical regulations that have been recently amended. The Guideline will be published in the Official Journal of the European Union and on the ECB’s website.

Corporate Governance

Chair of the Legal Committee

On 16 April 2014 the Governing Council appointed Ms Chiara Zilioli, Director General of the ECB’s Directorate General Legal Services, as Chair of the Legal Committee with immediate effect and until 31 December 2016.

Amendments to the ECB framework on sanctions

On 16 April 2014 the Governing Council adopted Recommendation ECB/2014/19 to amend Council Regulation (EC) No 2532/98 concerning the powers to impose sanctions and Regulation ECB/2014/18 amending Regulation (EC) No 2157/99 concerning the powers of the ECB to impose sanctions. The purpose of the amendments is to adapt the ECB framework on sanctions in view of the establishment of the Single Supervisory Mechanism: the Recommendation aims at aligning the procedural rules contained in Regulation 2532/98 and those laid down in Council Regulation (EU) No 1024/2013, in particular as regards the upper limits of fines and periodic penalty payments, the decision-making procedure for imposing a sanction and the limitation periods. The amendments to Regulation (EC) No 2157/99 on the powers of the ECB to impose sanctions (ECB/1999/4) clarify that this framework does not apply to sanctions imposed by the ECB in the exercise of its supervisory tasks, which are covered by the SSM Framework Regulation. Both legal acts will be published in the Official Journal of the European Union and on the ECB’s website.

Banking Supervision

ECB’s SSM Framework Regulation

On 16 April 2014, the Governing Council adopted Regulation ECB/2014/17 establishing the framework for cooperation within the Single Supervisory Mechanism between the ECB and national competent authorities and with national designated authorities (the SSM Framework Regulation), which specifies the practical arrangements for the implementation of cooperation within the SSM. The Regulation, together with a feedback statement presenting a summary of the comments made in response to the public consultation in the course of the public consultation, will be published on the ECB’s website on 25 April 2014 and thereafter in the Official Journal of the European Union.

ECB Decision concerning the establishment of the Administrative Board of Review and its Operating Rules

On 14 April 2014 the Governing Council adopted Decision ECB/2014/16 concerning the establishment of the Administrative Board of Review and its Operating Rules. The Administrative Board of Review will carry out the internal administrative review of decisions taken by the ECB in the exercise of the powers conferred by Council Regulation (EU) No 1024/2013, at the request of any natural or legal person to whom such decisions are addressed, or to whom they are of direct and individual concern. The Decision will be published on the ECB’s website and thereafter in the Official Journal of the European Union.

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