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

July 2018

Market operations

Indicative calendars for the Eurosystem’s regular tender operations and reserve maintenance periods

On 5 July 2018 the Governing Council approved the indicative calendars for the Eurosystem’s regular tender operations and reserve maintenance periods for 2019. Details were provided in a related press release published on the ECB’s website on 11 July 2018.

Advice on legislation

ECB Opinion on the regulation of the business of owning credit agreements in Ireland

On 5 July 2018 the Governing Council adopted Opinion CON/2018/31 at the request of the Chairman of the Oireachtas (the Irish National Parliament) Joint Committee on Finance, Public Expenditure and Reform and the Taoiseach (the Irish Prime Minister).

ECB Opinion on a proposal for a regulation on minimum loss coverage for non-performing exposures

On 12 July 2018 the Governing Council adopted Opinion CON/2018/32 at the request of the European Parliament and the Council of the European Union.

ECB Opinion on a proposal for a regulation on the law applicable to third-party effects of assignments of claims

On 18/07/2018 the Governing Council adopted Opinion CON/2018/33.

Corporate governance

ECB Recommendation to the Council of the European Union on the external auditors of Banka Slovenije

On 6 July 2018 the Governing Council adopted Recommendation ECB/2018/18 to the Council of the European Union on the external auditors of Banka Slovenije. The Recommendation will be published in the Official Journal of the European Union and on the ECB’s website.

Banking supervision

Publication of the ECB report on recovery plans

On 29 June 2018 the Governing Council did not object to a proposal by the Supervisory Board to publish the ECB report on recovery plans. The report is available on the ECB’s banking supervision website.

Announcement of further steps in the supervisory approach to the stock of NPLs in the euro area

On 6 July 2018 the Governing Council did not object to a proposal by the Supervisory Board regarding further steps in the supervisory approach for addressing the stock of non-performing loans (NPLs) in the euro area. The approach follows the work that has already been undertaken in this area, namely the banks’ NPL reduction strategies, and the addendum for provisioning for new NPLs. It creates a consistent framework to address the stock of NPLs as part of the supervisory dialogue through bank-specific supervisory expectations aimed at achieving adequate provisioning of legacy NPLs thereby contributing to the resilience of the euro area banking system as a whole. More information is available on the ECB’s banking supervision website.

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