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Public consultation on the ECB’s draft decision on the procedure and conditions for exercise by a competent authority of certain powers in relation to the oversight of SIPS

This consultation gives interested parties the opportunity to comment on the ECB’s draft decision on the procedure and conditions for exercise by a competent authority of certain powers in relation to the oversight of systemically important payment systems (SIPS).

That decision has been drafted on the basis of Article 21(1) of Regulation (EU) No 795/2014 (“the SIPS Regulation”) as amended by Regulation (EU) 2017/2094, which empowers a competent authority to:

  1. obtain information and documents from a SIPS operator;
  2. require a SIPS operator to appoint an independent expert to perform an investigation or independent review on the operation of the SIPS;
  3. conduct on-site inspections or delegate the carrying-out thereof.

Article 21(2), in turn, requires the ECB to “adopt a decision on the procedure and conditions for exercising the powers referred to in paragraph 1”.

Deadline

All comments must be submitted by 17:00 CET on 12 April 2019

Only comments received by that deadline will be considered.

The ECB envisages that the feedback given on this consultation document will provide valuable input that helps to establish a clear procedure and conditions governing the exercise of a competent authority’s powers in respect of SIPS.

Following the expiry of the deadline for submitting responses, the ECB will assess all comments received and amend its decision accordingly. The final version of that ECB decision will then be published, together with details of all relevant feedback provided in the course of the consultation.

Submitting comments

Comments should be submitted in English using the dedicated response form

Those comments should be emailed to: ECB-Oversight-consultations@ecb.europa.eu

After the consultation period ends, a summary of the responses submitted will be published on this webpage.

Personal data protection

The ECB processes your personal data in line with the Regulation (EU) 2018/1725.

Your individual and anonymised responses to the public consultation will be published on the internet (unless explicitly requested otherwise in the response form) and summarised after the end of the consultation period into a synopsis report.

For further details, please read the specific privacy statement for this consultation regarding the processing of your personal data by the ECB.

Consultation documents