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

April 2005

Economic, monetary and financial situation

Sixth structural issues report

On 7 April 2005 the Governing Council approved the sixth structural issues report, which has been prepared by the Monetary Policy Committee (one of the Eurosystem/ESCB committees). The report provides a comprehensive assessment of the euro area’s competitiveness and export performance, and reviews the factors underlying this performance. It will be published as an Occasional Paper on the ECB’s website in the second half of May.

Operational issues

Assessment of securities settlement systems against user standards for Eurosystem credit operations

The Governing Council updated the assessment of securities settlement systems eligible for the settlement of Eurosystem credit operations against the “Standards for the use of EU securities settlement systems in ESCB credit operations”, published in 1998. A press release with further information was published on the ECB’s website on 21 April 2005

Advice on legislation

ECB Opinion on Lithuanian minimum reserve requirements

On 1 April 2005, at the request of Lietuvos bankas, the Governing Council adopted an Opinion on draft rules on minimum reserve requirements for credit institutions (CON/2005/8). The Opinion was published on the ECB’s website on 14 April 2005.

ECB Opinion on the status in Belgium of securities settlement and assimilated institutions

On 15 April 2005, at the request of the Belgian Ministry of Finance, the Governing Council adopted an Opinion on a draft royal decree on the status of securities settlement and assimilated institutions (CON/2005/9). The Opinion was published on the ECB’s website on 19 April 2005.

Statistics

Exchange of confidential statistical information within the ESCB

On 5 April 2005 the Governing Council agreed that confidential statistical data which the ESCB receives from national statistical institutes or the Statistical Office of the European Communities (Eurostat) will only be used for statistical purposes. This decision is in line with Council Regulation (EC) No 322/97 of 17 February 1997 on Community Statistics.

Corporate governance

ECB Recommendations on the external auditors of the Bank of Greece and the Nationale Bank van België/Banque Nationale de Belgique

On 7 April 2005, the Governing Council adopted Recommendations to the EU Council on the external auditors of the Bank of Greece (ECB/2005/7) and of the Nationale Bank van België/Banque Nationale de Belgique (ECB/2005/8). The Recommendations were published in the Official Journal of the European Union on 15 April 2005 and on the ECB’s website on 19 April 2005.

New chair of the Information Technology Committee

The Governing Council appointed Mr Hans-Gert Penzel as Chair of the Information Technology Committee, which is one of the Eurosystem/ESCB committees. His term of office starts immediately and will expire on 31 August 2007.

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