Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates) November 2005

Financial stability and supervision

Eurosystem contribution to the European Commission’s public consultation on the Green Paper on the enhancement of the EU framework for investment funds

On 17 November 2005 the Governing Council approved the above-mentioned contribution, which is available on all Eurosystem websites.

Financial Stability Review – December 2005

On 17 November 2005 the Governing Council authorised the publication of the “Financial Stability Review – December 2005”. The Review provides a comprehensive assessment of the capacity of the euro area financial system to absorb adverse disturbances and examines the main sources of risks to and vulnerabilities of the stability of the euro area financial system. It will be published on the ECB’s website on 8 December 2005.

Advice on legislation

ECB Opinion on German reporting obligations for cross-border payments

On 21 October 2005, at the request of the German Federal Ministry of Economics and Labour, the Governing Council adopted an Opinion on amendments to the reporting obligations for cross-border payments (CON/2005/37). The Opinion is available on the ECB’s website.

ECB Opinion on banknote and coin issuance in Lithuania

On 26 October 2005, at the request of Lietuvos bankas, the Governing Council adopted an Opinion on Lietuvos bankas’ right to issue banknotes and coins upon adoption of the euro and on its Governor’s personal independence (CON/2005/38). The Opinion is available on the ECB’s website.

ECB Opinion on Czech financial market supervision

On 28 October 2005, at the request of Česká národní banka, the Governing Council adopted an Opinion on a revised proposal for comprehensive integration of financial market supervision with Česká národní banka as the sole supervisory authority (CON/2005/39). The Opinion is available on the ECB’s website.

ECB Opinion on French rules for transfers of financial instruments

On 28 October 2005, at the request of the French Financial Markets Authority, the Governing Council adopted an Opinion on the implementation of rules concerning the transfer of ownership of financial instruments (CON/2005/40). The Opinion is available on the ECB’s website.

ECB Opinion on payment systems oversight in Italy

On 1 November 2005, at the request of the Banca d’Italia, the Governing Council adopted an Opinion on the oversight of low-value payment systems (CON/2005/41). The Opinion is available on the ECB’s website.

ECB Opinion on Hungarian business continuity requirements for clearing transactions

On 1 November 2005, at the request of Magyar Nemzeti Bank, the Governing Council adopted an Opinion on the material, technical, security and business continuity requirements for clearing transactions (CON/2005/42). The Opinion is available on the ECB’s website.

ECB Opinion on Belgian securities legislation

On 3 November 2005, at the request of the Belgian Ministry of Finance, the Governing Council adopted an Opinion on the abolition of bearer securities and on modernisation of the legal framework regarding corporate securities (CON/2005/43). The Opinion is available on the ECB’s website.

ECB Opinion on Polish foreign exchange legislation

On 4 November 2005, at the request of the Polish Minister of Finance, the Governing Council adopted an Opinion on provisions concerning foreign exchange permits (CON/2005/44). The Opinion is available on the ECB’s website.

ECB Opinion on Czech statistical reporting requirements

On 4 November 2005, at the request of Česká národní banka, the Governing Council adopted an Opinion on statistical reporting requirements for certain financial institutions including insurance corporations and pension funds (CON/2005/45). The Opinion is available on the ECB’s website.

ECB Opinion on exchange of Czech statistical data

On 16 November 2005, at the request of the Czech Statistical Office, the Governing Council adopted an Opinion on exchange of individual statistical data between Česká národní banka and Český statistický úřad (Statistical Office) for statistical purposes (CON/2005/46). The Opinion is available on the ECB’s website.

ECB Opinion on criminal liability of legal persons in Slovakia

On 16 November 2005, at the request of the Ministry of Justice of the Slovak Republic, the Governing Council adopted an Opinion on the exclusion of Národná banka Slovenska from criminal liability of legal persons (CON/2005/47). The Opinion is available on the ECB’s website.

Statistics

ECB Guideline on the statistical reporting requirements of the ECB in the field of quarterly financial accounts

On 17 November 2005 the Governing Council adopted a Guideline amending Guideline ECB/2002/7 on the statistical reporting requirements of the European Central Bank in the field of quarterly financial accounts (ECB/2005/13). The new Guideline extends the sectoral coverage and the coverage of financial assets and liabilities. It will allow a full set of quarterly financial accounts to be compiled for the euro area. The Guideline will be published in the Official Journal of the EU and on the ECB’s website.

Corporate governance

ECB Recommendation on the external auditors of the Central Bank and Financial Services Authority of Ireland

On 26 October 2005 the Governing Council adopted a Recommendation to the EU Council on the external auditors of the Central Bank and Financial Services Authority of Ireland (ECB/2005/10). The Recommendation was published in the Official Journal of the EU on 10 November 2005 and is also available on the ECB’s website.

ECB Decision on the distribution of the income of the ECB on euro banknotes

On 17 November 2005 the Governing Council adopted a Decision on the distribution of the income of the European Central Bank on euro banknotes in circulation to the national central banks of the participating Member States (ECB/2005/11). The Decision will be published shortly in the Official Journal of the EU and on the ECB’s website.

ECB Decision on the ECB’s annual accounts

On 17 November 2005 the Governing Council adopted a Decision amending Decision ECB/2002/11 on the annual accounts of the European Central Bank (ECB/2005/12). The Decision will be published shortly in the Official Journal of the EU and on the ECB’s website.

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