Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
Central bank compliance with prohibitions of monetary financing and privileged access
On 22 March 2007, in accordance with the Treaty establishing the European Community, which assigns to the ECB the task of monitoring the compliance of central banks with the prohibitions referred to in Articles 101 and 102 and the related Regulations, the Governing Council approved the report covering the year 2006. Further information on this matter will be provided in a dedicated section of the ECB’s Annual Report 2006 which will be made public on 23 April 2007.
Payment Systems and Market Infrastructure
TARGET2-Securities: next steps
On 8 March 2007 the Governing Council concluded that it is feasible to implement TARGET2-Securities and therefore decided to launch the next phase of the project, namely to specify the governance arrangements of the project and to define the user requirements, based on the implementation of TARGET2-Securities on the TARGET2 platform, with the input of the stakeholders. The TARGET2-Securities blueprint and feasibility study, together with a related press release, were published on the ECB’s website on 8 March 2007.
Financial stability and Supervision
Private equity in the EU
On 22 March 2007 the Governing Council authorised the publication of a report entitled “Large banks and private equity-sponsored leveraged buyouts in the EU”, prepared by the Banking Supervision Committee. The report assesses the degree of involvement of large EU banks in EU leveraged buyouts and examines the possible financial stability implications of such activities. The report will be published on the ECB’s website by mid-April 2007.
Advice on legislation
ECB Opinion on an amendment to the Deutsche Bundesbank’s statutes
On 7 March 2007, at the request of the German Ministry of Finance, the Governing Council adopted an Opinion on an amendment to the Deutsche Bundesbank’s statutes relating to the number and nomination of the members of its Executive Board (CON/2007/6). The Opinion is available on the ECB’s website.
ECB Opinion on Dutch oversight of clearing and settlement services
On 15 March 2007, at the request of the Dutch Ministry of Finance, the Governing Council adopted an Opinion on the oversight of clearing and settlement services (CON/2007/7). The Opinion is available on the ECB’s website.
ECB Opinion on consumer protection tasks in the Czech Republic
On 21 March 2007, at the request of the Czech Ministry of Industry and Trade, the Governing Council adopted an Opinion on certain Česká národní banka tasks in the area of consumer protection (CON/2007/8). The Opinion is available on the ECB’s website.
ECB’s Annual Accounts 2006
On 8 March 2007 the Governing Council approved the audited Annual Accounts of the ECB for the financial year 2006. The Accounts, together with a related press release, were published on the ECB’s website on 8 March 2007.