Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
21 April 2023
Adoption of legal acts implementing changes in the remuneration of non-monetary policy deposits
On 5 April 2023 the Governing Council adopted Guideline ECB/2023/8 amending Guideline ECB/2019/7 on domestic asset and liability management operations by the national central banks and Decision ECB/2023/9 amending Decision ECB/2019/31 on the remuneration of holdings of excess reserves and of certain deposits. These legal acts implement the changes to be introduced in the remuneration regime as of 1 May 2023, as decided by the Governing Council on 7 February 2023. The related press release announcing the adjustments is available on the ECB’s website.
Advice on legislation
ECB Opinion on the imposition of a temporary solidarity contribution
On 4 April 2023 the Governing Council adopted Opinion CON/2023/9 at the request of the Lithuanian Ministry of Finance.
ECB Recommendation on the external auditors of the Nationale Bank van België/Banque Nationale de Belgique
On 13 April 2023 the Governing Council adopted Recommendation ECB/2023/10 to the Council of the European Union on the external auditors of the Nationale Bank van België/Banque Nationale de Belgique.
Amendment to the ECB Decision concerning the establishment of the Administrative Board of Review (ABoR) and its operating rules
On 13 April 2023 the Governing Council adopted Decision ECB/2023/11 amending Decision ECB/2014/16 concerning the establishment of an Administrative Board of Review and its operating rules. The amending legal act clarifies and adapts certain aspects of the ABoR’s operating rules based on the experience gained since its establishment.
Expanding the reporting population of euro money market statistics
On 5 April 2023 the Governing Council decided to expand the reporting population for money market statistics reporting (MMSR) by adding 24 new banks to the 47 banks currently reporting. The new banks will start reporting on 1 July 2024, helping to make the MMSR data published by the ECB more representative. The related press release will soon be made available on the ECB’s website.
2022 Quality Report on euro area and national quarterly financial accounts
On 14 April 2023 the Governing Council approved the assessment included in the 2022 Quality Report on euro area and national quarterly financial accounts and authorised its publication. This biennial report provides a quality analysis of euro area statistical output, covering the elements of: (i) methodological soundness, (ii) timeliness, (iii) reliability and stability, (iv) internal consistency, and (v) external consistency/coherence with other comparable statistical domains. The report will soon be made available on the ECB’s website.
ECB Banking Supervision
Publication of SSM methodology on setting the Pillar 2 requirement for banks
On 11 April 2023 the Governing Council did not object to a proposal by the Supervisory Board to publish a web page on the methodology used to set the Pillar 2 requirement for individual banks. Related information is available under the relevant section of the ECB’s Banking supervision website.
ECB compliance with the European Banking Authority (EBA) guidelines on the management of interest rate risk and credit spread risk arising from non-trading book activities
On 17 April 2023 the Governing Council did not object to a proposal by the Supervisory Board to notify the EBA that, for the significant institutions under its direct supervision, the ECB intends to comply by 31 December 2023 with the EBA Guidelines on the management of interest rate risk and credit spread risk arising from non-trading book activities (EBA/GL/2022/14).