Regulatory Alerts2016-10-12
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Decision of the European Systemic Risk Board of 12 October 2016 amending Decision ESRB/2011/1 adopting the Rules of Procedure of the European Systemic Risk Board
The General Board of the European Systemic Risk Board amends Decision ESRB/2011/1 to transfer the signing authority for specific procedural documents from the Chair to the Head of the ESRB Secretariat. Specifically, Article 5(4) is updated so that approved draft minutes of General Board meetings are signed by the Head of the Secretariat. Article 10(3) requires the Head of the Secretariat to sign the draft summary proceedings of Steering Committee meetings. Furthermore, Article 19(2) mandates that ESRB warnings and recommendations be signed by the Head of the Secretariat to certify their conformity with the General Board’s decision.
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Decision of the European Systemic Risk Board of 12 October 2016 amending Decision ESRB/2011/1 adopting the Rules of Procedure of the European Systemic Risk Board (ESRB/2016/13)
Decision of the European Systemic Risk Board of 12 October 2016 amending Decision ESRB/2011/1 adopting the Rules of Procedure of the European Systemic Risk Board (ESRB/2016/13)
Decision of the European Systemic Risk Board of 12 October 2016 amending Decision ESRB/2011/1 adopting the Rules of Procedure of the European Systemic Risk Board (ESRB/2016/13)
OJ C 437, 25.11.2016, p. 8–8 (BG, ES, CS, DA, DE, ET, EL, EN, FR, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)
In force
Official Journal
Language 1
Language 2
Language 3
25.11.2016
EN
Official Journal of the European Union
C 437/8
DECISION OF THE EUROPEAN SYSTEMIC RISK BOARD
of 12 October 2016
amending Decision ESRB/2011/1 adopting the Rules of Procedure of the European Systemic Risk Board
(ESRB/2016/13)
(2016/C 437/05)
THE GENERAL BOARD OF THE EUROPEAN SYSTEMIC RISK BOARD,
Having regard to Regulation (EU) No 1092/2010 of the European Parliament and of the Council of 24 November 2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board ( 1 ) , and in particular Article 6(4) thereof,
Having regard to Council Regulation (EU) No 1096/2010 of 17 November 2010 conferring specific tasks upon the European Central Bank concerning the functioning of the European Systemic Risk Board ( 2 ) ,
Whereas:
(1)
Warnings and recommendations issued by the European Systemic Risk Board (ESRB) are legal instruments that need to be properly notified to their addressees. Article 19(2) of Decision ESRB/2011/1 of the European Systemic Risk Board ( 3 ) requires the Chair of the ESRB to sign ESRB warnings and recommendations.
(2)
Henceforth each ESRB warning and recommendation should be signed by the Head of the ESRB Secretariat in order to certify its conformity with the General Board’s decision.
(3)
Therefore, Decision ESRB/2011/1 should be amended accordingly,
HAS ADOPTED THIS DECISION:
Sole Article
Amendments
Decision ESRB/2011/1 is amended as follows:
in Article 5, paragraph 4 is replaced by the following:
‘4. The Chair of the ESRB shall submit the draft minutes to the members of the General Board for comments and approval by written procedure at the latest two weeks following the meeting or, if this is not possible, at the subsequent meeting. Once approved, they shall be signed by the Head of the ESRB Secretariat.’;
in Article 10, paragraph 3 is replaced by the following:
‘3. The Head of the ESRB Secretariat shall prepare the draft summary proceedings of the Steering Committee meetings and submit them for comments and approval to the members of the Steering Committee by written procedure, as a rule before the following General Board meeting. The summary proceedings shall be signed by the Head of the ESRB Secretariat.’;
in Article 19, paragraph 2 is replaced by the following:
‘2. ESRB warnings and recommendations shall be adopted by the General Board and signed by the Head of the ESRB Secretariat to certify their conformity with the General Board’s decision.’.
Done at Frankfurt am Main, 12 October 2016.
The Chair of the ESRB
Mario DRAGHI
( 1 )
OJ L 331, 15.12.2010, p. 1 .
( 2 )
OJ L 331, 15.12.2010, p. 162 .
( 3 ) Decision ESRB/2011/1 of the European Systemic Risk Board of 20 January 2011 adopting the Rules of Procedure of the European Systemic Risk Board ( OJ C 58, 24.2.2011, p. 4 ).
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