Regulatory Alerts2015-12-16
Added · Updated
Decision of the European Systemic Risk Board on a coordination framework for the notification of national macroprudential policy measures
The European Systemic Risk Board establishes a common procedural framework for the notification of national macroprudential policy measures, the issuing of opinions and recommendations, and the assessment of cross-border effects. This Decision repeals Decision ESRB/2014/2 and extends the mandate of the Assessment Team to cover three specific tasks: assessing the appropriateness of measures, evaluating reciprocation requests, and ensuring coherence for countercyclical capital buffer rates. It sets strict timelines for these processes, requiring the ESRB to deliver opinions or recommendations within one month of notification and to aim for amendments to reciprocity recommendations within three months. The framework also defines publication rules and allows for non-disclosure of specific measures or opinions if required for financial stability reasons.