Regulatory Alerts2014-01-27
Added · Updated
Decision on coordination framework for notification of national macro-prudential measures and ESRB opinions
The European Systemic Risk Board establishes a procedural framework for competent or designated authorities to notify national macro-prudential policy measures and for the Board to issue opinions or recommendations within one month. Notifying authorities must submit notifications in English using published templates and provide informal notice five working days in advance. The Board's Assessment Team prepares draft assessments within twelve working days, allowing General Board members to raise concerns regarding cross-border spillovers within five working days of receipt. Final opinions or recommendations are adopted by written procedure at least one working day before the one-month deadline expires and are published three months after approval or rejection unless confidentiality is requested.