Decision (EU) 2015/2218 of the European Central BankShow full title

Decision (EU) 2015/2218 of the European Central Bank

of 20 November 2015

on the procedure to exclude staff members from the presumption of having a material impact on a supervised credit institution's risk profile (ECB/2015/38)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 127(6) and Article 132 thereof,

Having regard to Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions(1), and in particular Article 4(3) thereof,

Whereas:

(1) Within the framework established pursuant to Article 6 of Regulation (EU) No 1024/2013, the European Central Bank (ECB) is exclusively competent to carry out the tasks conferred on it by Article 4 of that Regulation relating to credit institutions established in participating Member States or branches established in participating Member States by credit institutions established in non-participating Member States.

(2) In order to pursue the objectives of the banking union following the European Council's conclusion of 19 October 2012 that the process towards a deeper economic and monetary union should build on the Union's institutional and legal framework, a harmonised legal framework within the Single Supervisory Mechanism should be established.

(3) Regulation (EU) No 468/2014 of the European Central Bank (ECB/2014/17)(2) establishes the framework for cooperation within the Single Supervisory Mechanism between the ECB and national competent authorities and with national designated authorities. In particular Part III, Title 2 sets out general provisions relating to due process for adopting ECB supervisory decisions.

(4) The framework for prudential supervision established by Directive 2013/36/EU of the European Parliament and of the Council(3) requires that institutions identify all members of staff whose professional activities have a material impact on the institution's risk profile. Any criteria used for this purpose must ensure that the identification of staff whose professional activities have a material impact on the institution's risk profile reflects the level of risk of different activities within the institution.

(5) The ECB is responsible for ensuring, within the framework of Commission Delegated Regulation (EU) No 604/2014(4), that the entities under its direct supervision apply the rules on the identification of staff having a material impact on an institution's risk profile in a coherent manner that safeguards the soundness of any such identification. This Decision therefore provides for a procedure in relation to the application of the quantitative criteria set out in Article 4 of Delegated Regulation (EU) No 604/2014,

HAS ADOPTED THIS DECISION:

(1)

OJ L 287, 29.10.2013, p. 63.

(2)

Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014 establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities (SSM Framework Regulation) (ECB/2014/17) (OJ L 141, 14.5.2014, p. 1).

(3)

Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27.6.2013, p. 338).

(4)

Commission Delegated Regulation (EU) No 604/2014 of 4 March 2014 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards with respect to qualitative and appropriate quantitative criteria to identify categories of staff whose professional activities have a material impact on an institution's risk profile (OJ L 167, 6.6.2014, p. 30).