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Decision (EU) 2016/1717 of the European Central BankShow full title
Decision (EU) 2016/1717 of the European Central Bank of 21 September 2016 amending Decision ECB/2004/2 adopting the Rules of Procedure of the European Central Bank (ECB/2016/27)
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- 2016 No. 27
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Decision (EU) 2016/1717 of the European Central Bank
of 21 September 2016
amending Decision ECB/2004/2 adopting the Rules of Procedure of the European Central Bank (ECB/2016/27)
THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,
Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 12.3 thereof,
Whereas:
(1) Legal instruments addressed to national central banks (NCBs) and to national competent authorities (NCAs), such as European Central Bank (ECB) guidelines and instructions, need to be properly notified to their addressees. Today, the commonly accepted practice for notifications between the ECB, on the one hand, and the NCBs or NCAs, on the other, is use of electronic means including email. In contrast, telex has become obsolete as a means of communication due to technological developments.
(2) In the past two years, the ECB has adopted many decisions addressed to supervised entities or entities which have applied for authorisation to take up the business of a credit institution. Equally, the ECB has adopted decision imposing sanctions on third parties. Although primary law does not prescribe this, the ECB Rules of Procedure currently require the ECB President to sign these types of ECB decisions with addressees.
(3) In the future, ECB decisions addressed to supervised entities or entities which have applied for authorisation to take up the business of a credit institution and decisions imposing sanctions on third parties should be signed by the Secretary of the Governing Council in order to certify the conformity with the Governing Council's decision.
(4) Given the significantly increased volume of supervisory decisions, the amendment should be adopted as a matter of urgency and enter into force on the day of its publication in the Official Journal of the European Union.
(5) Therefore, Decision ECB/2004/2(1) should be amended accordingly,
HAS ADOPTED THIS DECISION:
(1)
Decision ECB/2004/2 of 19 February 2004 adopting the Rules of Procedure of the European Central Bank (OJ L 80, 18.3.2004, p. 33).
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