- Latest available (Revised)
- Original (As adopted by EU)
Council Implementing Decision of 22 January 2013 amending Implementing Decision 2011/77/EU on granting Union financial assistance to Ireland (2013/48/EU)
You are here:
- Decisions originating from the EU
- 2013 No. 48
- Introduction
What Version
Advanced Features
- Show Geographical Extent(e.g. England, Wales, Scotland and Northern Ireland)
- Show Timeline of Changes
Opening Options
More Resources
Revised version PDFs
- Revised 24/01/20130.57 MB
Legislation originating from the EU
When the UK left the EU, legislation.gov.uk published EU legislation that had been published by the EU up to IP completion day (31 December 2020 11.00 p.m.). On legislation.gov.uk, these items of legislation are kept up-to-date with any amendments made by the UK since then.
This item of legislation originated from the EU
Legislation.gov.uk publishes the UK version. EUR-Lex publishes the EU version. The EU Exit Web Archive holds a snapshot of EUR-Lex’s version from IP completion day (31 December 2020 11.00 p.m.).
Changes over time for: Introductory Text
Changes to legislation:
This version of this Decision was derived from EUR-Lex on IP completion day (31 December 2020 11:00 p.m.). It has not been amended by the UK since then. Find out more about legislation originating from the EU as published on legislation.gov.uk.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Council Implementing Decision
of 22 January 2013
amending Implementing Decision 2011/77/EU on granting Union financial assistance to Ireland
(2013/48/EU)
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union,
Having regard to Council Regulation (EU) No 407/2010 of 11 May 2010 establishing a European financial stabilisation mechanism(1), and in particular Article 3(2) thereof,
Having regard to the proposal from the European Commission,
Whereas:
(1) Upon a request by Ireland, the Council granted financial assistance to it by means of Implementing Decision 2011/77/EU(2) in support of a strong economic and financial reform programme aiming at restoring confidence, enabling the economy to return to sustainable growth, and safeguarding financial stability in Ireland, the euro area and the Union.
(2) In line with Article 3(9) of Implementing Decision 2011/77/EU, the European Commission, together with the International Monetary Fund (IMF) and in liaison with the European Central Bank (ECB), has conducted the eighth review of the Irish authorities’ progress on the implementation of the agreed measures as well as of the effectiveness and economic and social impact of those measures.
(3) Significant progress has been made towards the programme’s bank deleveraging objectives. Specifically, two domestic banks have either already met or are well on their way towards meeting the 122,5 % loan-to-deposit ratio (LDR) target, originally envisaged to be met by the end of 2013. The remaining domestic bank has completed some non-core asset disposals and its programme deleveraging requirements will be reassessed following a decision on its restructuring plan by the European Commission.
(4) In view of that significant progress, a modification of the programme’s monitoring framework for banks’ deleveraging towards nominal non-core asset disposal targets and advanced monitoring designed to ensure that banks improve their net stable funding ratios (NSFRs) and their liquidity coverage ratios (LCRs) would contribute to avoiding any undue distortion in banks’ deposit pricing and prepare banks for compliance with Basel III liquidity requirements.
(5) In light of those developments and considerations, Implementing Decision 2011/77/EU should be amended,
HAS ADOPTED THIS DECISION:
Options/Help
Print Options
PrintThe Whole Decision
PrintThis Introductory Text only
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As adopted by EU): The original version of the legislation as it stood when it was first adopted in the EU. No changes have been applied to the text.
See additional information alongside the content
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Opening Options
Different options to open legislation in order to view more content on screen at once
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as adopted version that was used for the EU Official Journal
- lists of changes made by and/or affecting this legislation item
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
Timeline of Changes
This timeline shows the different versions taken from EUR-Lex before exit day and during the implementation period as well as any subsequent versions created after the implementation period as a result of changes made by UK legislation.
The dates for the EU versions are taken from the document dates on EUR-Lex and may not always coincide with when the changes came into force for the document.
For any versions created after the implementation period as a result of changes made by UK legislation the date will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. For further information see our guide to revised legislation on Understanding Legislation.
More Resources
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as adopted version that was used for the print copy
- correction slips
Click 'View More' or select 'More Resources' tab for additional information including:
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- links to related legislation and further information resources
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.