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The European Banking Union

A Compendium
Authors:
Publisher:
 2015
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Summary

The creation of the European Banking Union and the transfer of supervisory and resolution powers from the Member States to the European level has drastically changed the institutional setting for banking supervision within the Eurozone. Against this backdrop, the book combines a collection of the legal instruments pertaining to the Banking Union with introductory chapters on the policy background and relevant institutional and substantive issues, including procedural matters and questions of legal redress. It thus offers a straightforward access to the relevant policy and substantive issues, which will be of help for practitioners, academics and students. Both editors have published on the relevant aspects before and combine the perspectives of different jurisdictions.

Keywords

Bibliographic data

Copyright year
2015
ISBN-Print
978-3-8487-2401-7
ISBN-Online
978-3-8452-6527-8
Publisher
Nomos, Baden-Baden
Series
Kooperationswerke Beck - Hart – Nomos
Language
German
Pages
368
Product type
Comment

Table of contents

ChapterPages
  1. Titelei/Inhaltsverzeichnis I - XVI Download chapter (PDF)
    1. I. Introduction No access
      1. 1. The origins and developments since 2010 No access
      2. 2. The political process 2012‑2013 No access
        1. a) Prudential regulation and supervision No access
        2. b) Insolvency and crisis management No access
        3. c) Consequences and implications No access
        1. a) Breaking the link between financial stability and state finances No access
        2. b) Banking Union as a substitute Lender of Last Resort for the Eurozone? No access
      3. 3. The Banking Union and the Single Market No access
    4. IV. Conclusions No access
          1. aa) Scope No access
          2. bb) General aspects No access
          3. cc) Legal basis No access
          4. dd) Timetable of implementation No access
          1. aa) Regulation (EU) No 1022/2013 amending the ‘EBA Regulation’ No access
          2. bb) Legal acts of the ECB No access
          3. cc) The Interinstitutional Agreement between the European Parliament and the ECB No access
          4. dd) The Memorandum of Understanding between the Council and the ECB No access
        1. a) General overview No access
          1. aa) The two components of the SSM No access
          2. bb) The ECB as the main actor No access
          3. cc) The national competent authorities No access
          1. aa) The perimeter in respect of different types of financial firms No access
          2. bb) The perimeter in respect of Member States No access
          3. cc) The perimeter in respect of credit institutions and other supervised entities No access
        4. d) The SSM as part of the European System of Financial Supervision (ESFS) No access
        5. e) Creation of ‘Chinese walls’ No access
        1. a) Specific supervisory tasks in relation to credit institutions and other supervised entities incorporated in participating Member States No access
        2. b) Specific supervisory tasks concerning branches in participating Member States by credit institutions incorporated in non-participating Member States No access
        3. c) Regulatory powers No access
          1. aa) General principles and obligations applying to the operation of the SSM No access
          2. bb) Micro-prudential supervision of significant supervised entities No access
          3. cc) Micro-prudential supervision of less significant supervised entities No access
          1. aa) Legal basis, provedure and effects No access
          2. bb) Suspension or termination of a ‘close cooperation’ procedure No access
          1. aa) Cooperation with competent authorities of non-participating Member States No access
          2. bb) Cooperation with national resolution authorities No access
          3. cc) Cooperation with public financial assistance facilities No access
        4. d) International cooperation No access
        1. a) The general principles No access
          1. aa) Requests for the provision of information No access
          2. bb) Conduct of investigations and of on-site inspections No access
        3. c) Supervisory powers under Article 16 of the SSMR No access
        4. d) Administrative penalties No access
        1. a) General overview No access
          1. aa) The Supervisory Board No access
          2. bb) Internal structure of the ECB with regard to its supervisory tasks and new composition of Eurosystem/ESCB Committees No access
          3. cc) The Administrative Board of Review No access
          1. aa) Introductory remarks No access
          2. bb) Institutional independence No access
          3. cc) Financial independence No access
          1. aa) Accountability vis-à-vis EU institutions No access
          2. bb) Accountability vis-à-vis national parliaments No access
          1. aa) The framework No access
          2. bb) ECB supervisory procedures No access
          3. cc) ECB supervisory Decisions No access
        6. f) Other provisions No access
        1. a) The legal acts No access
          1. aa) Scope of application No access
          2. bb) Participating Member States No access
          3. cc) Relation to the BRRD and applicable national law No access
          4. dd) General principles No access
            1. (1) The Board No access
            2. (2) The national resolution authorities No access
            1. (1) Legal status No access
            2. (2) Composition No access
            3. (3) Administrative and management structure No access
            4. (4) Actions before the Court of Justice No access
            1. (1) General overview No access
            2. (2) Institutional independence No access
            3. (3) Financial independence No access
            1. (1) Accountability vis-à-vis EU institutions No access
            2. (2) Accountability vis-à-vis national parliaments No access
          1. aa) Fines No access
          2. bb) Periodic penalty payments No access
        5. e) Selected other provisions of the SRMR No access
          1. aa) Purpose and scope No access
          2. bb) Consistency and relationship with EU law No access
          3. cc) Application No access
          1. aa) General provisions No access
          2. bb) Content of resolution plans No access
          3. cc) Assessment of resolvability No access
          4. dd) Simplified obligations for certain institutions No access
          1. aa) Entities and groups subject to the MREL No access
          2. bb) Definition of the MREL No access
          3. cc) Conditions applying to the determinations made by the Board No access
        3. c) Early intervention No access
          1. aa) Resolution objectives No access
          2. bb) General principles governing resolution No access
          3. cc) Order of priority of claims No access
            1. (1) General provisions No access
            2. (2) Implementation of decisions under the SRMR No access
            3. (3) Valuation No access
        2. b) Write-down and conversion of capital instruments No access
          1. aa) General principles of resolution tools No access
          2. bb) Resolution scheme No access
          1. aa) General provisions No access
          2. bb) Target level No access
          3. cc) Ex-ante contributions No access
          4. dd) Ex-post contributions No access
        2. b) Administration of the SRF – investments No access
          1. aa) Mission of the SRF No access
          2. bb) Use of the SRF No access
          3. cc) Use of deposit guarantee schemes (DGSs) in the context of resolution No access
          1. aa) Transfer of contributions No access
          2. bb) Compartments No access
  4. Bibliography No access 69 - 76
          1. Article 1 Subject matter and scope No access
          2. Article 2 Definitions No access
          1. Article 3 Cooperation No access
          2. Article 4 Tasks conferred on the ECB No access
          3. Article 5 Macroprudential tasks and tools No access
          4. Article 6 Cooperation within the SSM No access
          5. Article 7 Close cooperation with the competent authorities of participating Member States whose currency is not the euro No access
          6. Article 8 International relations No access
            1. Section 1 Investigatory powers No access
          2. Article 10 Request for information No access
          3. Article 11 General investigations No access
          4. Article 12 On-site inspections No access
            1. Section 2 Specific supervisory powers No access
          6. Article 14 Authorisation No access
          7. Article 15 Assessment of acquisitions of qualifying holdings No access
          8. Article 16 Supervisory powers No access
          9. Article 17 Powers of host authorities and cooperation on supervision on a consolidated basis No access
          10. Article 18 Administrative penalties No access
          1. Article 19 Independence No access
          2. Article 20 Accountability and reporting No access
          3. Article 21 National parliaments No access
          4. Article 22 Due process for adopting supervisory decisions No access
          5. Article 23 Reporting of violations No access
          6. Article 24 Administrative Board of Review No access
          7. Article 25 Separation from monetary policy function No access
          8. Article 26 Supervisory board No access
          9. Article 27 Professional secrecy and exchange of information No access
          10. Article 28 Resources No access
          11. Article 29 Budget and annual accounts No access
          12. Article 30 Supervisory fees No access
          13. Article 31 Staff and staff exchange No access
          1. Article 32 Review No access
          2. Article 33 Transitional provisions No access
          3. Article 34 Entry into force No access
        1. Article 1 Amendments No access
        2. Article 2 Entry into force No access
        1. Article 1 No access
        2. Article 2 No access
        3. Article 3 No access
            1. Article 1 Subject matter and purpose No access
            2. Article 2 Definitions No access
                1. Article 3 Joint supervisory teams No access
                2. Article 4 Establishment and composition of joint supervisory teams No access
                3. Article 5 Involvement of staff members from NCBs of participating Member States No access
                4. Article 6 JST coordinator and sub-coordinators No access
                1. Article 7 Involvement of staff members from other NCAs in an NCA’s supervisory team No access
              1. Article 8 Supervision on a consolidated basis No access
              2. Article 9 The ECB as chair of a college of supervisors No access
              3. Article 10 The ECB and NCAs as members of a college of supervisors No access
                1. Article 11 Right of establishment of credit institutions within the SSM No access
                2. Article 12 Exercise of the freedom to provide services by credit institutions within the SSM No access
                1. Article 13 Notification of the exercise of the right of establishment within the SSM by credit institutions established in non-participating Member States No access
                2. Article 14 Competent authority of the host Member State for branches No access
                3. Article 15 Notification of the exercise of the freedom to provide services within the SSM by credit institutions established in non-participating Member States No access
                4. Article 16 Competent authority of the host Member State for freedom to provide services No access
                1. Article 17 Right of establishment and exercise of the freedom to provide services in relation to non-participating Member States No access
              1. Article 18 Coordinator No access
              1. Article 19 Overview No access
              2. Article 20 Duty to cooperate in good faith No access
              3. Article 21 General obligation to exchange information No access
              4. Article 22 Right of the ECB to instruct NCAs or NDAs to make use of their powers and to take action if the ECB has a supervisory task but no related power No access
              5. Article 23 Language regime between the ECB and NCAs No access
              6. Article 24 Language regime between the ECB and legal or natural persons, including supervised entities No access
                1. Article 25 General principles No access
                2. Article 26 Parties No access
                3. Article 27 Representation of a party No access
                4. Article 28 General obligations of the ECB and parties to an ECB supervisory procedure No access
                5. Article 29 Evidence in ECB supervisory procedures No access
                6. Article 30 Witnesses and experts in ECB supervisory procedures No access
                7. Article 31 Right to be heard No access
                8. Article 32 Access to files in an ECB supervisory procedure No access
                1. Article 33 Motivation of ECB supervisory decisions No access
                2. Article 34 Suspensory effect No access
                3. Article 35 Notification of ECB supervisory decisions No access
              1. Article 36 Reporting of breaches No access
              2. Article 37 Appropriate protection for reports of breaches No access
              3. Article 38 Procedures for the follow-up of reports No access
              1. Article 39 Classifying a supervised entity on an individual basis as significant No access
              2. Article 40 Classifying supervised entities which are part of a group as significant No access
              3. Article 41 Specific provisions in respect of branches of credit institutions established in non-participating Member States No access
              4. Article 42 Specific provisions in respect of subsidiaries of credit institutions established in non-participating Member States and third countries No access
                1. Article 43 Review of the status of a supervised entity No access
                2. Article 44 Procedure to be applied in determining the significance of a supervised entity No access
                1. Article 45 Beginning of direct supervision by the ECB No access
                2. Article 46 End of direct supervision by the ECB No access
                3. Article 47 Reasons for ending direct supervision by the ECB No access
                4. Article 48 Pending procedures No access
                1. Article 49 Publication No access
              1. Article 50 Determining significance on the basis of size No access
              2. Article 51 Basis for determining whether or not a supervised entity is significant on the basis of size No access
              3. Article 52 Basis for determining significance on the basis of size in specific or exceptional circumstances No access
              4. Article 53 Groups of consolidated undertakings No access
              5. Article 54 Method of consolidation No access
              6. Article 55 Method for calculating total assets No access
              1. Article 56 National economic importance threshold No access
              2. Article 57 Criteria for determining significance on the basis of importance for the economy of the Union or any participating Member State No access
              3. Article 58 Determining significance on the basis of importance for the economy of any participating Member State at the request of an NCA No access
              1. Article 59 Criteria for determining significance on the basis of the significance of cross-border activities of a supervised group No access
              2. Article 60 Cross-border assets and liabilities No access
              1. Article 61 Request for or receipt of direct public financial assistance from the ESM No access
              2. Article 62 Obligation of NCAs to inform the ECB of a possible request for or receipt of public financial assistance by a less significant supervised entity No access
              3. Article 63 Beginning and end of direct supervision No access
              4. Article 64 Scope No access
              1. Article 65 Criteria for determining the three most significant credit institutions in a participating Member State No access
              2. Article 66 Review process No access
              1. Article 67 Criteria for an ECB decision pursuant to Article 6(5)(b) of the SSM Regulation No access
              2. Article 68 Procedure for preparing an ECB decision pursuant to Article 6(5)(b) of the SSM Regulation at the request of an NCA No access
              3. Article 69 Procedure for preparing ECB decisions pursuant to Article 6(5)(b) of the SSM Regulation on the ECB’s own initiative No access
              1. Article 70 Particular circumstances leading to the classification of a significant supervised entity as less significant No access
              2. Article 71 Assessment of the existence of particular circumstances No access
              3. Article 72 Review No access
              1. Article 73 Notification of the ECB of an application for an authorisation to take up the business of a credit institution No access
              2. Article 74 NCAs’ assessment of applications No access
              3. Article 75 NCAs’ decisions rejecting an application No access
              4. Article 76 NCAs’ draft decisions on the authorisation to take up the business of a credit institution No access
              5. Article 77 ECB’s assessment of applications and hearing of applicants No access
              6. Article 78 ECB decisions on applications No access
              7. Article 79 Procedure for the lapsing of the authorisation No access
              1. Article 80 NCAs’ proposal to withdraw an authorisation No access
              2. Article 81 ECB’s assessment of a draft withdrawal decision No access
              3. Article 82 Assessment on the ECB's own initiative and consultation of NCAs No access
              4. Article 83 ECB decision on the withdrawal of an authorisation No access
              5. Article 84 Procedure in case of potential resolution measures to be taken by national authorities No access
              1. Article 85 Notification to NCAs of the acquisition of a qualifying holding No access
              2. Article 86 Assessment of potential acquisitions No access
              3. Article 87 ECB decision on acquisition No access
              1. Article 88 Procedures for notification of decisions No access
              1. Article 89 Supervision of significant supervised entities No access
              2. Article 90 Role of the NCAs in assisting the ECB No access
              3. Article 91 Draft decisions to be prepared by NCAs for the ECB’s consideration No access
              4. Article 92 Exchange of information No access
              1. Article 93 Assessment of the suitability of members of the management bodies of significant supervised entities No access
              2. Article 94 On-going review of managers’ suitability No access
              1. Article 95 Requests, notifications or applications by significant supervised entities No access
              1. Article 96 Deterioration of the financial situation of a less significant supervised entity No access
              2. Article 97 NCAs’ notification to the ECB of material NCA supervisory procedures No access
              3. Article 98 Notification by NCAs to the ECB of material draft supervisory decisions No access
              1. Article 99 General obligation of NCAs to report to the ECB No access
              2. Article 100 Frequency and scope of reports to be submitted by NCAs to the ECB No access
              1. Article 101 General provisions No access
              2. Article 102 Application of macro-prudential tools by the ECB No access
              1. Article 103 List of NCAs and NDAs responsible for macro-prudential tools No access
              2. Article 104 Exchange of information and cooperation in respect of the use of macro-prudential tools by an NCA or an NDA No access
              3. Article 105 Exchange of information and cooperation in respect of the ECB’s use of macro-prudential tools No access
              1. Article 106 Procedure for the establishment of a close cooperation No access
              2. Article 107 Principles to be applied when a close cooperation has been established No access
              3. Article 108 Legal instruments related to supervision in connection with close cooperation No access
              1. Article 109 Language regime under the regime of close cooperation No access
              2. Article 110 Assessment of significance of credit institutions under the regime of close cooperation No access
              3. Article 111 Common procedures under the regime of close cooperation No access
              4. Article 112 Macro-prudential tools under the regime of close cooperation No access
              5. Article 113 Administrative penalties under the regime of close cooperation No access
              6. Article 114 Investigatory powers pursuant to Articles 10 to 13 of the SSM Regulation under the regime of close cooperation No access
              1. Article 115 Supervision of significant supervised entities in a participating Member State in close cooperation No access
              2. Article 116 Decisions in respect of significant supervised entities and significant supervised groups No access
              1. Article 117 Supervision of less significant supervised entities and less significant supervised groups No access
              1. Article 118 Procedure in case of disagreement with the Supervisory Board’s draft decision pursuant to Article 7(8) of the SSM Regulation No access
              2. Article 119 Procedure in case of disagreement with an objection of the Governing Council to a Supervisory Board’s draft decision pursuant to Article 7(7) of the SSM Regulation No access
              1. Article 120 Definition of administrative penalties No access
              2. Article 121 Relationship to Regulation (EC) No 2532/98 No access
              3. Article 122 ECB powers to impose administrative penalties under Article 18(7) of the SSM Regulation No access
              1. Article 123 Establishment of an independent investigating unit No access
              2. Article 124 Referral of alleged breaches to the investigating unit No access
              3. Article 125 Powers of the investigating unit No access
              4. Article 126 Procedural rights No access
              5. Article 127 Examination of the file by the Supervisory Board No access
              6. Article 128 Definition of total annual turnover for the purpose of determining the upper limit for administrative pecuniary penalties No access
              1. Article 129 Procedural rules applicable to periodic penalty payments No access
              1. Article 130 Limitation periods for imposing administrative penalties No access
              2. Article 131 Limitation periods for the enforcement of administrative penalties No access
              1. Article 132 Publication of decisions regarding administrative penalties No access
              2. Article 133 Informing the EBA No access
              1. Article 134 Significant supervised entities No access
              2. Article 135 Reporting in respect of less significant supervised entities No access
              1. Article 136 Evidence of facts potentially giving rise to a criminal offence No access
              1. Article 137 Proceeds from penalties No access
              1. Article 138 Cooperation between the ECB and NCAs as regards the powers referred to in Articles 10 to 13 of the SSM Regulation No access
              1. Article 139 Ad-hoc requests for information under Article 10 of the SSM Regulation No access
              1. Article 140 Tasks related to supervisory reporting to competent authorities No access
              2. Article 141 Requests for information at recurring intervals under Article 10 of the SSM Regulation No access
              1. Article 142 Launch of a general investigation under Article 11 of the SSM Regulation No access
              1. Article 143 ECB decision to conduct an on-site inspection under Article 12 of the SSM Regulation No access
              2. Article 144 Establishment and composition of on-site inspection teams No access
              3. Article 145 Procedure and notification of an on-site inspection No access
              4. Article 146 Conduct of the on-site inspections No access
            1. Article 147 Start of direct supervision by the ECB when the ECB assumes its tasks for the first time No access
            2. Article 148 Defining the format of the report on supervisory history and risk profile to be provided by NCAs to the ECB No access
            3. Article 149 Continuity of existing procedures No access
            4. Article 150 Supervisory decisions taken by NCAs No access
            5. Article 151 Member States whose currency becomes the euro No access
            6. Article 152 Continuity of existing arrangements No access
            7. Article 153 Final provisions No access
          1. Article 1 Amendments No access
          2. Article 2 Final provisions No access
          1. Article 1 Supplementary nature No access
            1. Article 2 Establishment No access
            2. Article 3 Composition No access
            3. Article 4 Appointment of members No access
            4. Article 5 Attendance at Mediation Panel meetings No access
            5. Article 6 Mediation Panel meetings No access
            6. Article 7 Voting No access
              1. Article 8 Request for mediation No access
              2. Article 9 Case Committee No access
              1. Article 10 Mediation No access
              2. Article 11 Preparation of a new draft decision No access
              1. Article 12 Confidentiality and professional secrecy No access
              2. Article 13 Final provisions No access
            1. Article 1 Subject matter and scope No access
            2. Article 2 Definitions No access
            3. Article 3 General obligation to pay the annual supervisory fee No access
            4. Article 4 Fee debtor No access
            1. Article 5 Annual costs No access
            2. Article 6 Estimating and determining the annual costs No access
            1. Article 7 New supervised entities or change of status No access
            2. Article 8 Split of annual costs between significant and less significant supervised entities No access
            3. Article 9 Amount to be levied No access
            4. Article 10 Annual supervisory fee payable in respect of supervised entities or supervised groups No access
            1. Article 11 Cooperation with NCAs No access
            1. Article 12 Fee notice No access
            2. Article 13 Notification of the fee notice No access
            3. Article 14 Interest in case of non-payment No access
            1. Article 15 Sanctions No access
            2. Article 16 Transitional provisions No access
            3. Article 17 Report and review No access
            4. Article 18 Entry into force No access
          1. Article 1 Amendments to the Rules of Procedure of the European Central Bank No access
          2. Article 2 Entry into force No access
          3. ANNEX No access
            1. Article 1 Definitions No access
            2. Article 2 Request to enter into a close cooperation No access
            3. Article 3 Content of the request to enter into a close cooperation No access
            4. Article 4 Assessment by the ECB of the request to enter into a close cooperation No access
            5. Article 5 Decision establishing a close cooperation No access
            1. Article 6 Suspension or termination No access
            2. Article 7 Entry into force No access
            3. ANNEX I TEMPLATE REQUEST TO ENTER INTO A CLOSE COOPERATION PURSUANT TO ARTICLE 7 OF REGULATION (EU) No 1024/2013 No access
            4. ANNEX II TEMPLATE STATEMENT PURSUANT TO ARTICLE 7(2)(c) OF REGULATION (EU) No 1024/2013 No access
            5. Appendix No access
          1. Article 1 Entities subject to the comprehensive assessment No access
          2. Article 2 Investigatory powers No access
          3. Article 3 Entry into force No access
          4. ANNEX No access
          5. INSTITUTIONS INCLUDED IN THE COMPREHENSIVE ASSESSMENT No access
          1. Article 1 Appointment of ECB representatives to the Supervisory Board No access
          2. Article 2 Entry into force No access
            1. Article 1 Supplementary nature No access
            1. Article 2 Establishment No access
            2. Article 3 Composition No access
            3. Article 4 Appointment No access
            4. Article 5 Chair and Vice-Chair No access
            5. Article 6 Secretary of the Administrative Board No access
            1. Article 7 Notice of review No access
            2. Article 8 Rapporteur No access
            3. Article 9 Suspensory effect No access
            1. Article 10 Scope of the review of the Administrative Board No access
            2. Article 11 Admissibility of the request for review No access
            3. Article 12 Directions No access
            4. Article 13 Failure to comply No access
            5. Article 14 Hearing No access
            6. Article 15 Evidence No access
            1. Article 16 Opinion on the review No access
            2. Article 17 Preparation of a new draft decision No access
            3. Article 18 Notification No access
            1. Article 19 Recourse to the Court of Justice No access
            1. Article 20 Access to files No access
            2. Article 21 Costs orders No access
            3. Article 22 Confidentiality and professional secrecy No access
            4. Article 23 Supplementary rules No access
            5. Article 24 Entry into force No access
          1. Article 1 Scope No access
          2. Article 2 Definitions No access
          3. Article 3 Remittance dates No access
          4. Article 4 Data quality checks No access
          5. Article 5 Qualitative information No access
          6. Article 6 Specification of the transmission format No access
          7. Article 7 First reporting reference dates No access
          8. Article 8 Transitional provision No access
          9. Article 9 Addressees No access
          1. Article 1 Scope and objectives No access
          2. Article 2 Definitions No access
          3. Article 3 Organisational separation No access
          4. Article 4 Professional secrecy No access
          5. Article 5 General principles for the access to information between policy functions and classification No access
          6. Article 6 Exchange of confidential information between policy functions No access
          7. Article 7 Exchange of confidential information involving personal data No access
          8. Article 8 Exchange of confidential information in emergency situations No access
          9. Article 9 Final provision No access
          10. ANNEX No access
          11. EXCERPT FROM THE ECB CONFIDENTIALITY REGIME No access
          1. Article 1 Establishment and composition No access
          2. Article 2 Appointment of members No access
          3. Article 3 Functioning No access
          4. Article 4 Responsibilities No access
          5. Article 5 Information about the implementation of the advice No access
          6. Article 6 Entry into force No access
          1. Article 1 Amendments No access
          2. Article 2 Entry into force No access
          1. Article 1 Subject matter and scope No access
          2. Article 2 Definitions No access
          3. Article 3 Templates for the reporting of the fee factors to NCAs by the fee debtors No access
          4. Article 4 Remittance dates No access
          5. Article 5 Data quality checks No access
          6. Article 6 Reporting frequency and first reporting reference date No access
          7. Article 7 Methodology for the calculation of the fee factors No access
          8. Article 8 Determination of fee factors by the ECB in the event of non-provision or non-submission of required corrections or modifications No access
          9. Article 9 Simplified amendment procedure No access
          10. Article 10 Entry into force No access
          11. ANNEX I No access
          12. ANNEX II No access
          1. I. ACCOUNTABILITY, ACCESS TO INFORMATION, CONFIDENTIALITY No access
          2. II. SELECTION PROCEDURES No access
          3. III. INVESTIGATIONS No access
          4. IV. CODE OF CONDUCT No access
          5. V. ADOPTION OF ACTS BY THE ECB No access
          6. VI. FINAL PROVISIONS No access
            1. 1. Reports No access
            2. 2. Hearings and exchanges of views No access
            3. 3. Responding to questions No access
          2. II. SELECTION AND APPOINTMENT PROCEDURES No access
          3. III. FINAL PROVISIONS No access
            1. Article 1 Supplementary nature No access
            1. Article 2 Supervisory Board meetings No access
            2. Article 3 Attendance at Supervisory Board meetings No access
            3. Article 4 Organisation of Supervisory Board meetings No access
            4. Article 5 Access to information No access
            5. Article 6 Voting No access
            6. Article 7 Emergencies No access
            7. Article 8 Delegation of power No access
            1. Article 9 The Steering Committee No access
            2. Article 10 Mandate No access
            3. Article 11 Composition and appointment of members No access
            4. Article 12 Steering Committee meetings No access
            1. Article 13 Entry into force No access
            2. ANNEX ROTATION SYSTEM No access
          1. Article 1 Scope of application No access
          2. Article 2 Basic principles No access
          3. Article 3 Separation from the monetary policy function No access
          4. Article 4 Independence No access
          5. Article 5 Rules on private financial transactions No access
          6. Article 6 Wealth declaration No access
          7. Article 7 Opinion of the ECB Ethics Committee No access
          8. Article 8 Cooling-off periods No access
          9. Article 9 Conflicts of interest No access
          10. Article 10 Gifts or other benefits No access
          11. Article 11 Acceptance of invitations and related payments No access
          12. Article 12 Activities undertaken in a personal capacity No access
          13. Article 13 Gainful employment or other duties of a spouse or recognised partner No access
          14. Article 14 Professional secrecy No access
          15. Article 15 Information on conflicting national legal provisions No access
          16. Article 16 Entry into force No access
            1. EXPLANATORY MEMORANDUM No access
          2. II. GENERAL CONSIDERATIONS No access
              1. Definition of periodic penalty payments No access
              1. Scope No access
              2. Publication No access
              1. Failure to perform a duty No access
              1. Competence to initiate an infringement procedure No access
              2. Relationship with national competence No access
            5. Article 4 a Specific rules regarding the upper limits of sanctions imposed by the ECB in the exercise of its supervisory tasks No access
              1. Decision-making procedure No access
              2. Review procedure No access
              1. Time limits No access
          4. Recommendation for a: No access
        1. ARTICLE 1 No access
        1. ARTICLE 2 No access
        1. ARTICLE 3 Transfer of contributions No access
        2. ARTICLE 4 Compartments No access
        3. ARTICLE 5 Functioning of the compartments No access
        4. ARTICLE 6 Transfer of additional ex ante contributions and target level No access
        5. ARTICLE 7 Temporary transfer between compartments No access
        6. ARTICLE 8 Contracting Parties whose currency is not the euro No access
        7. ARTICLE 9 Respect of the general principles and objectives of resolution No access
        8. ARTICLE 10 Compliance No access
        1. ARTICLE 11 Ratification, approval or acceptance and entry into force No access
        2. ARTICLE 12 Application No access
        3. ARTICLE 13 Accession No access
        4. ARTICLE 14 Dispute settlement No access
        5. ARTICLE 15 Compensation No access
          1. Declaration no. 1: No access
          2. Declaration no. 2: No access
        1. Article 1 Subject matter No access
        2. Article 2 Scope No access
        3. Article 3 Definitions No access
        4. Article 4 Participating Member States No access
        5. Article 5 Relation to Directive 2014/59/EU and applicable national law No access
        6. Article 6 General principles No access
        7. Article 7 Division of tasks within the SRM No access
            1. Article 8 Resolution plans drawn up by the Board No access
            2. Article 9 Resolution plans drawn up by national resolution authorities No access
            3. Article 10 Assessment of resolvability No access
            4. Article 11 Simplified obligations for certain institutions No access
            5. Article 12 Minimum requirement for own funds and eligible liabilities No access
            1. Article 13 Early intervention No access
            1. Article 14 Resolution objectives No access
            2. Article 15 General principles governing resolution No access
            3. Article 16 Resolution of financial institutions and parent undertakings No access
            4. Article 17 Order of priority of claims No access
            5. Article 18 Resolution procedure No access
            6. Article 19 State aid and Fund aid No access
            7. Article 20 Valuation for the purposes of resolution No access
            8. Article 21 Write-down and conversion of capital instruments No access
            9. Article 22 General principles of resolution tools No access
            10. Article 23 Resolution Scheme No access
            11. Article 24 Sale of business tool No access
            12. Article 25 Bridge institution tool No access
            13. Article 26 Asset separation tool No access
            14. Article 27 Bail-in tool No access
            15. Article 28 Monitoring by the Board No access
            16. Article 29 Implementation of decisions under this Regulation No access
            1. Article 30 Obligation to cooperate and information exchange within the SRM No access
            2. Article 31 Cooperation within the SRM No access
            3. Article 32 Consultation of, and cooperation with, non-participating Member States and third countries No access
            4. Article 33 Recognition and enforcement of third-country resolution proceedings No access
            1. Article 34 Requests for information No access
            2. Article 35 General investigations No access
            3. Article 36 On-site inspections No access
            4. Article 37 Authorisation by a judicial authority No access
            1. Article 38 Fines No access
            2. Article 39 Periodic penalty payments No access
            3. Article 40 Hearing of the persons subject to the proceedings No access
            4. Article 41 Disclosure, nature, enforcement and allocation of fines and periodic penalty payments No access
          1. Article 42 Legal status No access
          2. Article 43 Composition No access
          3. Article 44 Compliance with Union law No access
          4. Article 45 Accountability No access
          5. Article 46 National parliaments No access
          6. Article 47 Independence No access
          7. Article 48 Seat No access
          1. Article 49 Participation in plenary sessions No access
          2. Article 50 Tasks No access
          3. Article 51 Meeting of the plenary session of the Board No access
          4. Article 52 General provisions on the decision-making process No access
          1. Article 53 Participation in the executive sessions No access
          2. Article 54 Tasks No access
          3. Article 55 Decision-making No access
          1. Article 56 Appointment and tasks No access
            1. Article 57 Resources No access
            2. Article 58 Budget No access
            3. Article 59 Part I of the budget on the administration of the Board No access
            4. Article 60 Part II of the budget on the Fund No access
            5. Article 61 Establishment and implementation of the budget No access
            6. Article 62 Internal audit and control No access
            7. Article 63 Implementation of the budget, presentation of accounts and discharge No access
            8. Article 64 Financial rules No access
            9. Article 65 Contributions to the administrative expenditures of the Board No access
            10. Article 66 Anti-fraud measures No access
              1. Article 67 General provisions No access
              2. Article 68 Requirement to establish resolution financing arrangements No access
              3. Article 69 Target level No access
              4. Article 70 Ex-ante contributions No access
              5. Article 71 Extraordinary ex-post contributions No access
              6. Article 72 Voluntary borrowing between resolution financing arrangements No access
              7. Article 73 Alternative funding means No access
              8. Article 74 Access to financial facility No access
              1. Article 75 Investments No access
              1. Article 76 Mission of the Fund No access
              2. Article 77 Use of the Fund No access
              3. Article 78 Mutualisation of national financing arrangements in the case of group resolution involving institutions in non-participating Member States No access
              4. Article 79 Use of deposit guarantee schemes in the context of resolution No access
          1. Article 80 Privileges and Immunities No access
          2. Article 81 Language arrangements No access
          3. Article 82 Staff No access
          4. Article 83 Staff exchange No access
          5. Article 84 Internal committees No access
          6. Article 85 Appeal Panel No access
          7. Article 86 Actions before the Court of Justice No access
          8. Article 87 Liability of the Board No access
          9. Article 88 Professional secrecy and exchange of information No access
          10. Article 89 Data protection No access
          11. Article 90 Access to documents No access
          12. Article 91 Security rules on the protection of classified and sensitive non-classified information No access
          13. Article 92 Court of Auditors No access
        1. Article 93 Exercise of the delegation No access
        2. Article 94 Review No access
        3. Article 95 Amendment to Regulation (EU) No 1093/2010 No access
        4. Article 96 Replacement of national resolution financing arrangements No access
        5. Article 97 Headquarters Agreement and operating conditions No access
        6. Article 98 Start of the Board's activities No access
        7. Article 99 Entry into force No access
      1. Article 1 No access
      2. Article 2 No access

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