Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
April 19, 2022
Euro liquidity lines with non-euro area central banks
On 28 March 2022, the ECB announced an extension of existing temporary repo lines with non-euro area central banks until 15 January 2023 following requests received from central banks of Hungary, Albania , the Republic of North Macedonia and the Republic of San Marino. She also announced the establishment of a new swap line between the ECB and Narodowy Bank Polski. A related press release is available on the ECB’s website.
Adjustments to the allocation of the overall Eurosystem limit for securities lending against cash collateral between national central banks (NCBs) and the ECB
On 31 March 2022, the Governing Council decided to reallocate the Eurosystem’s overall limit of €150 billion for securities lending against cash collateral between the NCBs and the ECB, based on a combination of past use of securities lending facilities and Eurosystem members’ shares in assets purchased under the asset purchase program/pandemic emergency purchase programme. The related information is updated accordingly in the securities lending section of the ECB’s website.
Macroprudential policy and financial stability
Report on financial integration and structure in the euro area
On 1 April 2022, the Governing Council approved a report entitled “Financial integration and structure in the euro area” and authorized its publication. This is the second edition of this biennial publication, which focuses on financial integration, changes in financial structure and the process of financial development and modernization. It also examines some financial sector policies, including those related to the European Banking Union and the Capital Markets Union. The report and the corresponding press release are available on the ECB’s website.
Advice on legislation
ECB Opinion on a proposal for a regulation amending Regulation (EU) No 549/2013 on the European system of national and regional accounts in the European Union
On 25 March 2022, the Governing Council adopted Opinion CON/2022/12 at the request of the European Parliament and the Council of the European Union.
ECB Opinion on the authorization of credit institutions to provide crowdfunding services in Bulgaria
On 28 March 2022, the Board of Governors adopted opinion CON/2022/13 at the request of the Bulgarian Minister of Finance.
ECB Opinion on a proposal for a directive of the European Parliament and of the Council on measures to ensure a high common level of cybersecurity in the Union, repealing Directive (EU) 2016/1148
On 11 April 2022, the Governing Council adopted opinion CON/2022/14.
Recommendation to the Council of the European Union on the external auditors of Lietuvos bankas
On 29 March 2022, the Governing Council adopted Recommendation ECB/2022/15 to the Council of the European Union concerning the external auditors of Lietuvos bankas.
Recommendation to the Council of the European Union on the external auditors of Národná banka Slovenska
On 5 April 2022, the Governing Council adopted Recommendation ECB/2022/16 to the Council of the European Union concerning the external auditors of Národná banka Slovenska.
ECB Banking Supervision
Update of the ECB’s policies on options and prudential powers
On 25 March 2022, the Governing Council did not object to a proposal by the Supervisory Board to adopt policy updates describing how the ECB exercises options and discretions under the bank supervision. The revisions follow a public consultation that ended on August 30, 2021. The updated policies are set out in four instruments: (i) an ECB guide containing policy guidance for joint supervisory teams during the the exercise of options and discretionary powers on a case-by-case basis in relation to important institutions; (ii) Regulation ECB/2022/14 amending Regulation ECB/2016/4 on the exercise of options and discretions available under Union law; (iii) Recommendation ECB/2022/13 amending Recommendation ECB/2017/10 on common specifications for the exercise of certain options and discretions provided for by Union law by competent national authorities in respect of smaller institutions; and (iv) Guideline ECB/2022/12 amending Guideline ECB/2017/9 on the exercise of options and discretions provided for by Union law by national competent authorities in respect of less significant institutions . The related press release is available on the ECB Banking Supervision website.
Letter to banks on leveraged finance
On 28 March 2022, the Governing Council did not object to a proposal by the Supervisory Board to send a letter to the CEOs of significant institutions entitled “Leverage transactions – supervisory expectations regarding the design and operation risk appetite frameworks and high levels of risk taking”. and its publication. The letter is available on the ECB Banking Supervision website.
Compliance with European Banking Authority (EBA) guidelines on a common assessment methodology for granting authorization as a credit institution under Article 8(5) of Directive 2013/ 36/EU (EBA/GL/2021/12)
On 6 April 2022, the Governing Council did not object to a proposal by the Supervisory Board to notify the EBA that the ECB complies with the EBA guidelines on a common assessment methodology for the authorization as a credit institution pursuant to Article 8(5) of Directive 2013/36/EU (EBA/GL/2021/12). The compliance of the ECB is declared within the limit and without prejudice to the national provisions transposing Directive 2013/36/EU, and within the limits of the prudential supervision mandate of the ECB, as defined in Regulation (EU) No 1024 /2013 of 15 October 2013 assigning specific tasks to the ECB concerning policies relating to the prudential supervision of credit institutions. Where the procedures envisaged in these guidelines relate to supervisory tasks not entrusted to the ECB, the decisions of the ECB may need to be based on findings and assessments provided to the ECB by other authorities.