There was published in the Official Journal of the European Union the following European Central Bank (ECB) documents:

  • Guideline (EU) 2017/697 of the European Central Bank of 4 April 2017 on the exercise of options and discretions available in Union law by national competent authorities (NCAs) in relation to less significant institutions (the guideline); and
  • Recommendation of the European Central Bank of 4 April 2017 on common specifications for the exercise of some options and discretions available in Union law by NCAs in relation to less significant institutions (the recommendation).

The guideline and recommendation are addressed to NCAs and relate to the exercise of options and national discretions available in EU law, and affect banks that are directly supervised by NCAs. The ECB intends to further harmonise the way banks are supervised by NCAs in the 19 countries to which the Single Supervisory Mechanism applies. The aim is to ensure a level playing field and the smooth functioning of the euro area banking system as a whole. The guideline took effect on 14 April 2017. NCAs must comply with the guideline from 1 January 2018, except for Article 7 (which relates to liquidity), with which NCAs must comply from 1 January 2019.

View Guideline (EU) 2017/697 of the European Central Bank of 4 April 2017 on the exercise of options and discretions available in Union law by national competent authorities in relation to less significant institutions, 13 April 2017

View Recommendation of the European Central Bank of 4 April 2017 on common specifications for the exercise of some options and discretions available in Union law by national competent authorities in relation to less significant institutions, 13 April 2017