The European Central Bank (ECB) has issued a press release stating that its Governing Council has adopted a Recommendation to amend Article 22 of the Statute of the European System of Central Banks and of the European Central Bank.
The revised Article 22 would read: “The ECB and national central banks may provide facilities, and the ECB may make regulations, to ensure efficient and sound clearing and payment systems, and clearing systems for financial instruments, within the Union and with other countries.”
The press release states that the amendment would provide the ECB with a clear legal competence in the area of central clearing, which would pave the way for the Eurosystem to exercise the powers that are foreseen for central banks issuing a currency under the review of the European Market Infrastructure Regulation proposed by the European Commission.
The Recommendation was sent to the European Parliament and the Council for the adoption of a Decision amending Article 22. The European Commission will issue an opinion on the Recommendation.
View ECB recommends amending Article 22 of its Statute, 23 June 2017