The European Central Bank (ECB) has published two consultative documents in relation to the exercise of options and discretions available under EU law which seek to further harmonise the supervision of significant banks.
The two consultative documents concern a:
- draft ECB Regulation on the exercise of options and discretions available in EU law. The draft Regulation determines the exercise of options and discretions in EU law and mandated to Member State competent authorities, concerning prudential requirements for credit institutions; and
- draft ECB guide on options and discretions available in EU law. The draft guide defines the ECB’s approach concerning the exercise of options and discretions provided for in the EU legislative framework and regarding the prudential supervision of credit institutions. The draft guide aims to provide coherence, effectiveness and transparency on the supervisory policies that will be applied in supervisory processes within the Single Supervisory Mechanism.
Alongside these consultative documents the ECB has also published an explanatory memorandum on the exercise of options and discretions under EU law and a Q&A document on the consultation.
The deadline for comments on the consultative documents is 16 December 2015. The ECB will hold a public hearing on the consultation in Frankfurt on 11 December 2015.
View Draft ECB Regulation on the exercise of options and discretions, 11 November 2015