ECB Governing Council Oct. Decisions


On Oct. 18, ECB issued decisions taken by its Governing council.


  • ECB issued Governing Council decisions, in addition to decisions setting interest rates.
  • Market Operations
  • On Sep. 27, 2024, Council adopted revised version of the emergency liquidity assistance (ELA) agreement, containing more detailed information on key elements.
  • Follows ECB Jun. 2017 issued emergency liquidity assistance agreement, see #32702.
  • Introduces compliance with leverage ratio as a solvency criterion for provision of ELA to credit institutions, and introduces key principle that ELA collateral should sufficiently protect the national central bank against risks emerging from ELA operations.
  • The agreement will next be reviewed in 2027.
  • Market Infrastructure and Payments
  • On Oct. 4, 2024, Governing Council endorsed a draft regulation recasting ECB regulation (EU) No 795/2014 on oversight requirements for systemically important payment systems (SIPS Regulation), approved launch of 6-week public consultation.
  • As SIPS regulation has been amended several times, recast is needed for clarity.
  • ECB issued draft recast regulation, along with version showing tracked changes.
  • The deadline for submitting comments is 18:00 CET on Nov. 29, 2024.
  • Corporate Governance
  • On Oct. 4, 2024, Governing Council took note of positive evaluation of third term of Eurosystem Procurement Coordination Office (EPCO) since its establishment.
  • And approved mandate for its fourth term, from 2025 to 2029, LUX CB was recently designated by the Governing Council to continue hosting EPCO for that period.
  • On Oct. 8, 2024, Governing Council took note of update allocation of responsibilities of ECB representatives on Supervisory Board in view of three new members.
  • Statistics
  • On Sep. 27, 2024, Governing Council approved the 2023 report on protecting the confidentiality of individual statistical information collected by the ECB.
  • On Oct. 10, 2024, adopted Guideline ECB/2024/27 amending Guideline (EU) 2021/831 on statistical information to be reported on financial intermediaries other than monetary financial institutions, amending Guideline aligns some provisions.
  • Concerning transmission of aggregated investment fund statistics from national central banks (NCBs) to ECB with those in Regulation (EU) 2024/1988 of ECB, Jun. 27, 2024.
  • Concerning statistics on investment funds and repealing Decision (EU) 2015/32 (ECB/2014/62) (ECB 2024/17), also introduces transmission of fund-by-fund data from the NCBs to the ECB, Guideline will be issued in due course on EUR-Lex.

Regulators ECB
Entity Types B/D; Bank; BHC; Fiduciary; MSB; SIFI
Reference Rp, CP, PR, 10/18/2024
Functions Compliance; Financial; Legal; Operations; Reporting; Risk; Settlement; Technology; Treasury
Countries European Union; Cross-Border
Category
State
Products Banking; Cryptocurrency; Equity; Payments; Securities
Regions EMEA
Rule Type Final
Rule Date 10/18/2024
Effective Date 11/29/2024
Rule Id 230518
Linked to Rule :32702
Reg. Last Update 10/18/2024
Report Section EU

Last substantive update on 10/23/2024