# Official Journal L 224/2019

| | ISSN 1977-0677 |
| --- | --- |
| Official Journal
  of the European Union | L 224 |
| | |
| English edition | Legislation | Volume 6228 August 2019 |

ISSN 1977-0677

Official Journal

of the European Union

L 224

English edition

Legislation

Volume 6228 August 2019

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| Contents | | II   Non-legislative acts | page |
| --- | --- | --- | --- |
| | | DECISIONS |
| | * | Decision (EU) 2019/1376 of the European Central Bank of 23 July 2019 on delegation of the power to adopt decisions on passporting, acquisition of qualifying holdings and withdrawal of authorisations of credit institutions (ECB/2019/23) | 1 |
| | * | Decision (EU) 2019/1377 of the European Central Bank of 31 July 2019 nominating heads of work units to adopt delegated decisions on passporting, acquisition of qualifying holdings and withdrawal of authorisations of credit institutions (ECB/2019/26) | 6 |
| | * | Decision (EU) 2019/1378 of the European Central Bank of 9 August 2019 amending Decision ECB/2014/16 concerning the establishment of an Administrative Board of Review and its Operating Rules (ECB/2019/27) | 9 |

Contents

II   Non-legislative acts

page

DECISIONS

*

Decision (EU) 2019/1376 of the European Central Bank of 23 July 2019 on delegation of the power to adopt decisions on passporting, acquisition of qualifying holdings and withdrawal of authorisations of credit institutions (ECB/2019/23)

1

*

Decision (EU) 2019/1377 of the European Central Bank of 31 July 2019 nominating heads of work units to adopt delegated decisions on passporting, acquisition of qualifying holdings and withdrawal of authorisations of credit institutions (ECB/2019/26)

6

*

Decision (EU) 2019/1378 of the European Central Bank of 9 August 2019 amending Decision ECB/2014/16 concerning the establishment of an Administrative Board of Review and its Operating Rules (ECB/2019/27)

9

| | | Corrigenda |
| --- | --- | --- |
| | * | Corrigendum to Rules of Procedure of the European Economic and Social Committee March 2019 ( OJ L 110, 25.4.2019 ) | 12 |

Corrigenda

*

Corrigendum to Rules of Procedure of the European Economic and Social Committee March 2019 ( OJ L 110, 25.4.2019 )

( OJ L 110, 25.4.2019 )

12

| EN | Acts whose titles are printed in light type are those relating to day-to-day management of agricultural matters, and are generally valid for a limited period.
  The titles of all other Acts are printed in bold type and preceded by an asterisk. |
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EN

Acts whose titles are printed in light type are those relating to day-to-day management of agricultural matters, and are generally valid for a limited period.

The titles of all other Acts are printed in bold type and preceded by an asterisk.

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II Non-legislative acts

DECISIONS

| 28.8.2019 | EN | Official Journal of the European Union | L 224/1 |
| --- | --- | --- | --- |

28.8.2019

EN

Official Journal of the European Union

L 224/1

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DECISION (EU) 2019/1376 OF THE EUROPEAN CENTRAL BANK

of 23 July 2019

on delegation of the power to adopt decisions on passporting, acquisition of qualifying holdings and withdrawal of authorisations of credit institutions (ECB/2019/23)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (1), and in particular Article 4(1)(a), (b), (c) and (d), and Articles 4(3), 6(4), 14(3), 14(5), 15(3), and 17(1) thereof,

Having regard to Decision (EU) 2017/933 of the European Central Bank of 16 November 2016 on a general framework for delegating decision-making powers for legal instruments related to supervisory tasks (ECB/2016/40) (2), and in particular Article 4 thereof,

Whereas:

| (1) | Within the framework of Article 6 of Regulation (EU) No 1024/2013, the European Central Bank (ECB) carries out the exclusive task to supervise credit institutions with the aim to ensure a consistent application of supervisory standards, to foster financial stability and to ensure a level playing field. |
| --- | --- |

(1)

Within the framework of Article 6 of Regulation (EU) No 1024/2013, the European Central Bank (ECB) carries out the exclusive task to supervise credit institutions with the aim to ensure a consistent application of supervisory standards, to foster financial stability and to ensure a level playing field.

| (2) | Pursuant to Article 4(1)(a) of Regulation (EU) No 1024/2013, the ECB is exclusively competent to withdraw authorisations of credit institutions established in the participating Member States. |
| --- | --- |

(2)

Pursuant to Article 4(1)(a) of Regulation (EU) No 1024/2013, the ECB is exclusively competent to withdraw authorisations of credit institutions established in the participating Member States.

| (3) | Pursuant to Article 4(1)(c) of Regulation (EU) No 1024/2013, the ECB is exclusively competent to assess notifications of the acquisition and disposal of qualifying holdings in credit institutions, except in the case of a bank resolution. |
| --- | --- |

(3)

Pursuant to Article 4(1)(c) of Regulation (EU) No 1024/2013, the ECB is exclusively competent to assess notifications of the acquisition and disposal of qualifying holdings in credit institutions, except in the case of a bank resolution.

| (4) | Pursuant to Article 4(1)(b) of Regulation (EU) No 1024/2013, the ECB is exclusively competent to carry out, for prudential supervisory purposes, the tasks which the competent authority of the home Member State has under the relevant Union law for significant credit institutions established in a participating Member State, which wish to establish a branch or provide cross-border services in a non-participating Member State. In addition, under Article 17(1) of Regulation (EU) No 1024/2013 and under Article 11(1) and (3) of Regulation (EU) No 468/2014 of the European Central Bank (ECB/2014/17) (3), any significant supervised entity wishing to establish a branch within the territory of another participating Member State must notify the national competent authority of the participating Member State where the significant supervised entity has its head office, of its intention. Under Article 11(3) of Regulation (EU) No 468/2014 (ECB/2014/17), where no decision to the contrary is taken by the ECB within two months of receipt of that notification, the branch may be established and commence its activities. |
| --- | --- |

(4)

Pursuant to Article 4(1)(b) of Regulation (EU) No 1024/2013, the ECB is exclusively competent to carry out, for prudential supervisory purposes, the tasks which the competent authority of the home Member State has under the relevant Union law for significant credit institutions established in a participating Member State, which wish to establish a branch or provide cross-border services in a non-participating Member State. In addition, under Article 17(1) of Regulation (EU) No 1024/2013 and under Article 11(1) and (3) of Regulation (EU) No 468/2014 of the European Central Bank (ECB/2014/17) (3), any significant supervised entity wishing to establish a branch within the territory of another participating Member State must notify the national competent authority of the participating Member State where the significant supervised entity has its head office, of its intention. Under Article 11(3) of Regulation (EU) No 468/2014 (ECB/2014/17), where no decision to the contrary is taken by the ECB within two months of receipt of that notification, the branch may be established and commence its activities.

| (5) | Pursuant to Article 4(1)(b) and (d) of Regulation (EU) No 1024/2013 in conjunction with Article 34(1)(d) of Directive 2013/36/EU of the European Parliament and of the Council (4), the ECB is exclusively competent to carry out the task, which the competent authority of the home Member State has under relevant Union law, of granting consent to a (significant) credit institution that has declared its intention to jointly and severally guarantee the commitments entered into by its subsidiary financial institution, which intends to carry out activities listed in Annex I of Directive 2013/36/EU in a participating Member State or in another Member State, either by establishing a branch or by providing services. |
| --- | --- |

(5)

Pursuant to Article 4(1)(b) and (d) of Regulation (EU) No 1024/2013 in conjunction with Article 34(1)(d) of Directive 2013/36/EU of the European Parliament and of the Council (4), the ECB is exclusively competent to carry out the task, which the competent authority of the home Member State has under relevant Union law, of granting consent to a (significant) credit institution that has declared its intention to jointly and severally guarantee the commitments entered into by its subsidiary financial institution, which intends to carry out activities listed in Annex I of Directive 2013/36/EU in a participating Member State or in another Member State, either by establishing a branch or by providing services.

| (6) | The ECB, as the competent authority, is required to adopt a substantial number of decisions on passporting, acquisitions of qualifying holdings and withdrawals of authorisations of credit institutions each year. To facilitate the decision-making process, a delegation decision is necessary in relation to the adoption of such decisions which the ECB has to take on a regular basis and which entail only limited discretion. The Court of Justice of the European Union has recognised delegation of authority to be necessary to enable an institution required to adopt a considerable number of decisions to perform its duties. Similarly, it has recognised the need to ensure that decision-making bodies are able to function as a principle inherent to all institutional systems (5). |
| --- | --- |

(6)

The ECB, as the competent authority, is required to adopt a substantial number of decisions on passporting, acquisitions of qualifying holdings and withdrawals of authorisations of credit institutions each year. To facilitate the decision-making process, a delegation decision is necessary in relation to the adoption of such decisions which the ECB has to take on a regular basis and which entail only limited discretion. The Court of Justice of the European Union has recognised delegation of authority to be necessary to enable an institution required to adopt a considerable number of decisions to perform its duties. Similarly, it has recognised the need to ensure that decision-making bodies are able to function as a principle inherent to all institutional systems (5).

| (7) | Delegation of decision-making powers should be limited and proportionate, and the scope of the delegation should be clearly defined. |
| --- | --- |

(7)

Delegation of decision-making powers should be limited and proportionate, and the scope of the delegation should be clearly defined.

| (8) | Decision (EU) 2017/933 (ECB/2016/40) specifies the procedure to be followed for adopting delegation decisions concerning supervision and the persons who may be delegated decision-making powers. That Decision does not affect the ECB's exercise of its supervisory tasks and is without prejudice to the Supervisory Board's competence to propose complete draft decisions to the Governing Council. |
| --- | --- |

(8)

Decision (EU) 2017/933 (ECB/2016/40) specifies the procedure to be followed for adopting delegation decisions concerning supervision and the persons who may be delegated decision-making powers. That Decision does not affect the ECB's exercise of its supervisory tasks and is without prejudice to the Supervisory Board's competence to propose complete draft decisions to the Governing Council.

| (9) | Where the criteria for the adoption of a delegated decision, as laid down in this Decision, are not met, decisions should be adopted in accordance with the non-objection procedure set out in Article 26(8) of Regulation (EU) No 1024/2013 and further specified in Article 13g of Decision ECB/2004/2 (6). Furthermore, the non-objection procedure should also be used if the heads of work units have concerns regarding the fulfilment of assessment criteria due to the complexity of the assessment. |
| --- | --- |

(9)

Where the criteria for the adoption of a delegated decision, as laid down in this Decision, are not met, decisions should be adopted in accordance with the non-objection procedure set out in Article 26(8) of Regulation (EU) No 1024/2013 and further specified in Article 13g of Decision ECB/2004/2 (6). Furthermore, the non-objection procedure should also be used if the heads of work units have concerns regarding the fulfilment of assessment criteria due to the complexity of the assessment.

| (10) | ECB supervisory decisions may be subject to administrative review pursuant to Article 24 of Regulation (EU) No 1024/2013 and as further specified in Decision ECB/2014/16 (7). In the event of such administrative review, the Supervisory Board should take into account the opinion of the Administrative Board of Review and submit a new draft decision to the Governing Council for adoption under the non-objection procedure, |
| --- | --- |

(10)

ECB supervisory decisions may be subject to administrative review pursuant to Article 24 of Regulation (EU) No 1024/2013 and as further specified in Decision ECB/2014/16 (7). In the event of such administrative review, the Supervisory Board should take into account the opinion of the Administrative Board of Review and submit a new draft decision to the Governing Council for adoption under the non-objection procedure,

HAS ADOPTED THIS DECISION:

Article 1

Definitions

For the purposes of this Decision, the following definitions shall apply:

| (1) | ‘passporting decision’ means a decision of the ECB on the establishment of a branch by a significant supervised entity in a participating Member State or in another Member State based on national law transposing Article 35(3) of Directive 2013/36/EU, in conjunction with Article 17(1) of Regulation (EU) No 1024/2013 and Articles 11 and 17 of Regulation (EU) No 468/2014 (ECB/2014/17).
  For the purposes of this Decision, a passporting decision also includes a decision of the ECB, in accordance with national law transposing Article 34(1)(d) of Directive 2013/36/EU, which grants consent to the declaration of a parent undertaking or undertakings to jointly and severally guarantee the commitments entered into by their subsidiary financial institution that intends to carry out activities listed in Annex I of Directive 2013/36/EU in a participating Member State or in another Member State, either by establishing a branch or by providing services; |
| --- | --- |

(1)

‘passporting decision’ means a decision of the ECB on the establishment of a branch by a significant supervised entity in a participating Member State or in another Member State based on national law transposing Article 35(3) of Directive 2013/36/EU, in conjunction with Article 17(1) of Regulation (EU) No 1024/2013 and Articles 11 and 17 of Regulation (EU) No 468/2014 (ECB/2014/17).

For the purposes of this Decision, a passporting decision also includes a decision of the ECB, in accordance with national law transposing Article 34(1)(d) of Directive 2013/36/EU, which grants consent to the declaration of a parent undertaking or undertakings to jointly and severally guarantee the commitments entered into by their subsidiary financial institution that intends to carry out activities listed in Annex I of Directive 2013/36/EU in a participating Member State or in another Member State, either by establishing a branch or by providing services;

| (2) | ‘branch’ means a branch as defined in point (17) of Article 4(1) of Regulation (EU) No 575/2013 of the European Parliament and of the Council (8); |
| --- | --- |

(2)

‘branch’ means a branch as defined in point (17) of Article 4(1) of Regulation (EU) No 575/2013 of the European Parliament and of the Council (8);

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| (3) | ‘qualifying holding decision’ means a decision of the ECB on the acquisition of qualifying holdings in a supervised entity (target entity) pursuant to national law transposing Article 22 of Directive 2013/36/EU in conjunction with Article 15 of Regulation (EU) No 1024/2013; |
| --- | --- |

(3)

‘qualifying holding decision’ means a decision of the ECB on the acquisition of qualifying holdings in a supervised entity (target entity) pursuant to national law transposing Article 22 of Directive 2013/36/EU in conjunction with Article 15 of Regulation (EU) No 1024/2013;

| (4) | ‘credit institution’ means a credit institution as defined in point 1 of Article 4(1) of Regulation (EU) No 575/2013; |
| --- | --- |

(4)

‘credit institution’ means a credit institution as defined in point 1 of Article 4(1) of Regulation (EU) No 575/2013;

| (5) | ‘withdrawal decision’ means a decision of the ECB on the withdrawal of the authorisation as credit institution based on national law transposing Article 18 of Directive 2013/36/EU in conjunction with Article 14(5) of Regulation (EU) No 1024/2013; |
| --- | --- |

(5)

‘withdrawal decision’ means a decision of the ECB on the withdrawal of the authorisation as credit institution based on national law transposing Article 18 of Directive 2013/36/EU in conjunction with Article 14(5) of Regulation (EU) No 1024/2013;

| (6) | ‘delegation decision’ and ‘delegated decision’ have the same meaning as in points (2) and (4) of Article 3 of Decision (EU) 2017/933 (ECB/2016/40), respectively; |
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(6)

‘delegation decision’ and ‘delegated decision’ have the same meaning as in points (2) and (4) of Article 3 of Decision (EU) 2017/933 (ECB/2016/40), respectively;

| (7) | ‘heads of work units’ means the heads of work units of the ECB to whom the power to adopt passporting, qualifying holding and withdrawal decisions is delegated; |
| --- | --- |

(7)

‘heads of work units’ means the heads of work units of the ECB to whom the power to adopt passporting, qualifying holding and withdrawal decisions is delegated;

| (8) | ‘non-objection procedure’ means the procedure set out in Article 26(8) of Regulation (EU) No 1024/2013, and further specified in Article 13g of Decision ECB/2004/2; |
| --- | --- |

(8)

‘non-objection procedure’ means the procedure set out in Article 26(8) of Regulation (EU) No 1024/2013, and further specified in Article 13g of Decision ECB/2004/2;

| (9) | ‘negative decision’ means a decision that does not or does not fully grant the authorisation as requested by the applicant, including negative decisions pursuant to Article 34(1)(d) and Article 35(3) of Directive 2013/36/EU. A decision with ancillary provisions such as conditions or obligations shall be considered as a negative decision unless such ancillary provisions: (a) ensure that the applicant fulfils the relevant legal requirements referred to in Articles 4(2) and 5(2) and Article 6(3) and (4) and have been agreed in writing; or (b) merely restate one or more of the existing requirements that the applicant has to comply with pursuant to provisions referred to in Articles 4(2) and 5(2) and Article 6(3) and (4) or require information on the fulfilment of one or more of such requirements; |
| --- | --- |

(9)

‘negative decision’ means a decision that does not or does not fully grant the authorisation as requested by the applicant, including negative decisions pursuant to Article 34(1)(d) and Article 35(3) of Directive 2013/36/EU. A decision with ancillary provisions such as conditions or obligations shall be considered as a negative decision unless such ancillary provisions: (a) ensure that the applicant fulfils the relevant legal requirements referred to in Articles 4(2) and 5(2) and Article 6(3) and (4) and have been agreed in writing; or (b) merely restate one or more of the existing requirements that the applicant has to comply with pursuant to provisions referred to in Articles 4(2) and 5(2) and Article 6(3) and (4) or require information on the fulfilment of one or more of such requirements;

| (10) | ‘significant supervised entity’ means a significant supervised entity as defined in point (16) of Article 2 of Regulation (EU) No 468/2014 (ECB/2014/17); |
| --- | --- |

(10)

‘significant supervised entity’ means a significant supervised entity as defined in point (16) of Article 2 of Regulation (EU) No 468/2014 (ECB/2014/17);

| (11) | ‘supervised entity’ means a supervised entity as defined in point (20) of Article 2 of Regulation (EU) No 468/2014 (ECB/2014/17); |
| --- | --- |

(11)

‘supervised entity’ means a supervised entity as defined in point (20) of Article 2 of Regulation (EU) No 468/2014 (ECB/2014/17);

| (12) | ‘group’ means a group of undertakings which consists of a parent undertaking and its subsidiaries, or undertakings linked to each other by a relationship within the meaning of Article 22 of Directive 2013/34/EU of the European Parliament and of the Council (9), including any sub-group thereof; |
| --- | --- |

(12)

‘group’ means a group of undertakings which consists of a parent undertaking and its subsidiaries, or undertakings linked to each other by a relationship within the meaning of Article 22 of Directive 2013/34/EU of the European Parliament and of the Council (9), including any sub-group thereof;

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| (13) | ‘national competent authority’ means a national competent authority as defined in point (2) of Article 2 of Regulation (EU) No 1024/2013; |
| --- | --- |

(13)

‘national competent authority’ means a national competent authority as defined in point (2) of Article 2 of Regulation (EU) No 1024/2013;

| (14) | ‘ECB guide’ means a document, adopted by the Governing Council upon a proposal from the Supervisory Board, which is published on the ECB's website and which gives guidance on the ECB's understanding of legal requirements. |
| --- | --- |

(14)

‘ECB guide’ means a document, adopted by the Governing Council upon a proposal from the Supervisory Board, which is published on the ECB's website and which gives guidance on the ECB's understanding of legal requirements.

Article 2

Subject matter and scope

1.   This Decision specifies the criteria for the delegation of decision-making powers to the heads of work units of the ECB for the adoption of passporting, qualifying holding and withdrawal decisions.

2.   The delegation of decision-making powers is without prejudice to the supervisory assessment to be performed for the purposes of taking passporting, qualifying holding and withdrawal decisions.

Article 3

Delegation of passporting, qualifying holding and withdrawal decisions

1.   In accordance with Article 4 of Decision (EU) 2017/933 (ECB/2016/40), the Governing Council hereby delegates to the heads of work units of the ECB, nominated by the Executive Board in accordance with Article 5 of that Decision, the power to adopt passporting, qualifying holding and withdrawal decisions.

2.   Passporting, qualifying holding and withdrawal decisions shall be adopted by means of a delegated decision if the relevant criteria for the adoption of delegated decisions, set out in Articles 4, 5 and 6, are fulfilled.

3.   Passporting, qualifying holding and withdrawal decisions shall not be adopted by means of a delegated decision if the complexity of the assessment requires that they are adopted under the non-objection procedure.

4.   Any delegation of decision-making powers shall apply both to the adoption of supervisory decisions and to the approval of positive assessments by the ECB where a supervisory decision is not required.

5.   Negative passporting, qualifying holding and withdrawal decisions shall not be adopted by means of a delegated decision.

6.   Where a passporting, qualifying holding or withdrawal decision may not be adopted by means of a delegated decision, it shall be adopted in accordance with the non-objection procedure.

Article 4

Criteria for the adoption of delegated qualifying holding decisions

1.   Qualifying holding decisions shall be taken by means of a delegated decision if any of the following criteria is met:

| (a) | the acquisition of a qualifying holding is the result of the addition or removal of an intermediate layer in the acquirer's group structure; |
| --- | --- |

(a)

the acquisition of a qualifying holding is the result of the addition or removal of an intermediate layer in the acquirer's group structure;

| (b) | the acquisition of a qualifying holding is the result of a shift of ownership in the target entity from one holding entity to another holding entity within the same group; |
| --- | --- |

(b)

the acquisition of a qualifying holding is the result of a shift of ownership in the target entity from one holding entity to another holding entity within the same group;

| (c) | the acquisition of a qualifying holding is the result of the increase of an existing qualifying holding, unless there have been material changes since the last assessment that affect at least one of the assessment criteria or the acquirer acquires control over the target entity. |
| --- | --- |

(c)

the acquisition of a qualifying holding is the result of the increase of an existing qualifying holding, unless there have been material changes since the last assessment that affect at least one of the assessment criteria or the acquirer acquires control over the target entity.

2.   The assessment of acquisitions of qualifying holdings shall be carried out in accordance with Article 23 of Directive 2013/36/EU as transposed into national law, also taking into consideration any applicable ECB guides or similar acts as may be issued by the ECB, as well as Guidelines of the European Supervisory Authorities (10).

Article 5

Criteria for the adoption of delegated withdrawal decisions

1.   Withdrawal decisions may be taken by means of a delegated decision if all of the following criteria are met:

| (a) | the decision is made on request of the supervised entity or due to a merger, which results in the supervised entity ceasing to exist; |
| --- | --- |

(a)

the decision is made on request of the supervised entity or due to a merger, which results in the supervised entity ceasing to exist;

| (b) | no deposits from the public remain with the supervised entity after the withdrawal has become effective; |
| --- | --- |

(b)

no deposits from the public remain with the supervised entity after the withdrawal has become effective;

| (c) | the withdrawal is linked to a reorganisation within a group. |
| --- | --- |

(c)

the withdrawal is linked to a reorganisation within a group.

2.   The assessment of withdrawal of authorisations shall be carried out in accordance with Article 18 of Directive 2013/36/EU as transposed into national law, also taking into consideration any applicable ECB guides or similar acts as may be issued by the ECB.

Article 6

Criteria for the adoption of delegated passporting decisions

1.   Passporting decisions pursuant to Article 11 and Article 17(1) of Regulation (EU) No 468/2014 (ECB/2014/17) on the establishment of a branch by a significant supervised entity may be taken by means of a delegated decision if the total assets of the branch as estimated in the programme of operations do not exceed 10 % of the total assets of the significant supervised entity.

2.   Passporting decisions pursuant to national law transposing Article 34(1)(d) of Directive 2013/36/EU which grant consent to the declaration of a parent undertaking or undertakings to jointly and severally guarantee the commitments entered into by their subsidiary financial institution may be taken by means of a delegated decision if the projected liability of the parent undertaking under the guarantee, pursuant to the business plan of activities conducted under the passporting decision, does not exceed 10 % of the total assets of the parent undertaking at individual level.

3.   The assessment of requests for passporting decisions pursuant to Article 11 and Article 17(1) of Regulation (EU) No 468/2014 (ECB/2014/17) shall be carried out in accordance with the relevant provisions of the national law transposing Article 35(3) of Directive 2013/36/EU, also taking into consideration any applicable ECB guides or similar acts as may be issued by the ECB.

4.   The assessment of requests for passporting decisions pursuant to national law transposing Article 34(1)(d) of Directive 2013/36/EU shall be carried out in accordance with the relevant provisions of the national law transposing Articles 34, 35 and 39 of Directive 2013/36/EU, also taking into consideration any applicable ECB guides or similar acts as may be issued by the ECB.

Article 7

Transitional provision

This Decision shall not apply in cases where a draft proposal for a qualifying holding or withdrawal decision was submitted by the national competent authority to the ECB, or where the notification regarding the significant supervised entity's intention to establish a branch or to guarantee the commitments entered into by their subsidiary financial institution was submitted by the national competent authority to the ECB prior to the entry into force of this Decision.

Article 8

Entry into force

This Decision shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

Official Journal of the European Union

Done at Frankfurt am Main, 23 July 2019.

The President of the ECB

Mario DRAGHI

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(1)  
  OJ L 287, 29.10.2013, p. 63.

1

(2)  
  OJ L 141, 1.6.2017, p. 14.

2

(3)  Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014 establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities (SSM Framework Regulation) (ECB/2014/17) (OJ L 141, 14.5.2014, p. 1).

3

(4)  Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27.6.2013, p. 338).

4

(5)  Judgment of the Court of Justice of 23 September 1986, AKZO Chemie v Commission, 5/85, ECLI:EU:C:1986:328, paragraph 37; and judgment of the Court of Justice of 26 May 2005, Carmine Salvatore Tralli v ECB, C-301/02 P, ECLI:EU:C:2005:306, paragraph 59.

5

AKZO Chemie

Commission

Carmine Salvatore Tralli

ECB

(6)  Decision ECB/2004/2 of 19 February 2004 adopting the Rules of Procedure of the European Central Bank (OJ L 80, 18.3.2004, p. 33).

6

(7)  Decision ECB/2014/16 of 14 April 2014 concerning the establishment of an Administrative Board of Review and its Operating Rules (OJ L 175, 14.6.2014, p. 47).

7

(8)  Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1).

8

(9)  Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC (OJ L 182, 29.6.2013, p. 19).

9

(10)  European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority. Joint Guidelines on the prudential assessment of acquisitions and increases of qualifying holdings in the financial sector, JC/GL/2016/01.

10

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| 28.8.2019 | EN | Official Journal of the European Union | L 224/6 |
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28.8.2019

EN

Official Journal of the European Union

L 224/6

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DECISION (EU) 2019/1377 OF THE EUROPEAN CENTRAL BANK

of 31 July 2019

nominating heads of work units to adopt delegated decisions on passporting, acquisition of qualifying holdings and withdrawal of authorisations of credit institutions (ECB/2019/26)

THE EXECUTIVE BOARD OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank and in particular Article 11.6 thereof,

Having regard to Decision (EU) 2017/933 of the European Central Bank of 16 November 2016 on a general framework for delegating decision-making powers for legal instruments related to supervisory tasks (ECB/2016/40) (1), and in particular Articles 4 and 5 thereof,

Having regard to Decision (EU) 2019/1376 of the European Central Bank of 23 July 2019 on delegation of the power to adopt decisions on passporting, acquisition of qualifying holdings and withdrawal of authorisations of credit institutions (ECB/2019/23) (2), and in particular Article 3 thereof,

Having regard to Decision ECB/2004/2 of 19 February 2004 adopting the Rules of Procedure of the European Central Bank (3), and in particular Article 10 thereof,

Whereas:

| (1) | To address the considerable number of decisions that the European Central Bank (ECB) is to adopt for the performance of its supervisory tasks, a procedure for the adoption of specific delegated decisions has been established. |
| --- | --- |

(1)

To address the considerable number of decisions that the European Central Bank (ECB) is to adopt for the performance of its supervisory tasks, a procedure for the adoption of specific delegated decisions has been established.

| (2) | A delegation decision is effective upon the adoption of a decision by the Executive Board nominating one or more heads of work units to take decisions on the basis of a delegation decision. |
| --- | --- |

(2)

A delegation decision is effective upon the adoption of a decision by the Executive Board nominating one or more heads of work units to take decisions on the basis of a delegation decision.

| (3) | The importance of the delegation decision and the number of addressees to whom delegated decisions need to be sent should be taken into account by the Executive Board in nominating heads of work units. |
| --- | --- |

(3)

The importance of the delegation decision and the number of addressees to whom delegated decisions need to be sent should be taken into account by the Executive Board in nominating heads of work units.

| (4) | The Chair of the Supervisory Board has been consulted on the heads of work units to whom the power to adopt decisions on passporting, acquisition of qualifying holdings and withdrawal of authorisations of credit institutions should be delegated, |
| --- | --- |

(4)

The Chair of the Supervisory Board has been consulted on the heads of work units to whom the power to adopt decisions on passporting, acquisition of qualifying holdings and withdrawal of authorisations of credit institutions should be delegated,

HAS ADOPTED THIS DECISION:

Article 1

Definitions

For the purposes of this Decision, the definitions contained in Article 1 of Decision (EU) 2019/1376 (ECB/2019/23) shall apply.

Article 2

Delegated qualifying holding decisions

1.   Delegated decisions pursuant to Articles 3 and 4 of Decision (EU) 2019/1376 (ECB/2019/23) that involve significant supervised entities as defined in point (16) of Article 2 of Regulation (EU) No 468/2014 of the European Central Bank (ECB/2014/17) (4) shall be adopted by the Director General or the Deputy Director General of Directorate General Secretariat to the Supervisory Board, or in the event of their unavailability by the Head of the Authorisation Division, and one of the following heads of work units:

| (a) | the Director General or a Deputy Director General of Directorate General Microprudential Supervision I, if supervision of the relevant supervised entity or group is carried out by Directorate General Microprudential Supervision I; |
| --- | --- |

(a)

the Director General or a Deputy Director General of Directorate General Microprudential Supervision I, if supervision of the relevant supervised entity or group is carried out by Directorate General Microprudential Supervision I;

| (b) | the Director General or a Deputy Director General of Directorate General Microprudential Supervision II, if supervision of the relevant supervised entity or group is carried out by Directorate General Microprudential Supervision II. |
| --- | --- |

(b)

the Director General or a Deputy Director General of Directorate General Microprudential Supervision II, if supervision of the relevant supervised entity or group is carried out by Directorate General Microprudential Supervision II.

If a delegated decision pursuant to Articles 3 and 4 of Decision (EU) 2019/1376 (ECB/2019/23) involves more than one significant supervised entity, the relevant supervised entity shall be the supervised entity or group in which the qualifying holding is acquired.

2.   Delegated decisions pursuant to Articles 3 and 4 of Decision (EU) 2019/1376 (ECB/2019/23) that do not involve significant supervised entities shall be adopted by the Director General or the Deputy Director General of Directorate General Microprudential Supervision III.

Article 3

Delegated withdrawal decisions

1.   Delegated decisions pursuant to Articles 3 and 5 of Decision (EU) 2019/1376 (ECB/2019/23) in relation to significant supervised entities as defined in point (16) of Article 2 of Regulation (EU) No 468/2014 (ECB/2014/17) shall be adopted by the Director General or the Deputy Director General of Directorate General Secretariat to the Supervisory Board, or in the event of their unavailability by the Head of the Authorisation Division, and one of the following heads of work units:

| (a) | the Director General or a Deputy Director General of Directorate General Microprudential Supervision I, if supervision of the relevant supervised entity or group is carried out by Directorate General Microprudential Supervision I; |
| --- | --- |

(a)

the Director General or a Deputy Director General of Directorate General Microprudential Supervision I, if supervision of the relevant supervised entity or group is carried out by Directorate General Microprudential Supervision I;

| (b) | the Director General or a Deputy Director General of Directorate General Microprudential Supervision II, if supervision of the relevant supervised entity or group is carried out by Directorate General Microprudential Supervision II. |
| --- | --- |

(b)

the Director General or a Deputy Director General of Directorate General Microprudential Supervision II, if supervision of the relevant supervised entity or group is carried out by Directorate General Microprudential Supervision II.

2.   Delegated decisions pursuant to Articles 3 and 5 of Decision (EU) 2019/1376 (ECB/2019/23) in relation to less significant supervised entities as defined in point (7) of Article 2 of Regulation (EU) No 468/2014 (ECB/2014/17) shall be adopted by the Director General or the Deputy Director General of Directorate General Microprudential Supervision III.

Article 4

Delegated passporting decisions

Delegated decisions pursuant to Articles 3 and 6 of Decision (EU) 2019/1376 (ECB/2019/23) shall be adopted by one of the following heads of work units:

| (a) | the Director General or a Deputy Director General of Directorate General Microprudential Supervision I, if supervision of the relevant supervised entity or group is carried out by Directorate General Microprudential Supervision I; |
| --- | --- |

(a)

the Director General or a Deputy Director General of Directorate General Microprudential Supervision I, if supervision of the relevant supervised entity or group is carried out by Directorate General Microprudential Supervision I;

| (b) | the Director General or a Deputy Director General of Directorate General Microprudential Supervision II, if supervision of the relevant supervised entity or group is carried out by Directorate General Microprudential Supervision II. |
| --- | --- |

(b)

the Director General or a Deputy Director General of Directorate General Microprudential Supervision II, if supervision of the relevant supervised entity or group is carried out by Directorate General Microprudential Supervision II.

Article 5

Entry into force

This Decision shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

Official Journal of the European Union

Done at Frankfurt am Main, 31 July 2019.

The President of the ECB

Mario DRAGHI

---

(1)  
  OJ L 141, 1.6.2017, p. 14.

1

(2)  See p. 1 of this Official Journal.

2

(3)  
  OJ L 80, 18.3.2004, p. 33.

3

(4)  Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014 establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities (SSM Framework Regulation) (ECB/2014/17) (OJ L 141, 14.5.2014, p. 1).

4

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| 28.8.2019 | EN | Official Journal of the European Union | L 224/9 |
| --- | --- | --- | --- |

28.8.2019

EN

Official Journal of the European Union

L 224/9

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DECISION (EU) 2019/1378 OF THE EUROPEAN CENTRAL BANK

of 9 August 2019

amending Decision ECB/2014/16 concerning the establishment of an Administrative Board of Review and its Operating Rules (ECB/2019/27)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (1), and in particular Article 24 thereof,

Whereas:

| (1) | In the light of the experience gained since the establishment of the Administrative Board of Review, it is necessary to clarify certain aspects of its Operating Rules, which are laid down in Decision ECB/2014/16 (2), and where appropriate to adapt them, in particular with respect to the role of alternates. |
| --- | --- |

(1)

In the light of the experience gained since the establishment of the Administrative Board of Review, it is necessary to clarify certain aspects of its Operating Rules, which are laid down in Decision ECB/2014/16 (2), and where appropriate to adapt them, in particular with respect to the role of alternates.

| (2) | The European Central Bank (ECB) has developed a methodology for the apportionment of costs incurred by the applicants and by the ECB in the context of the internal administrative review of decisions of the ECB under Regulation (EU) No 1024/2013 by the Administrative Board of Review. This methodology should be included in the Operating Rules. |
| --- | --- |

(2)

The European Central Bank (ECB) has developed a methodology for the apportionment of costs incurred by the applicants and by the ECB in the context of the internal administrative review of decisions of the ECB under Regulation (EU) No 1024/2013 by the Administrative Board of Review. This methodology should be included in the Operating Rules.

| (3) | Therefore, Decision ECB/2014/16 should be amended accordingly, |
| --- | --- |

(3)

Therefore, Decision ECB/2014/16 should be amended accordingly,

HAS ADOPTED THIS DECISION:

Article 1

Amendments

Decision ECB/2014/16 is amended as follows:

| 1. | Article 3 is amended as follows:






  (a) | paragraph 1 is replaced by the following:

  ‘1.   The Administrative Board shall be composed of five members who shall be replaced by two alternates under the conditions laid down in paragraphs 3 and 4.’; |
| --- | --- | --- |

1.

Article 3 is amended as follows:

(a)

paragraph 1 is replaced by the following:

‘1.   The Administrative Board shall be composed of five members who shall be replaced by two alternates under the conditions laid down in paragraphs 3 and 4.’;

| (b) | paragraph 3 is replaced by the following:

  ‘3.   An alternate shall temporarily replace a member of the Administrative Board in case of temporary incapacity. In the context of a particular request for review, an alternate shall temporarily replace a member of the Administrative Board in the following cases:






  (a) | in any situation which may raise conflict of interest concerns as defined in Article 11.1 of the Code of Conduct for high-level European Central Bank Officials (*1); |
| --- | --- | --- |

(b)

paragraph 3 is replaced by the following:

‘3.   An alternate shall temporarily replace a member of the Administrative Board in case of temporary incapacity. In the context of a particular request for review, an alternate shall temporarily replace a member of the Administrative Board in the following cases:

(a)

in any situation which may raise conflict of interest concerns as defined in Article 11.1 of the Code of Conduct for high-level European Central Bank Officials (*1);

| (b) | the member is unavailable for justified reasons. |
| --- | --- |

(b)

the member is unavailable for justified reasons.

(*1)  
  OJ C 89, 8.3.2019, p. 2.’;"

*1

| (c) | the following paragraphs 4 and 5 are added:

  ‘4.   An alternate shall permanently replace a member of the Administrative Board in case of permanent incapacity, death, resignation or removal from office. In this case, they shall cease to be an alternate and they shall be designated as members of the Administrative Board by the Governing Council. An alternate shall be appointed in their place, in accordance with the procedure laid down under Article 4.


  5.   The alternates shall fully participate in the review proceedings, either temporarily replacing the members of the Administrative Board or as observers.’; |
| --- | --- |

(c)

the following paragraphs 4 and 5 are added:

‘4.   An alternate shall permanently replace a member of the Administrative Board in case of permanent incapacity, death, resignation or removal from office. In this case, they shall cease to be an alternate and they shall be designated as members of the Administrative Board by the Governing Council. An alternate shall be appointed in their place, in accordance with the procedure laid down under Article 4.

5.   The alternates shall fully participate in the review proceedings, either temporarily replacing the members of the Administrative Board or as observers.’;

| 2. | in Article 4, paragraph 3 is replaced by the following:

  ‘3.   The term of office of the members of the Administrative Board and of the two alternates shall be five years, renewable once. In the event that an alternate permanently replaces a member of the Administrative Board under the conditions laid down in Article 3(4),such replacement shall not be considered a new appointment or renewal, and their mandate shall be considered to have started at the date of their appointment as an alternate.’; |
| --- | --- |

2.

in Article 4, paragraph 3 is replaced by the following:

‘3.   The term of office of the members of the Administrative Board and of the two alternates shall be five years, renewable once. In the event that an alternate permanently replaces a member of the Administrative Board under the conditions laid down in Article 3(4),such replacement shall not be considered a new appointment or renewal, and their mandate shall be considered to have started at the date of their appointment as an alternate.’;

| 3. | in Article 7, paragraph 5 is replaced by the following:

  ‘5.   The notice of review shall clearly indicate the applicant's full contact details so that the Secretary may send communications to the applicant or its representative as the case may be. The Secretary shall promptly send a confirmation of receipt to the applicant stating whether the notice of review is complete.’; |
| --- | --- |

3.

in Article 7, paragraph 5 is replaced by the following:

‘5.   The notice of review shall clearly indicate the applicant's full contact details so that the Secretary may send communications to the applicant or its representative as the case may be. The Secretary shall promptly send a confirmation of receipt to the applicant stating whether the notice of review is complete.’;

| 4. | in Article 16, paragraph 1 is replaced by the following:

  ‘1.   The Administrative Board shall adopt an opinion on the review within a time period appropriate to the urgency of the matter and not later than two months from the date of receipt of the complete notice of review, containing all the documentation required to be submitted in accordance with Article 7(4), the receipt of which is confirmed in accordance with Article 7(5).’; |
| --- | --- |

4.

in Article 16, paragraph 1 is replaced by the following:

‘1.   The Administrative Board shall adopt an opinion on the review within a time period appropriate to the urgency of the matter and not later than two months from the date of receipt of the complete notice of review, containing all the documentation required to be submitted in accordance with Article 7(4), the receipt of which is confirmed in accordance with Article 7(5).’;

| 5. | in Article 17, paragraph 2 is replaced by the following:

  ‘2.   The Supervisory Board's new draft decision replacing the initial decision with a decision of identical content or abrogating or amending the initial decision shall be submitted to the Governing Council within 30 working days following receipt of the Administrative Board's opinion.’; |
| --- | --- |

5.

in Article 17, paragraph 2 is replaced by the following:

‘2.   The Supervisory Board's new draft decision replacing the initial decision with a decision of identical content or abrogating or amending the initial decision shall be submitted to the Governing Council within 30 working days following receipt of the Administrative Board's opinion.’;

| 6. | Article 21 is amended as follows:






  (a) | paragraphs 3 and 4 are deleted; |
| --- | --- | --- |

6.

Article 21 is amended as follows:

(a)

paragraphs 3 and 4 are deleted;

| (b) | paragraph 5 is replaced by the following:

  ‘5.   The Governing Council shall decide on the apportionment of costs in accordance with the procedure laid down in Article 13g.2 of the Rules of Procedure of the European Central Bank, on the basis of the methodology for the apportionment of costs set out in the Annex to this Decision.’; |
| --- | --- |

(b)

paragraph 5 is replaced by the following:

‘5.   The Governing Council shall decide on the apportionment of costs in accordance with the procedure laid down in Article 13g.2 of the Rules of Procedure of the European Central Bank, on the basis of the methodology for the apportionment of costs set out in the Annex to this Decision.’;

| 7. | the text set out in the Annex to this Decision is added as an Annex to Decision ECB/2014/16. |
| --- | --- |

7.

the text set out in the Annex to this Decision is added as an Annex to Decision ECB/2014/16.

Article 2

Final provision

This Decision shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

Official Journal of the European Union

Done at Frankfurt am Main, 9 August 2019.

The President of the ECB

Mario DRAGHI

---

(1)  
  OJ L 287, 29.10.2013, p. 63.

1

(2)  Decision ECB/2014/16 of 14 April 2014 concerning the establishment of an Administrative Board of Review and its Operating Rules (OJ L 175, 14.6.2014, p. 47).

2

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ANNEX

‘ANNEX

Methodology for the apportionment of the costs of the review incurred by the applicant and by the European Central Bank in the context of a review by the Administrative Board

In cases in which the Governing Council abrogates the initial decision or amends its operative part as a consequence of the notice of review, the ECB will reimburse the costs incurred by the applicant in the context of the review, with the exclusion of any disproportionate costs incurred by the applicant in submitting written or oral evidence and in respect of legal representation, which will be borne by the applicant. In any case, the reimbursement by the ECB of costs incurred by the applicant shall not exceed EUR 50 000 for each individual review by the Administrative Board.

In cases in which the Governing Council replaces the initial decision with a decision of identical content or amends only the non-operative part (*1) of the initial decision as a consequence of the notice of review, the applicant will contribute to the costs incurred by ECB in the context of the review. Natural persons must pay a lump sum of EUR 500. Legal persons must pay a lump sum of EUR 5 000. The payment of this lump sum remains without prejudice to the application of Article 13 of this Decision.

In cases in which the applicant withdraws a notice of review pursuant to Article 7(6) of this Decision, the applicant and the ECB will bear their own costs, if any.

---

(*1)  
  “Non-operative part” refers to any part of the decision which provides grounds and reasoning of the ECB decision, irrespective of the wording used in the decision itself to indicate such part.”

*1

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Corrigenda

| 28.8.2019 | EN | Official Journal of the European Union | L 224/12 |
| --- | --- | --- | --- |

28.8.2019

EN

Official Journal of the European Union

L 224/12

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Corrigendum to Rules of Procedure of the European Economic and Social Committee March 2019

(
  Official Journal of the European Union L 110 of 25 April 2019
  )

On page 43, the publication of ‘Rules of Procedure of the European Economic and Social Committee March 2019’ is to be considered null and void.

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