# C_2017124EN.01000301.xml

| 21.4.2017 | EN | Official Journal of the European Union | C 124/3 |
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DECISION OF THE EUROPEAN SYSTEMIC RISK BOARD

of 31 March 2017

amending Decision ESRB/2011/1 adopting the Rules of Procedure of the European Systemic Risk Board

(ESRB/2017/2)

(2017/C 124/04)

THE GENERAL BOARD OF THE EUROPEAN SYSTEMIC RISK BOARD,

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

Having regard to Regulation (EU) No 1092/2010 of the European Parliament and of the Council of 24 November 2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board( 1 ), and in particular Article 6(4) and Article 9(5) thereof,

Having regard to Council Regulation (EU) No 1096/2010 of 17 November 2010 conferring specific tasks upon the European Central Bank concerning the functioning of the European Systemic Risk Board( 2 ),

Whereas:

| (1) | On 12 July 2016 the Council adopted Decision (EU) 2016/1171( 3 ), which concerns the position to be adopted, on behalf of the Union, within the European Economic Area (EEA) Joint Committee on the proposed amendments to Annex IX (Financial Services) to the EEA Agreement. On 30 September 2016 the EEA Joint Committee adopted Decision of the EEA Joint Committee No 198/2016( 4 ) amending the status and involvement in the work of the European Systemic Risk Board (ESRB) of the relevant authorities of the European Free Trade Association (EFTA) Member States participating in the EEA. Representatives of the relevant authorities of Norway, Iceland and Liechtenstein are to participate in the work of the ESRB’s General Board without voting rights, and in that of the Advisory Technical Committee. The Governors of these EFTA Member States’ national central banks, and, as regards Liechtenstein, a high-level representative of the Ministry of Finance as well as a high-level representative of the competent national supervisory authority of each of these EFTA Member States, and a college member of the EFTA Surveillance Authority, whenever relevant to its tasks, are to be members of the General Board without voting rights. Representatives of these EFTA Member States’ national central banks, and, as regards Liechtenstein, a representative of the Ministry of Finance, and a representative of the competent national supervisory authority of each of these EFTA Member States are to participate in meetings of the Advisory Technical Committee. These representatives of the relevant authorities of these EFTA Member States will not participate in the work of the ESRB, where the situation of individual Union financial institutions or Member States may be discussed. |
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| (2) | All legal instruments of the ESRB are to be adopted by the General Board and signed by the Head of the ESRB Secretariat to certify their conformity with the decision of the General Board. |
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| (3) | Therefore, Decision ESRB/2011/1 of the European Systemic Risk Board( 5 ) should be amended accordingly, |
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HAS ADOPTED THIS DECISION:

Article 1

Amendments

Decision ESRB/2011/1 is amended as follows:

| 1. | Article 4 is amended as follows:
(a)
paragraph 6 is replaced by the following:
‘6.   The Chair of the ESRB may, in accordance with Article 9(4) and (5) of Regulation (EU) No 1092/2010, invite other persons on an ad hoc basis for specific agenda items on a proposal from the Chair or from other members of the General Board, where appropriate and subject to compliance with confidentiality requirements.’; (b)
the following paragraph 7 is added:
‘7.   In accordance with Decision of the EEA Joint Committee No 198/2016( *1 ), the Governors of the national central banks of Iceland and Norway, and as regards Liechtenstein, a high-level representative of the Ministry of Finance, as well as one high-level representative of the competent national supervisory authority of each of these European Free Trade Association (EFTA) Member States shall participate in meetings of the General Board without voting rights. A college member of the EFTA Surveillance Authority may participate in meetings of the General Board without voting rights, whenever relevant to its tasks.
( *1 )  Decision of the EEA Joint Committee No 198/2016 of 30 September 2016 amending Annex IX (Financial services) to the EEA Agreement [2017/275] (OJ L 46, 23.2.2017, p. 1).’;" | (a) | paragraph 6 is replaced by the following:
‘6.   The Chair of the ESRB may, in accordance with Article 9(4) and (5) of Regulation (EU) No 1092/2010, invite other persons on an ad hoc basis for specific agenda items on a proposal from the Chair or from other members of the General Board, where appropriate and subject to compliance with confidentiality requirements.’; | (b) | the following paragraph 7 is added:
‘7.   In accordance with Decision of the EEA Joint Committee No 198/2016( *1 ), the Governors of the national central banks of Iceland and Norway, and as regards Liechtenstein, a high-level representative of the Ministry of Finance, as well as one high-level representative of the competent national supervisory authority of each of these European Free Trade Association (EFTA) Member States shall participate in meetings of the General Board without voting rights. A college member of the EFTA Surveillance Authority may participate in meetings of the General Board without voting rights, whenever relevant to its tasks.
( *1 )  Decision of the EEA Joint Committee No 198/2016 of 30 September 2016 amending Annex IX (Financial services) to the EEA Agreement [2017/275] (OJ L 46, 23.2.2017, p. 1).’;" |
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| (a) | paragraph 6 is replaced by the following:
‘6.   The Chair of the ESRB may, in accordance with Article 9(4) and (5) of Regulation (EU) No 1092/2010, invite other persons on an ad hoc basis for specific agenda items on a proposal from the Chair or from other members of the General Board, where appropriate and subject to compliance with confidentiality requirements.’; | | | | |
| (b) | the following paragraph 7 is added:
‘7.   In accordance with Decision of the EEA Joint Committee No 198/2016( *1 ), the Governors of the national central banks of Iceland and Norway, and as regards Liechtenstein, a high-level representative of the Ministry of Finance, as well as one high-level representative of the competent national supervisory authority of each of these European Free Trade Association (EFTA) Member States shall participate in meetings of the General Board without voting rights. A college member of the EFTA Surveillance Authority may participate in meetings of the General Board without voting rights, whenever relevant to its tasks.
( *1 )  Decision of the EEA Joint Committee No 198/2016 of 30 September 2016 amending Annex IX (Financial services) to the EEA Agreement [2017/275] (OJ L 46, 23.2.2017, p. 1).’;" | | | | |

| 2. | Article 5 is amended as follows:
(a)
paragraph 1 is replaced by the following:
‘1.   The Chair of the ESRB shall draw up a preliminary agenda for an ordinary General Board meeting and submit it to the Steering Committee for consultation at least eight calendar days before the Steering Committee meeting together with the related documentation. Thereafter, the Chair shall submit the provisional agenda to the members of the General Board together with the related documentation at least 10 calendar days before the General Board meeting. When planning the work and preparing the meeting agendas of the General Board it shall be taken into account that those members who are participating pursuant to Article 4(7) may be asked not to participate in meetings of the General Board, where the situation of individual Union financial institutions or Member States is discussed.’; (b)
the following paragraph 2a is inserted:
‘2a   After receiving the provisional agenda each member may, within three ECB working days, submit a request to the ESRB Secretariat for an agenda item to be discussed without the participation of those members who are participating pursuant to Article 4(7), where the situation of individual Union financial institutions or Member States is discussed. The identity of the requesting representative shall be kept anonymous.’; | (a) | paragraph 1 is replaced by the following:
‘1.   The Chair of the ESRB shall draw up a preliminary agenda for an ordinary General Board meeting and submit it to the Steering Committee for consultation at least eight calendar days before the Steering Committee meeting together with the related documentation. Thereafter, the Chair shall submit the provisional agenda to the members of the General Board together with the related documentation at least 10 calendar days before the General Board meeting. When planning the work and preparing the meeting agendas of the General Board it shall be taken into account that those members who are participating pursuant to Article 4(7) may be asked not to participate in meetings of the General Board, where the situation of individual Union financial institutions or Member States is discussed.’; | (b) | the following paragraph 2a is inserted:
‘2a   After receiving the provisional agenda each member may, within three ECB working days, submit a request to the ESRB Secretariat for an agenda item to be discussed without the participation of those members who are participating pursuant to Article 4(7), where the situation of individual Union financial institutions or Member States is discussed. The identity of the requesting representative shall be kept anonymous.’; |
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| (a) | paragraph 1 is replaced by the following:
‘1.   The Chair of the ESRB shall draw up a preliminary agenda for an ordinary General Board meeting and submit it to the Steering Committee for consultation at least eight calendar days before the Steering Committee meeting together with the related documentation. Thereafter, the Chair shall submit the provisional agenda to the members of the General Board together with the related documentation at least 10 calendar days before the General Board meeting. When planning the work and preparing the meeting agendas of the General Board it shall be taken into account that those members who are participating pursuant to Article 4(7) may be asked not to participate in meetings of the General Board, where the situation of individual Union financial institutions or Member States is discussed.’; | | | | |
| (b) | the following paragraph 2a is inserted:
‘2a   After receiving the provisional agenda each member may, within three ECB working days, submit a request to the ESRB Secretariat for an agenda item to be discussed without the participation of those members who are participating pursuant to Article 4(7), where the situation of individual Union financial institutions or Member States is discussed. The identity of the requesting representative shall be kept anonymous.’; | | | | |

| 3. | in Article 10, paragraph 2 is replaced by the following:
‘2.   The Steering Committee shall examine in advance items on the preliminary agenda for a General Board meeting together with the relevant documentation. The Steering Committee shall ensure the preparation of the dossiers for the General Board and, where appropriate, shall propose options or solutions. When planning the work and preparing the meeting agendas of the General Board, it shall be taken into account that those members who are participating pursuant to Article 4(7) may be asked not to participate on the General Board, where the situation of individual Union financial institutions or Member States is discussed. The Steering Committee shall report on an ongoing basis to the General Board on the development of the ESRB’s activities.’; |
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| 4. | Article 13 is amended as follows:
(a)
the following paragraph 2a is inserted:
‘2a   One representative of the national central banks of Iceland and Norway, and as regards Liechtenstein, one representative of the Ministry of Finance, as well as one representative of the competent national supervisory authority of each of these EFTA Member States shall participate on the Advisory Technical Committee.’; (b)
paragraph 7 is replaced by the following:
‘7.   The Chair of the Advisory Technical Committee shall propose an agenda at least 10 calendar days before the meeting, prepared in accordance with Article 13(3) of Regulation (EU) No 1092/2010, which shall be submitted to the Advisory Technical Committee for approval. Documents for agenda items shall be made available by the ESRB Secretariat to all members of the Advisory Technical Committee. When planning the work and preparing the meeting agendas of the Advisory Technical Committee it shall be taken into account that those representatives who are participating pursuant to Article 13(2a) may be asked not to participate in the work of the Advisory Technical Committee where the situation of individual Union financial institutions or Member States may be discussed. After receiving the meeting agenda each representative may, within three ECB working days, submit a request to the ESRB Secretariat for an agenda item to be discussed without the participation of those representatives who are participating pursuant to Article 13(2a), where the situation of individual Union financial institutions or Member States is discussed. The identity of the requesting representative shall be kept anonymous.’; | (a) | the following paragraph 2a is inserted:
‘2a   One representative of the national central banks of Iceland and Norway, and as regards Liechtenstein, one representative of the Ministry of Finance, as well as one representative of the competent national supervisory authority of each of these EFTA Member States shall participate on the Advisory Technical Committee.’; | (b) | paragraph 7 is replaced by the following:
‘7.   The Chair of the Advisory Technical Committee shall propose an agenda at least 10 calendar days before the meeting, prepared in accordance with Article 13(3) of Regulation (EU) No 1092/2010, which shall be submitted to the Advisory Technical Committee for approval. Documents for agenda items shall be made available by the ESRB Secretariat to all members of the Advisory Technical Committee. When planning the work and preparing the meeting agendas of the Advisory Technical Committee it shall be taken into account that those representatives who are participating pursuant to Article 13(2a) may be asked not to participate in the work of the Advisory Technical Committee where the situation of individual Union financial institutions or Member States may be discussed. After receiving the meeting agenda each representative may, within three ECB working days, submit a request to the ESRB Secretariat for an agenda item to be discussed without the participation of those representatives who are participating pursuant to Article 13(2a), where the situation of individual Union financial institutions or Member States is discussed. The identity of the requesting representative shall be kept anonymous.’; |
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| (a) | the following paragraph 2a is inserted:
‘2a   One representative of the national central banks of Iceland and Norway, and as regards Liechtenstein, one representative of the Ministry of Finance, as well as one representative of the competent national supervisory authority of each of these EFTA Member States shall participate on the Advisory Technical Committee.’; | | | | |
| (b) | paragraph 7 is replaced by the following:
‘7.   The Chair of the Advisory Technical Committee shall propose an agenda at least 10 calendar days before the meeting, prepared in accordance with Article 13(3) of Regulation (EU) No 1092/2010, which shall be submitted to the Advisory Technical Committee for approval. Documents for agenda items shall be made available by the ESRB Secretariat to all members of the Advisory Technical Committee. When planning the work and preparing the meeting agendas of the Advisory Technical Committee it shall be taken into account that those representatives who are participating pursuant to Article 13(2a) may be asked not to participate in the work of the Advisory Technical Committee where the situation of individual Union financial institutions or Member States may be discussed. After receiving the meeting agenda each representative may, within three ECB working days, submit a request to the ESRB Secretariat for an agenda item to be discussed without the participation of those representatives who are participating pursuant to Article 13(2a), where the situation of individual Union financial institutions or Member States is discussed. The identity of the requesting representative shall be kept anonymous.’; | | | | |

| 5. | Article 27 is amended as follows:
(a)
paragraph 1 is replaced by the following:
‘1.   The ESRB’s legal instruments shall be adopted by the General Board and signed by the Head of the ESRB Secretariat to certify their conformity with the General Board’s decision.’; (b)
the following paragraph 1a is inserted:
‘1a   All ESRB legal instruments shall be numbered sequentially for ease of identification.’; (c)
the following paragraph 1b is inserted:
‘1b   The ESRB Secretariat shall take steps to ensure:
(a)
the safe custody of the originals of the ESRB’s legal instruments; (b)
the notification of the addressees; (c)
where appropriate, the publication in all the official languages of the Union in the Official Journal of the European Union of the ESRB’s legal instruments whose publication has been expressly decided by the General Board.’ | (a) | paragraph 1 is replaced by the following:
‘1.   The ESRB’s legal instruments shall be adopted by the General Board and signed by the Head of the ESRB Secretariat to certify their conformity with the General Board’s decision.’; | (b) | the following paragraph 1a is inserted:
‘1a   All ESRB legal instruments shall be numbered sequentially for ease of identification.’; | (c) | the following paragraph 1b is inserted:
‘1b   The ESRB Secretariat shall take steps to ensure:
(a)
the safe custody of the originals of the ESRB’s legal instruments; (b)
the notification of the addressees; (c)
where appropriate, the publication in all the official languages of the Union in the Official Journal of the European Union of the ESRB’s legal instruments whose publication has been expressly decided by the General Board.’ | (a) | the safe custody of the originals of the ESRB’s legal instruments; | (b) | the notification of the addressees; | (c) | where appropriate, the publication in all the official languages of the Union in the Official Journal of the European Union of the ESRB’s legal instruments whose publication has been expressly decided by the General Board.’ |
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| (a) | paragraph 1 is replaced by the following:
‘1.   The ESRB’s legal instruments shall be adopted by the General Board and signed by the Head of the ESRB Secretariat to certify their conformity with the General Board’s decision.’; | | | | | | | | | | | | |
| (b) | the following paragraph 1a is inserted:
‘1a   All ESRB legal instruments shall be numbered sequentially for ease of identification.’; | | | | | | | | | | | | |
| (c) | the following paragraph 1b is inserted:
‘1b   The ESRB Secretariat shall take steps to ensure:
(a)
the safe custody of the originals of the ESRB’s legal instruments; (b)
the notification of the addressees; (c)
where appropriate, the publication in all the official languages of the Union in the Official Journal of the European Union of the ESRB’s legal instruments whose publication has been expressly decided by the General Board.’ | (a) | the safe custody of the originals of the ESRB’s legal instruments; | (b) | the notification of the addressees; | (c) | where appropriate, the publication in all the official languages of the Union in the Official Journal of the European Union of the ESRB’s legal instruments whose publication has been expressly decided by the General Board.’ | | | | | | |
| (a) | the safe custody of the originals of the ESRB’s legal instruments; | | | | | | | | | | | | |
| (b) | the notification of the addressees; | | | | | | | | | | | | |
| (c) | where appropriate, the publication in all the official languages of the Union in the Official Journal of the European Union of the ESRB’s legal instruments whose publication has been expressly decided by the General Board.’ | | | | | | | | | | | | |

Article 2

Entry into force

This Decision shall enter into force on 1 April 2017.

Done at Frankfurt am Main, 31 March 2017. The Chair of the ESRB Mario DRAGHI

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( 1 )  OJ L 331, 15.12.2010, p. 1.

( 2 )  OJ L 331, 15.12.2010, p. 162.

( 3 )  Council Decision (EU) 2016/1171 of 12 July 2016 on the position to be adopted, on behalf of the European Union, within the EEA Joint Committee concerning amendments to Annex IX (Financial Services) to the EEA Agreement (OJ L 193, 19.7.2016, p. 38).

( 4 )  Decision of the EEA Joint Committee No 198/2016 of 30 September 2016 amending Annex IX (Financial services) to the EEA Agreement [2017/275] (OJ L 46, 23.2.2017, p. 1).

( 5 )  Decision ESRB/2011/1 of the European Systemic Risk Board of 20 January 2011 adopting the Rules of Procedure of the European Systemic Risk Board (OJ C 58, 24.2.2011, p. 4).

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