ddrg/super_eurlex huggingface dataset:
4.

The objective of the proposed regulation is to reflect changes in the implementation of the Stability and Growth Pact that were agreed by the Council (ECOFIN) on 20 March 2005. The proposed regulation concerns the implementation of the excessive deficit procedure (EDP). The proposed regulation aims to ensure sound fiscal policies by providing incentives for fiscal discipline. While the ECB does not see a need to express an opinion on the specific provisions of the proposed regulation, it reiterates that the EDP needs to be both credible and effective as a safeguard against unsustainable public finances, maintaining a strict time frame. Against this background, the ECB favours an amendment that is as limited as possible of Council Regulation (EC) No 1467/97 of 7 July 1997 on speeding up and clarifying the implementation of the excessive deficit procedure (1). A rigorous and consistent implementation of the EDP would be conducive to prudent fiscal policies.
EN Official Journal of the European Union C 88/1

OPINION OF THE EUROPEAN CENTRAL BANK

of 3 April 2008

at the request of the Council of the European Union on a proposal for a Council Regulation on the application of the Protocol on the excessive deficit procedure annexed to the Treaty establishing the European Community

(CON/2008/15)

(2008/C 88/01)

Introduction and legal basis

On 19 March 2008, the European Central Bank (ECB) received a request from the Council of the European Union for an opinion on a proposal for a Council Regulation on the application of the Protocol on the excessive deficit procedure annexed to the Treaty establishing the European Community (hereinafter ‘the proposed Regulation’), codifying Council Regulation (EC) No 3605/93 of 22 November 1993 on the application of the Protocol on the excessive deficit procedure annexed to the Treaty establishing the European Community (1).

The ECB's competence to deliver an opinion is based on the first indent of Article 105(4) of the Treaty establishing the European Community. In accordance with the first sentence of Article 17.5 of the Rules of Procedure of the European Central Bank, the Governing Council has adopted this opinion.

Observations

The ECB has no specific comments on the proposed Regulation.

Done at Frankfurt am Main, 3 April 2008. The President of the ECB Jean-Claude TRICHET

(1) OJ L 332, 31.12.1993, p. 7. Regulation as last amended by Regulation (EC) No 2103/2005 (OJ L 337, 22.12.2005, p. 1).
EN 
 
 
OPINION OF THE EUROPEAN CENTRAL BANK 
of 24 April 2009  
on the supervision of payment institutions by Lietuvos bankas 
(CON/2009/40) 
 
Introduction and legal basis  
On 3 April 2009 the European Central Bank (ECB) r eceived a request from the Lithuanian Ministry of 
Finance for an opinion on a draft law amending the La w on Lietuvos bankas as regards the supervision of 
payment institutions (hereinafter the ‘draft law’). 
The ECB’s competence to deliver an  opinion is based on Article 105(4) of the Treaty establishing the 
European Community and the third and fifth indents of Article 2(1) of Council Decision 98/415/EC of 
29 June 1998 on the consultation of the European Ce ntral Bank by national authorities regarding draft 
legislative provisions1, as the draft law relates to Lietuvos bank as and to payment and settlement systems. 
In accordance with the first sentence of Article 17.5 of the Rules of Procedure of the European Central 
Bank, the Governing Council has adopted this opinion. 
 1.  Purpose of the draft law 
The main purpose of the draft law is to amend the La w on Lietuvos bankas in order to entrust it with new 
tasks concerning the authorisation and supervision of payment institutions. The draft law, in this respect, 
complements the transposition into Lithuanian legi slation of Directive 2007/64/EC of the European 
Parliament and of the Council of 13 November 2007 on payment services in the internal market amending 
Directives 97/7/EC, 2002/65/EC, 2005/60/EC a nd 2006/48/EC and repealing Directive 97/5/EC
2. 
 2. General observations  2.1 The ECB welcomes the draft law which will fulf il regulatory pre-conditions for the introduction of 
the Single European Payments Area (SEPA)
3. 
2.2 Under the draft law Lietuvos bankas will be entrus ted with new tasks related to the authorisation 
and supervision of payment institutions. The E CB welcomes this widening of Lietuvos bankas’s 
                                                 
1  OJ L 189, 3.7.1998, p. 42.  
2 OJ L 319, 5.12.2007, p. 1. 
3  See also CON/2009/27. 
2 powers which has to be supported by providin g Lietuvos bankas with sufficient human and 
financial resources, both in terms of quantity a nd quality, to carry out its new tasks based on 
national law without affecting its capacity to carry out  its tasks related with the European System of 
Central Banks4. 
2.3 The ECB understands that the technical implemen ting details of the provisions of the draft law on 
the supervision of payment institutions will be  separately established by Lietuvos bankas. 
 This opinion will be published on the ECB’s website.   Done at Frankfurt am Main, 24 April 2009. 
 
[signed] 
 
The Vice-President of the ECB 
Lucas D. PAPADEMOS 
                                                 
4  See also CON/2009/27.
EN 
 
 
OPINION OF THE EUROPEAN CENTRAL BANK 
of 7 May 2010 
on new coin and banknote denominations 
(CON/2010/38)  
 Introduction and legal basis
 
On 29 March 2010 the European Central Bank (ECB) received a request from Sveriges Riksbank for an 
opinion on a draft legislative proposal to amend th e Law on Sveriges Riksbank (1988:1385) (hereinafter 
the ‘legislative proposal’). 
The ECB’s competence to deliver an  opinion is based on Articles 127(4) and 282(5) of the Treaty on the 
Functioning of the European Union and the second inde nt of Article 2(1) of Council Decision 98/415/EC 
of 29 June 1998 on the consultation of the European Central Bank by national au thorities regarding draft 
legislative provisions1, as the draft law relates to means of paym ent. In accordance with the first sentence 
of Article 17.5 of the Rules of Procedure of th e European Central Bank, the Governing Council has 
adopted this opinion. 
 1. Purpose of the legislative proposal 
Under the legislative proposal, Sveriges Riksbank is give n the right to issue two and 20 kronor coins, and 
200 kronor banknotes. It is also proposed that the Ri ksbank should no longer have the right to issue 
50 öre coins, due to their ceasing to be legal tender on 30 September 2010. 
 2.  General observations According to Chapter 9, Article 14, of the Swed ish Constitution, Sveriges Riksbank has the exclusive 
right to issue banknotes and coins. Chapter 5, Article  1, of the Law on Sveriges Riksbank provides that 
banknotes and coins issued by Sveriges Riksbank are le gal tender. However, general rules concerning the 
monetary and payment system, such as decisions on certain Swedish banknotes and coins ceasing to be 
legal tender, are laid down by legislation enacted  by Sveriges Riksdag (the Swedish Parliament). 
The ECB acknowledges that Sveriges Riksbank has conducte d an in-depth examination into the need for 
new coin and banknote denominations, taking into acc ount use, demand for and cost of the different 
                                                     
 
1 OJ L 189, 3.7.1998, p. 42.  
2 alternatives. The opinions of the general public, banks  and the retail trade have also been taken into 
account. 
  This opinion will be published on the ECB’s website.   Done at Frankfurt am Main, 7 May 2010. 
[signed] 
  
The President of the ECB 
Jean-Claude TRICHET
EN Official Journal of the European Union C 182/6

OPINION OF THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK

of 9 June 2011

on a Council recommendation on the appointment of the President of the European Central Bank

(CON/2011/48)

2011/C 182/03

Introduction and legal basis

On 23 May 2011, the European Central Bank (ECB) received a request from the President of the European Council for an opinion on Council Recommendation of 17 May 2011 on the appointment of the President of the European Central Bank (1).

The competence of the ECB’s Governing Council to deliver an opinion is based on Article 283(2) of the Treaty on the Functioning of the European Union.

General observations

1. The Council’s recommendation, which was submitted to the European Council, and on which the European Parliament and the ECB’s Governing Council are being consulted, recommends appointing Mario Draghi as the President of the ECB for a term of office of eight years with effect from 1 November 2011.

2. The ECB’s Governing Council is of the opinion that the proposed candidate is a person of recognised standing and professional experience in monetary or banking matters as required by Article 283(2) of the Treaty.

3. The ECB’s Governing Council has no objection to the Council’s recommendation to appoint Mario Draghi as the President of the ECB.

Done at Frankfurt am Main, 9 June 2011. The President of the ECB Jean-Claude TRICHET

(1) Not yet published in the Official Journal.
EN ECB-PUBLIC  
 
 
 
OPINION OF THE EUROPEAN CENTRAL BANK 
of 20 June 2011  
on the capital and management stru cture of the Central Depository 
(CON/2011/50) 
 
Introduction and legal basis  
On 26 May 2011 the European Central Bank (ECB) received a request from the Bulgarian Ministry of 
Finance for an opinion on a draft law amending the Law on the public offering of securities (hereinafter 
‘draft law’). 
The ECB’s competence to deliver an  opinion is based on Articles 127(4) and 282(5) of the Treaty on the 
Functioning of the European Union and the third and fifth indents  of Article 2(1) of Council Decision 
98/415/EC of 29 June 1998 on the consultation of  the European Central Bank by national authorities 
regarding draft legislative provisions1, as the draft law relates to Българска  народна  банка  (Bulgarian 
National Bank) and payment and settlement systems. In  accordance with the first sentence of Article 17.5 
of the Rules of Procedure of the European Central Bank, the Governing Council has adopted this opinion. 
 1.
  Purpose and background of the draft law 
The aim of the draft law is to establish conditions for the privatisation of the stakes held by the State and 
Българска  народна  банка  (Bulgarian National Bank) in the Cent ral Depository. Chapter 9 of the Law on 
the public offering of securities provides, inter alia ,: (a) that the Ministry of Finance and Българска  
народна  банка  (Bulgarian National Bank) must hold a mi nimum of 34% of the Central Depository’s 
shares; (b) that the Central Depository’s  Board of Directors must include at least one representative from 
Българска  народна  банка  (Bulgarian National Bank) and from the Ministry of Finance; (c) that the 
Central Depository  must not create profits nor distribute dividends; and (d) rules relating to the 
management of the Central Deposito ry’s reserve and guarantee funds.  
 
2.  General observations  
The ECB notes that the draft law is necessary to adva nce the privatisation of the Central Depository and 
has no specific comments on the draft law provisions.  
 
 
                                                                          
1  OJ L 189, 3.7.1998, p. 42.  
ECB-PUBLIC 
2 This opinion will be published on the ECB’s website.  
 Done at Frankfurt am Main, 20 June 2011. 
 
[signed] 
 
The President of the ECB 
Jean-Claude TRICHET
EN ECB-PUBLIC





of 25 May 2021

on the establishment of a register for basic enterprise data (CON/2021/19)





Introduction and legal basis

On 4 May 2021 the European Central Bank (ECB) received a request from the German Federal Ministry for Economic Affairs and Energy for an opinion on a draft law on the establishment and management of a register on basic enterprise data and the introduction of a national business identification number for enterprises (hereinafter the ‘draft law’). The ECB’s competence to deliver an opinion is based on Articles 127(4) and 282(5) of the Treaty on the Functioning of the European Union (TFEU) and the third and fourth indents of Article 2(1) of Council Decision 98/415/EC1, as the draft law relates to Deutsche Bundesbank and the collection, compilation and distribution of monetary, financial, banking, payment systems and balance of payments statistics. In accordance with the first sentence of Article 17.5 of the Rules of Procedure of the European Central Bank, the Governing Council has adopted this opinion.









This opinion will be published on EUR-Lex.





Done at Frankfurt am Main, 25 May 2021.





[signed]





The President of the ECB

Christine LAGARDE
RECOMMENDATION OF THE EUROPEAN CENTRAL BANK of 19 June 1998 to the Council of the European Union on the external auditor of the European Central Bank (ECB/1998/3) (98/C 246/05)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK (hereinafter referred to as the 'Governing Council`),

Having regard to the Statute of the European System of Central Banks and of the European Central Bank and in particular Article 27.1 thereof,

Whereas the accounts of the European Central Bank (hereinafter referred to as the 'ECB`) and of the national central banks shall be audited by independent external auditors recommended by the Governing Council and approved by the Council of the European Union;

Whereas the Council of the European Monetary Institute agreed to recommend Coopers & Lybrand as the external auditor of the ECB;

HEREBY RECOMMENDS:

Coopers & Lybrand as the external auditor of the ECB.

This recommendation shall be published in the Official Journal of the European Communities.

Done at Frankfurt on Main, 19 June 1998.

The President of the ECB

Willem F. DUISENBERG
EN Official Journal of the European Union C 91/4

RECOMMENDATION OF THE EUROPEAN CENTRAL BANK

of 7 April 2005

to the Council of the European Union on the external auditors of the Bank of Greece

(ECB/2005/7)

(2005/C 91/04)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 27.1 thereof,

Whereas:

(1) The accounts of the European Central Bank (ECB) and of the national central banks of the Eurosystem are audited by independent external auditors recommended by the Governing Council of the ECB and approved by the Council of the European Union.

(2) Under the law of Greece, the same external auditor may not be appointed for more than four financial years. Accordingly, the mandate of Charalambos Stathakis, who is one of the two current external auditors, may not be renewed. The Bank of Greece may retain Ernst & Young (Hellas) Certified Auditors SA as its external auditors, provided that the partner in charge is rotated.

(3) The Bank of Greece has decided that Ernst & Young (Hellas) Certified Auditors SA should be its sole external auditor for the financial year 2005, and the ECB considers that this company fulfils the necessary requirements for such appointment.

(4) The existing mandate of the external auditors should continue and be for a renewable period of one year,

HAS ADOPTED THIS RECOMMENDATION:

It is recommended that Ernst & Young (Hellas) Certified Auditors SA should be appointed as the external auditors of the Bank of Greece for the financial year 2005 and that this appointment should be renewable for one year.
EN Official Journal of the European Union C 277/1

RECOMMENDATION OF THE EUROPEAN CENTRAL BANK

of 15 November 2007

to the Council of the European Union on the external auditors of the Central Bank of Cyprus

(ECB/2007/12)

(2007/C 277/01)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank (hereinafter the ‘ESCB Statute’), and in particular Article 27.1 thereof,

Whereas:

(1) The accounts of the European Central Bank (ECB) and of the national central banks of the Eurosystem are audited by independent external auditors recommended by the ECB's Governing Council and approved by the Council of the European Union.

(2) Pursuant to Article 1 of Council Decision 2007/503/EC of 10 July 2007 in accordance with Article 122(2) of the Treaty on the adoption by Cyprus of the single currency on 1 January 2008 (1), Cyprus now fulfils the necessary conditions for the adoption of the euro and the derogation in favour of Cyprus referred to in Article 4 of the 2003 Act of Accession is abrogated with effect from 1 January 2008.

(3) Pursuant to Section 60(1)(a) of Law 34(I) of 2007 amending the Central Bank of Cyprus Laws of 2002 and 2003, which enters into force on 1 January 2008, the annual financial statements of the Central Bank of Cyprus are audited in accordance with Article 27 of the ESCB Statute.

(4) The Central Bank of Cyprus has selected PricewaterhouseCoopers Limited as its independent external auditors for the financial years 2008 to 2012,

HAS ADOPTED THIS RECOMMENDATION:

It is recommended that PricewaterhouseCoopers Limited should be appointed as the external auditors of the Central Bank of Cyprus for the financial years 2008 to 2012.

Done at Frankfurt am Main, 15 November 2007. The President of the ECB Jean-Claude TRICHET

(1) OJ L 186, 18.7.2007, p. 29.
EN Official Journal of the European Union C 93/1

RECOMMENDATION OF THE EUROPEAN CENTRAL BANK

of 3 April 2009

to the Council of the European Union on the external auditors of De Nederlandsche Bank

(ECB/2009/8)

2009/C 93/01

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 27.1 thereof,

Whereas:

(1) The accounts of the European Central Bank (ECB) and national central banks are audited by independent external auditors recommended by the ECB’s Governing Council and approved by the Council of the European Union.

(2) On 12 July 2005, Josephus Andreas Nijhuis, registered accountant and chairman of the board of PricewaterhouseCoopers Accountants N.V. (‘PWC’), acting in his personal capacity, was appointed as the external auditor of De Nederlandsche Bank (DNB) from the financial year 2005 for an indefinite period.

(3) Josephus Andreas Nijhuis resigned from PWC with effect from 1 October 2008. It is therefore necessary for DNB to appoint new auditors.

(4) DNB wishes to select PWC as its external auditors for the financial years 2008 to 2011,

HAS ADOPTED THIS RECOMMENDATION:

It is recommended that PricewaterhouseCoopers Accountants N.V. should be appointed as the external auditors of De Nederlandsche Bank for the financial years 2008 to 2011.
EN Official Journal of the European Union C 122/1

RECOMMENDATION OF THE EUROPEAN CENTRAL BANK

of 19 April 2013

to the Council of the European Union on the external auditors of the European Central Bank

(ECB/2013/9)

2013/C 122/01

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 27.1 thereof,

Whereas:

(1) The accounts of the European Central Bank (ECB) and national central banks of the Member States whose currency is the euro are audited by independent external auditors recommended by the ECB’s Governing Council and approved by the Council of the European Union.

(2) The mandate of the ECB’s current external auditors ended following the audit for the financial year 2012. It is therefore necessary to appoint external auditors from the financial year 2013.

(3) The ECB has selected Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft as its external auditors for the financial years 2013 to 2017,

HAS ADOPTED THIS RECOMMENDATION:

It is recommended that Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft should be appointed as the external auditors of the ECB for the financial years 2013 to 2017.
RECOMMENDATION OF THE EUROPEAN CENTRAL BANK

of 7 December 2018

on the Register of Institutions and Affiliates Data

(ECB/2018/36)

(2019/C 21/01)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 127(2) and (5), and the third indent of Article 132(1) thereof,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 5.1 thereof,

Whereas:

(1) The Register of Institutions and Affiliates Data (RIAD) is the shared dataset of reference data on legal and other statistical institutional units, the collection of which supports business processes across the Eurosystem and the performance of the tasks of the European System of Central Banks (ESCB) and the Single Supervisory Mechanism (SSM). The information recorded in RIAD is provided by the members of the Eurosystem and by national central banks (NCBs) of Member States whose currency is not the euro, where such NCBs voluntarily participate in the operation of RIAD.

(2) NCBs of Member States whose currency is not the euro participating in the operation of RIAD should cooperate with each other, with Eurosystem NCBs and with the European Central Bank in providing, updating and validating reference data for entities recorded in RIAD in accordance with Guideline (EU) 2018/876 of the European Central Bank (ECB/2018/16) (1) and, on a reciprocal basis, have access to, and share data on, on their domestic entities.

(3) In the interests of a close and effective cooperation across the ESCB for the management of RIAD, and in line with recital 9 of Guideline (EU) 2018/876 (ECB/2018/16), a recommendation should be adopted to complement that Guideline.

(4) The sharing of RIAD data is subject to the ESCB confidentiality regime or, in the case of non-statistical RIAD data, to other confidentiality protections, and the sharing of data between Member States whose currency is not the euro may be subject to additional legal constraints at national level,

HAS ADOPTED THIS RECOMMENDATION:

I. Definition

For the purposes of this Recommendation, the term ‘entity’ has the same meaning as defined in point 1 of Article 2 of Guideline (EU) 2018/876 (ECB/2018/16).

II. Provision of statistical information

The addressees of this Recommendation should apply the provisions addressed to the NCBs of the Member States whose currency is the euro contained in Guideline (EU) 2018/876 (ECB/2018/16).

III. Final provision

This Recommendation is addressed to the NCBs of Member States whose currency is not the euro.

Done at Frankfurt am Main, 7 December 2018. The President of the ECB Mario DRAGHI

(1) Guideline (EU) 2018/876 of the European Central Bank of 1 June 2018 on the Register of Institutions and Affiliates Data (ECB/2018/16) (OJ L 154, 18.6.2018, p. 3).
Official Journal of the European Union

RECOMMENDATION OF THE EUROPEAN CENTRAL BANK

of 14 February 2019

to the Council of the European Union on the external auditors of Banque centrale du Luxembourg

(ECB/2019/6)

(2019/C 67/01)

THE GOVERNING COUNCIL 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 27.1 thereof,

Whereas:

(1) The accounts of the European Central Bank (ECB) and the national central banks of the Member States whose currency is the euro are audited by independent external auditors recommended by the ECB’s Governing Council and approved by the Council of the European Union.

(2) The mandate of Banque centrale du Luxembourg’s current external auditors, Deloitte Audit SARL, ended after the audit for the financial year 2018. It is therefore necessary to appoint external auditors from the financial year 2019.

(3) Banque centrale du Luxembourg has selected Ernst & Young SA as its external auditors for the financial years 2019 to 2023,

HAS ADOPTED THIS RECOMMENDATION:

It is recommended that Ernst & Young SA should be appointed as the external auditors of Banque centrale du Luxembourg for the financial years 2019 to 2023.