Rules of procedure of the European Central Bank as amended on 22 April 1999
Date: 1999-04-22
Institutions: European Central Bank
Subjects: European Central Bank, institutional structure, operation of the Institutions

L 125/34

EN

Official Journal of the European Communities

19. 5. 1999

RULES OF PROCEDURE OF THE EUROPEAN CENTRAL BANK AS
AMENDED ON 22 APRIL 1999

THE GOVERNING COUNCIL OF THE EUROPEAN
CENTRAL BANK,

Union, and a member of the Commission of the Euro-
pean Communities.

Having regard to the Protocol on the Statute of the Euro-
the European
pean System of Central Banks and of
Central Bank (hereinafter referred to as the ‘Statute') and
in particular to Article 12.3 thereof,

Each Governor may normally be accompanied by
3.2.
one person for those parts of the meetings which are not
related to monetary policy deliberations.

HAS DECIDED TO ADOPT THESE RULES OF PROCE-
DURE:

PRELIMINARY CHAPTER

Article 1

Treaty and Statute

3.3.
If a Governor is unable to attend, he/she may
in writing, an alternate without prejudice to
appoint,
Article 4. This written communication shall be sent to the
President in due time before the meeting.

The Governing Council may also invite other
3.4.
persons to attend its meetings if it deems it appropriate to
do so.

These Rules of Procedure shall supplement the Treaty
establishing
(hereinafter
the European Community
referred to as the ‘Treaty') and the Statute. The terms in
these Rules of Procedure shall have the meaning which
they have in the Treaty and the Statute.

Article 4

Voting

CHAPTER I

THE GOVERNING COUNCIL

Article 2

Date and place of Governing Council meetings

2.1.
The date of the meetings shall be decided by the
Governing Council on a proposal from the President. The
Council shall, in principle, meet regularly following a
schedule determined by the Governing Council in good
time before the start of each calendar year.

2.2.
the
The President shall convene a meeting of
Governing Council if a request for a meeting is submitted
by at least three members of the Governing Council.

2.3.
The President may also convene meetings of the
Governing Council whenever he/she deems it necessary.

2.4.
The Governing Council shall normally hold its
meetings on the premises of the European Central Bank
(hereinafter referred to as the ‘ECB').

2.5. Meetings may also be held by means of teleconfer-
encing, unless at least three Governors object.

Article 3

Attendance at Governing Council meetings

Except as provided hereto, attendance at meetings
3.1.
of
shall be restricted to its
members, the President of the Council of the European

the Governing Council

4.1.
In order for the Governing Council to vote, there
shall be a quorum of two-thirds of the members. If the
quorum is not met, the President may convene an extra-
ordinary meeting at which decisions may be taken
without regard to the quorum.

4.2.
The Governing Council shall proceed to vote at
the request of the President. The President shall also
initiate a voting procedure if any member
requests
him/her to do so.

4.3.
Abstentions shall not prevent the adoption by the
Governing Council of decisions under Article 41.2 of the
Statute.

If

a member of

4.4.
is
prevented from voting for a prolonged period (of more
than one month), he/she may appoint an alternate as a
member of the Governing Council.

the Governing Council

In accordance with Article 10.3 of the Statute, if a
4.5.
Governor is unable to vote on a decision to be taken
under Articles 28, 29, 30, 32, 33 and 51 of the Statute,
his/her appointed alternate may cast his/her weighted
vote.

The President may initiate a secret ballot

4.6.
if
requested to do so by three members of the Governing
Council. If members of the Governing Council are perso-
nally affected by a prospective decision under Articles
11.1, 11.3 or 11.4 of the Statute, there shall always be
secret balloting. In such cases the members concerned
shall not participate in the vote.

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4.7. Decisions may also be taken by written procedure,
unless at least three members of the Governing Council
object. A written procedure shall require: (i) normally not
less than five working days for consideration by every
member of the Governing Council; (ii) the personal signa-
ture of each member of
(or
his/her alternate in accordance with Article 4.4); and (iii) a
record of any such decision to be made in the minutes of
the next meeting of the Governing Council.

the Governing Council

Article 5

the Executive Board personally
7.3. Members of
affected by a prospective decision under Articles 11.1,
11.3 or 11.4 of the Statute shall not participate in the vote.

Article 8

Organisation of Executive Board meetings

The Executive Board shall decide on the organisation of
its meetings.

Organisation of Governing Council meetings

CHAPTER III

5.1.
The agenda for each meeting shall be adopted by
the Governing Council. A provisional agenda shall be
drawn up by the Executive Board and shall be sent,
together with the related documents, to the members of
the Governing Council and other authorised participants
at least eight days before the relevant meeting, except in
emergencies, in which case the Executive Board shall act
appropriately with a view to the circumstances. The
Governing Council may decide to remove items from or
add items to the provisional agenda on a proposal from
the President or
the Governing
Council. An item shall be removed from the agenda at
the request of at least three of its members if the related
documents were not sent to the members in due time.

from a member of

5.2.
The minutes of the proceedings of the Governing
Council shall be submitted to its members for approval at
the next meeting (or earlier, if necessary, by written proce-
dure) and shall be signed by the President.

CHAPTER II

THE EXECUTIVE BOARD

Article 6

Date and place of Executive Board meetings

The date of the meetings shall be decided by the

6.1.
Executive Board on a proposal from the President.

The President may also convene meetings of the

6.2.
Executive Board whenever he/she deems it necessary.

Article 7

Voting

7.1.
In order for the Executive Board to vote, in accord-
ance with Article 11.5 of the Statute, there shall be a
quorum of two-thirds of the members. If the quorum is
not met, the President may convene an extraordinary
meeting at which decisions may be taken without regard
to the quorum.

7.2. Decisions may also be taken by written procedure,
unless at
the Executive Board
object.

two members of

least

THE ORGANISATION OF THE EUROPEAN CENTRAL
BANK

Article 9

Committees of the European System of Central
Banks

9.1.
Committees of the European System of Central
Banks (hereinafter referred to as ‘ESCB Committees'),
composed of representatives of
the
national central bank of each participating Member State,
will be formed to assist in the work of the European
System of Central Banks (hereinafter referred to as the
‘ESCB').

the ECB and of

shall

The Governing Council

9.2.
lay down the
mandates of the ESCB Committees and appoint their
chairpersons. As a rule, the chairperson shall be a repres-
entative of the ECB. Both the Governing Council and the
Executive Board shall have the right to request studies of
specific topics by ESCB Committees.

9.3.
ESCB Committees shall report to the Governing
Council via the Executive Board. The Banking Super-
visory Committee shall not be obliged to report via the
Executive Board whenever it acts as a forum for consulta-
tion on issues which are not related to the supervisory
functions of the ESCB as defined in the Treaty and in the
Statute.

The national central bank of each non-partici-
9.4.
pating Member State may also appoint a representative to
take part in the meetings of an ESCB Committee when-
ever it deals with matters which fall within the field of
competence of the General Council. The representatives
may also be invited to take part in meetings whenever
this is deemed appropriate by the chairperson of a
Committee and the Executive Board.

For

specific matters of direct

to the
9.5.
Commission of the European Communities, representa-
tives of the Commission services may be invited to attend
meetings of ESCB Committees. Representatives of other
Community bodies and of
third parties may also be
invited if and where deemed appropriate.

interest

The ECB shall provide secretarial assistance to the

9.6.
ESCB Committees.

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Article 10

Internal structure

the
10.1. Having consulted the Governing Council,
Executive Board shall decide upon the number, name and
respective competence of each of the work units of the
ECB. This decision shall be made public.

All work units of the ECB shall be placed under
10.2.
the managing direction of the Executive Board. The Exec-
utive Board shall decide upon the individual responsibili-
ties of its members with respect to the work units of the
ECB, and shall
the
General Council and the staff of the ECB thereof. Any
such decision shall be taken only in the presence of all
the members of the Executive Board, and may not be
taken against the vote of the President.

inform the Governing Council,

Article 11

Staff of the ECB

11.1.
Each member of the staff of the ECB shall be
informed of his/her position within the structure of the
ECB, his/her
reporting line and his/her professional
responsibilities.

11.2. Without prejudice to Articles 36 and 47 of the
Statute, the Executive Board shall enact organisational
rules (hereinafter referred to as ‘Administrative Circulars').
Such rules shall be obligatory for the staff of the ECB.

11.3.
The Executive Board shall enact and update a
Code of Conduct for the guidance of its members and of
members of its staff.

CHAPTER IV

INVOLVEMENT OF THE GENERAL COUNCIL IN THE
TASKS OF THE EUROPEAN SYSTEM OF CENTRAL
BANKS

Article 12

Relationship between the Governing Council and
the General Council

The General Council of the ECB shall be given
12.1.
the opportunity to submit observations before the
Governing Council adopts:

(cid:190) opinions under Articles 4 and 25.1 of the Statute,
(cid:190) ECB Recommendations in the statistical field, under

Article 42 of the Statute,

(cid:190) the annual report,
(cid:190) the rules on the standardisation of accounting rules

and reporting of operations,

(cid:190) the measures for the application of Article 29 of the

Statute,

(cid:190) the conditions of employment of the staff of the ECB,

(cid:190) in the context of the preparations for the irrevocable
fixing of exchange rates, an ECB opinion either under
Article 109L(5) of the Treaty or concerning EC legal
acts to be adopted when a derogation is abrogated.

12.2. Whenever the General Council is requested to
submit observations under the above paragraph, it shall be
given a reasonable period of time within which to do so,
which may not be less than ten working days. In a case of
urgency (which must be justified in the request),
the
period may be reduced to five working days. The Pres-
ident may decide to use written procedure.

12.3.
The President shall inform the General Council,
in accordance with Article 47.4 of the Statute, of decisions
adopted by the Governing Council.

Article 13

Relationship between the Executive Board and the
General Council

13.1.
The General Council of the ECB shall be given
the opportunity to submit observations before the Execu-
tive Board:

(cid:190) implements legal acts of the Governing Council for
in accordance with Article 12.1 above, the

which,
contribution of the General Council is required,

(cid:190) adopts, by virtue of powers delegated by the
Governing Council in accordance with Article 12.1 of
the Statute, legal acts for which, in accordance with
Article 12.1 of these Rules, the contribution of the
General Council is required.

13.2. Whenever the General Council is requested to
submit observations under the above paragraph, it shall be
given a reasonable period of time within which to do so,
which may not be less than ten working days. In a case of
urgency (which must be justified in the request),
the
period may be reduced to five working days. The Pres-
ident may decide to use written procedure.

CHAPTER V

SPECIFIC PROCEDURAL PROVISIONS

Article 14

Delegation of powers

The delegation of powers of

14.1.
the Governing
Council to the Executive Board under Article 12.1, second
paragraph, last sentence, of the Statute shall be notified to
in
the parties concerned, or published if appropriate,
matters having legal effects on third parties. Acts adopted
by way of delegation shall be promptly notified to the
Governing Council.

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The book of authorised signatories of the ECB,
14.2.
established pursuant to decisions adopted under Article
39 of the Statute, shall be circulated to interested parties.

place by means of telefax, electronic mail or telex or in
paper form. Any ECB guideline that is to be officially
published shall be translated into the official languages of
the European Communities.

Article 15

Budgetary procedure

15.1.
The Governing Council, acting upon a proposal
from the Executive Board in accordance with any princi-
ples laid down by the former, shall adopt, before the end
of each financial year, the budget of the ECB for the
subsequent financial year.

15.2.
For assistance in matters related to the budget of
the ECB, the Governing Council shall establish a Budget
Committee and lay down its mandate and composition.

Article 16

Reporting and annual accounts

The competence to adopt

16.1.
report
required under Article 15.3 of the Statute shall pertain to
the Governing Council.

the annual

16.2.
The competence to adopt and publish the quar-
terly reports under Article 15.1 of the Statute, the weekly
consolidated financial statements under Article 15.2 of
the Statute, the consolidated balance sheets under Article
26.3 of the Statute and other reports shall be delegated to
the Executive Board.

The Executive Board shall, in accordance with
16.3.
the principles established by the Governing Council,
prepare the annual accounts of the ECB within the first
month of the subsequent financial year. These shall be
submitted to the external auditor.

16.4.
The Governing Council shall adopt the annual
accounts of the ECB within the first quarter of the subse-
quent year. The external
shall be
submitted to the Governing Council before their adop-
tion.

auditor’s

report

Article 17

Legal instruments of the ECB

ECB regulations

17.1.
the
Governing Council and signed on its behalf by the Pres-
ident.

adopted by

shall be

shall be

adopted by

ECB guidelines

17.2.
the
Governing Council, and thereafter notified, in one of the
the European Communities, and
official
signed on the Governing Council’s behalf by the Pres-
ident. They shall state the reasons on which they are
based. Notification of the national central banks may take

languages of

17.3.
The Governing Council may delegate its norma-
tive powers to the Executive Board for the purpose of
implementing its regulations and guidelines. The regula-
tion or guideline concerned shall specify the issues to be
implemented as well as the limits and scope of the dele-
gated powers.

17.4.
ECB decisions and recommendations shall be
adopted by the Governing Council or the Executive
Board in their respective domain of competence, and
shall be signed by the President. They shall state the
reasons on which they are based. The recommendations
for secondary Community legislation under Article 42 of
the Statute shall be adopted by the Governing Council.

17.5. Without prejudice to Article 44, second para-
graph, and Article 47.1, first indent, of the Statute, ECB
opinions shall be adopted by the Governing Council.
in exceptional circumstances and unless not
However,
less than three Governors state their wish to retain the
competence of the Governing Council for the adoption of
specific opinions, ECB opinions may be adopted by the
Executive Board, in line with comments provided by the
Governing Council and taking into account the contribu-
tion of
the General Council. ECB opinions shall be
signed by the President.

17.6.
ECB Instructions shall be adopted by the Execu-
tive Board, and thereafter notified, in one of the official
languages of the European Communities, and signed on
the Executive Board’s behalf by the President or any two
Executive Board members. Notification of the national
central banks may take place by means of telefax, elec-
tronic mail or telex or in paper form. Any ECB Instruc-
tion that is to be officially published shall be translated
into the official languages of the European Communities.

All ECB legal

instruments shall be numbered
17.7.
sequentially for ease of
identification. The Executive
Board shall take steps to ensure the safe custody of the
originals, the notification of the addressees or consulting
authorities,
the official
and the publication in all
languages of the European Communities in the Official
Journal of the European Communities in the case of
ECB Regulations, ECB opinions on draft Community
legislation and those ECB legal instruments whose publi-
cation has been expressly decided.

17.8.
The principles of Council Regulation No 1 of 15
April 1958 shall be applied to the legal acts of the ECB
foreseen in Article 34 of the Statute.

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Article 18

Procedure under Article 105a(2) of the Treaty

The approval provided for in Article 105a(2) of the Treaty
shall be adopted by the Governing Council in a single
decision for all participating Member States within the
last quarter of every year and for the following year.

Article 19

Procurement

19.1.
In the procurement of goods and services for the
ECB due regard shall be given to the principles of
publicity, transparency, equal access, non-discrimination
and efficient administration.

19.2. Without derogation to the principle of efficient
administration, exceptions may be made to the above
principles in cases of urgency; for reasons of security or
secrecy; where there is a sole supplier; for supplies from
the national central banks to the ECB; to ensure the
continuity of a supplier; and for assets acquired from the
European Monetary Institute (hereinafter referred to as
the ‘EMI').

Article 20

Selection, appointment and promotion of staff

20.1.
and promoted by the Executive Board.

All members of staff shall be selected, appointed

20.2. Members of staff shall be selected, appointed and
promoted with due regard to the principles of profes-
sional qualification, publicity, transparency, equal access
and non-discrimination. An administrative circular shall
further specify the rules and procedures for recruitment
and for internal promotion.

20.3.
members of
without specific recruitment rules and procedures.

The Executive Board may recruit for the ECB
the EMI (under liquidation)

the staff of

Article 21

Conditions of Employment

21.1.
The employment relationship between the ECB
and its staff shall be determined by the Conditions of
Employment and the Staff Rules.

The Conditions

21.2.
be
approved and amended by the Governing Council upon a
proposal from the Executive Board. The General Council

of Employment

shall

shall be consulted under the procedure laid down in these
Rules of Procedure.

21.3.
The Conditions of Employment shall be imple-
mented by Staff Rules, which shall be adopted and
amended by the Executive Board.

21.4.
The Staff Committee shall be consulted before
the adoption of new Conditions of Employment or Staff
Rules. Its opinion shall be submitted, respectively, to the
Governing Council or the Executive Board.

Article 22

Communications and announcements

General communications and announcements of deci-
sions taken by the decision-making bodies of the ECB
may be effected through the Official Journal of the
European Communities and by means of wire services
common to financial markets.

Article 23

Confidentiality of and access to ECB documents
and archives

The proceedings of the decision-making bodies
23.1.
of the ECB and of any committee or group established by
them shall be confidential unless the Governing Council
authorises the President to make the outcome of their
deliberations public.

23.2.
All documents drawn up by the ECB shall be
confidential unless the Governing Council decides other-
wise. Access to ECB documentation and archives and to
documents previously held in the archives of the EMI
the European
shall be governed by the Decision of
Central Bank of 3 November 1998 concerning public
access to documentation and the archives of the European
Central Bank (ECB/1998/12) (1).

in the

archives

23.3. Documents held
the
Committee of Governors of the Central Banks of the
Member States of the European Economic Community, of
the EMI and of the ECB shall be freely accessible after
thirty years. In special cases the Governing Council may
shorten this period.

of

CHAPTER VI

FINAL PROVISIONS

Article 24

Amendments to these Rules of Procedure

The Governing Council may amend these Rules of Proce-
dure. The General Council may propose amendments and
the Executive Board may adopt supplementary rules
within its field of competence.

(1) OJ L 110, 28.4.1999, p. 30.

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Article 25

Publication

These Rules of Procedure shall be published in the Official Journal of the European
Communities.

Done at Frankfurt am Main, 22 April 1999.

For and on behalf of the Governing
Council

The President

Willem F. DUISENBERG