ECB launches second public consultation on harmonising options and discretions available in Union law

• Draft Addendum to the existing ECB Guide a step to further harmonise supervision of significant banks in the euro area
• The consultation period starts today and ends on 21 June 2016
• The consultation includes a public hearing on 3 June 2016

The European Central Bank (ECB) today published a draft Addendum to the ECB Guide on options and discretions available in Union law. This document addresses eight options and discretions, complementing the existing Guide and Regulation published on 24 March 2016, which deal with 115 options and discretions.

The consultation opens today and ends on 21 June 2016. The consultation documents, comprising the draft Addendum to the Guide and an explanatory memorandum are available on the ECB’s banking supervision website. The policies submitted for this consultation do not affect the content of the ECB Regulation on the exercise of options and discretions available in Union law (Regulation (EU) 2016/445). The Regulation has been published in the Official Journal of the EU and will enter into force on 1 October 2016, in accordance with Article 25 of the Regulation.

The ECB will hold a public hearing on the draft Addendum on 3 June 2016, at 10:00 CET, at its premises in Frankfurt am Main. A webcast of the hearing will be made available on the ECB’s banking supervision website. Information on registering for the public hearing and on how to submit comments can also be found on the website. Following the public consultation the ECB will publish the comments received, together with responses and an assessment of the comments.

Subsequently, a consolidated version of the ECB Guide on options and discretions available in Union law, including the approach for the recognition of institutional protection schemes, will be published on the ECB’s website.

For media queries, please contact Rolf Benders, tel.: +49 69 1344 6925.