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July 12, 2017

Decision (EU) 2017/1258 of ECB on the delegation of decisions on the transmission of confidential statistical information to the SRB (ECB/2017/22) was published in the Official Journal of the European Union. Given the significantly increased volume of requests from the SRB to transmit confidential statistical information, the decision is being adopted as a matter of urgency and will enter into force on the day of its publication in the Official Journal of the European Union.

The Decision specifies certain criteria for the adoption of delegated decisions on the transmission of confidential statistical information to the SRB. The criteria in Article 3 specifies that a decision on the transmission of confidential statistical information to the SRB shall only be taken by means of a delegated decision where this information is, pursuant to Article 8(4a) of Regulation (EC) No 2533/98, necessary for the exercise of the tasks of the SRB. The confidential statistical information to be transmitted to the SRB must be adequate, relevant, and not excessive in relation to those tasks. Furthermore, a decision on the transmission of confidential statistical information to the SRB shall only be taken by means of a delegated decision where the:

Information is necessary for the SRB to run a Public Interest Test to assess whether and how resolution measures would impact the counterparties from a financial stability perspective and to assess financial interconnectedness with other financial institutions and counterparties

Transmission of this information would not be prejudicial to the performance of the tasks of the European System of Central Banks

 

Related Link: Decision (PDF)

Effective Date: July 12, 2017

Keywords: Europe, Banking, Statistics, SRB, ECB

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