Europese Raad wil toezicht door ECB en aanpassingen EBA regels (en)
COUNCIL OF THE EUROPEAN UNION
PRESSE 524 PR CO 77
PRESS RELEASE
3214th Council meeting Economic and Financial Affairs
Brussels, 12 December 2012
President Mr Vassos SHIARLY
Minister for Finance of Cyprus
CONTTS1
PARTICIPANTS
4
ITEMS DEBATED
Bank supervision
OTHER ITEMS APPROVED
none
Where declarations, conclusions or resolutions have been formally adopted by the Council, this is indicated in the heading for the item concerned and the text is placed between quotation marks. Documents for which references are given in the text are available on the Council's Internet site (http://www.consilium.europa.eu)
Acts adopted with statements for the Council minutes which may be released to the public are indicated by an asterisk; these statements are available on the Council's Internet site or may be obtained from the Press Office
12.XII.2012
PARTICIPANTS
Belgium:
Mr Steven VANACKERE
Bulgaria:
Mr Simeon D.TANKOV
Czech Republic:
Mr Tomas ZIDEK Mr Radek URBAN
Denmark:
Ms Margrethe VESTAGER Germany:
Mr Wolfgang SCHAUBLE
Estonia:
Mr Jürgen LIGI
Ireland:
Mr Michael NOONAN Greece:
Mr Ioannis STOURNARAS Spain:
Mr Luis DE GUINDOS JURADO France:
Mr Pierre MOSCOVICI Italy:
Mr Ferdinando NELLI FEROCI Cyprus:
Mr Vassos SHIARLY Latvia:
Mr Andris VILKS Lithuania:
Mr Raimundas KAROBLIS
Luxembourg:
Mr Luc FRIED
Hungary:
Mr Péter GYÖRKÖS Malta:
Mr Tonio FECH Netherlands:
Mr Jeroen DI.TSSELBLOEM Austria:
Ms Maria FEKTER Poland:
Mr Jacek DOMTNIK
Portugal:
Mr Vitor GASPAR
Romania:
Mr Claudiu DOLTU Slovenia:
Mr Janez SUSTERSIC
Deputy Prime Minister and Minister for Finance and Sustainable Development, with responsibility for the Civil Service
Deputy Prime Minister and Minister for Finance
Deputy Minister for Finance Deputy- Mnister for Finance
Minister for Economic Affairs and the Interior
Federal Minister for Finance
Minister for Finance
Minister for Finance
Minister for Finance
Minister for Economic Affairs and Competitiveness Minister for the Economy and Finance Permanent Representative Minister for Finance Minister for Finance Permanent Representative Minister for Finance Permanent Representative
Minister of Finance, the Economy and Investment
Minister for Finance
Federal Minister for Finance
Deputy- State Secretary, Ministry of Finance
Ministro de Estado, Minister for Finance
State Secretary, Ministry of Public Finance
Minister for Finance
12.XII.2012
Slovakia:
Mr Ivan KORCOK Finland:
Ms Jutta URPILAIN Sweden:
Mr Anders BORG
United Kingdom:
Mr George OSBORNE
Permanent Representative
Deputy Prime Minister, Minister for Finance
Minister for Finance
Chancellor of the Exchequer
Commission:
Mr Michel BARNIER
Member
Other participants:
Mr Mario DRAGHI Mr Werner HOYER Mr Hans VIJLBRIEF
President of the European Central Bank President of the European Investment Bank President of the Economic Policy Committee
The government of the acceding state was represented as follows:
Croatia:
Mr Vladimir DROBNJAK
Permanent Representative
12.XII.2012
ITEMS DEBATED Bank supervision
The Council agreed a general approach on proposals aimed at establishing a single supervisory mechanism (SSM) for the oversight of credit institutions
Agreement in the Council will enable the presidency to negotiate with the European Parliament with the aim of adopting the legislation before the end of the year, in line with the October European Council's conclusions
The proposals involve two regulations: one conferring supervisory tasks on the European Central Bank, the other modifying regulation establishing the European Banking Authority
The October European Council asked the presidency to lead negotiations on the two regulations with a view to reaching an agreement before 1 January 2013, whilst indicating that work on operational implementation would take place during 2013 {see conclusions, EUCO , esp. paras 6-10).
In June, eurozone heads of state and government stated that when an effective SSM is established, the European Stability Mechanism, which currently contributes to bank capitalisations via member state treasuries, "could, following a regular decision, have the possibility to recapitalise banks directly." This will make it possible for the vicious circle between banks and sovereigns - which has been a salient feature of the debt crisis in Europe - to be broken
The SSM will be made up of the ECB and national competent authorities. The ECB will be responsible for the overall functioning of the SSM. Under the proposals, the ECB will have direct oversight of eurozone banks, although in a differentiated way and in close cooperation with national supervisory authorities. Non-eurozone member states wishing to participate in the SSM will be able to do so by entering into close cooperation arrangements
The ECB's monetary tasks would be strictly separated from supervisory tasks, to eliminate potential conflicts of interest between the objectives of monetary policy and prudential supervision. To that end, a supervisory board responsible for the preparation of supervisory tasks would be set up within the ECB. Non-eurozone countries participating in the SSM would have full and equal voting rights on the supervisory board. The board's draft decisions would be deemed adopted unless rejected by the ECB governing council
12.XII.2012
National supervisors would remain in charge of tasks not conferred on the ECB, for instance in relation to consumer protection, money laundering, payment services, and branches of third country banks. The EBA would retain its competence for further developing the single rulebook and ensuring convergence and consistency in supervisory practice
The proposals envisage changes to the EBA regulation, in particular as regards voting procedures, to ensure equitable and effective decision-making within the single market. The amendments would ensure that the countries participating in the SSM would not unduly dominate the EBA's board of supervisors
The ECB will assume its supervisory tasks within the SSM on 1 March 2014 or 12 months after the entry into force of the legisation, whichever is later, subject to operational arrangements
12.XII.2012
OTHER ITEMS APPROVED
None