Date: 2023-03-23Category: Not ApplicableState: Union GovernmentCountry: Europe
Decision (EU) 2023/673 of the European Central Bank of 14 March 2023 nominating heads of work units to adopt delegated decisions relating to on-site inspections and internal model investigations (ECB/2023/6)
Executive Summary:
This decision by the European Central Bank (ECB) nominates heads of work units to adopt delegated decisions regarding on-site inspections and internal model investigations. It is based on the Treaty on the Functioning of the European Union and related ECB decisions. The decision enters into force twenty days after its publication in the Official Journal of the European Union.
Key Points / Main Content:
* **Definitions:**
* Definitions from Article 1 of Decision EU 2023/672 (ECB/2023/5) apply.
* **Delegation of Decisions:**
* The Director General or Deputy Director General of the Directorate General On-Site and Internal Model Inspections shall adopt delegated decisions pursuant to Article 3 of Decision EU 2023/672 (ECB/2023/5).
* **Entry Into Force:**
* This Decision shall enter into force on the twentieth day following its publication in the Official Journal of the European Union.
Impact Analysis:
* Director General and Deputy Director General of the Directorate General On-Site and Internal Model Inspections
* Impact: Empowered to adopt delegated decisions relating to on-site inspections and internal model investigations.
* Action Required: Implement delegated decision-making powers as outlined in Article 3 of Decision EU 2023/672 (ECB/2023/5).
Key Entities Referenced
European Central Bank: The central bank of the European Union countries that have adopted the euro.
Treaty on the Functioning of the European Union: A primary treaty of the European Union, outlining its scope, structure, and operations.
Statute of the European System of Central Banks and of the European Central Bank: The legal framework governing the European System of Central Banks (ESCB) and the European Central Bank (ECB).
Decision EU 2017/933: Decision EU 2017/933 of the European Central Bank of 16 November 2016 on a general framework for delegating decision-making powers for legal instruments related to supervisory tasks ECB/2016/40
Decision EU 2023/672: Decision EU 2023/672 of the European Central Bank of 10 March 2023 on delegation of the power to adopt decisions relating to onsite inspections and internal model investigations ECB/2023/5
Executive Board of the European Central Bank: The executive body of the European Central Bank responsible for the day-to-day management of the ECB.
Frankfurt am Main, Hesse: The city in Germany where the decision was made.
Christine Lagarde: The President of the European Central Bank (ECB).
L 84/24 EN Official Journal of the European Union 23.3.2023
DECISION (EU) 2023/673 OF THE EUROPEAN CENTRAL BANK
of 14 March 2023
nominating heads of work units to adopt delegated decisions relating to on-site inspections and
internal model investigations (ECB/2023/6)
THE EXECUTIVE BOARD 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 11.6 thereof,
Having regard to Decision (EU) 2017/933 of the European Central Bank of 16 November 2016on a general framework for
delegating decision-making powers for legal instruments related to supervisory tasks (ECB/2016/40)(1), and in particular
Articles 4 and 5 thereof,
Having regard to Decision (EU) 2023/672 of the European Central Bank of 10 March 2023on delegation of the power to
adopt decisions relating to on-site inspections and internal model investigations (ECB/2023/5)(2), and in particular
Article 3 thereof,
Having regard to Decision ECB/2004/2 of the European Central Bank of 19 February 2004adopting the Rules of Procedure
of the European Central Bank(3), and in particular Article 10 thereof,
Whereas:
(1) To address the considerable number of decisions that the European Central Bank (ECB) is to adopt for the
performance of its supervisory tasks, a procedure for the adoption of specific delegated decisions has been
established.
(2) A delegation decision is effective upon the adoption of a decision by the Executive Board nominating one or more
heads of work units to take decisions on the basis of a delegation decision.
(3) The importance of the delegation decision and the number of addressees to whom delegated decisions need to be
sent should be taken into account by the Executive Board in nominating heads of work units.
(4) Article 10(1) of Decision ECB/2004/2 of the European Central Bank provides that the Executive Board is to decide
upon the number, name and respective competence of each of the work units of the ECB.
(5) The Chair of the Supervisory Board has been consulted on the heads of work units to whom the power to adopt
delegated decisions relating to on-site inspections and internal model investigations should be delegated,
HAS ADOPTED THIS DECISION:
Article 1
Definitions
For the purposes of this Decision, the definitions contained in Article 1 of Decision (EU) 2023/672 (ECB/2023/5) shall
apply.
(1) OJ L 141, 1.6.2017, p. 14.
(2) OJ L 84, 23.3.2023, p. 18.
(3) OJ L 80, 18.3.2004, p. 33.23.3.2023 EN Official Journal of the European Union L 84/25
Article 2
Delegated decisions relating to on-site inspection and internal model investigations
Delegated decisions pursuant to Article 3 of Decision (EU) 2023/672 (ECB/2023/5) shall be adopted by the Director-
General or the Deputy Director-General of the Directorate-General On-Site and Internal Model Inspections.
Article 3
Entry into force
This Decision shall enter into force on the twentieth day following that of its publication in the Official Journal of the
European Union.
Done at Frankfurt am Main, 14 March 2023.
The President of the ECB
Christine LAGARDE