Home› Europe› EEA Joint Committee› Decision of the EEA Joint Committee No 214/2021 of 9 July 20...
Date: 8-Feb-2024 Category: Not Applicable State: Union Government Country: Europe

Decision of the EEA Joint Committee No 214/2021 of 9 July 2021 amending Annex IX (Financial services) to the EEA Agreement [2024/294]

Issued by EEA Joint Committee · Not Applicable

Research with AI Agent Chat with Document Generate Summary Translate Helpful Share Add to Project Create Task

Executive Summary & Key Takeaways

What it means

  • The Decision of the EEA Joint Committee No 214/2021 amends Annex IX (Financial services) to the EEA Agreement to incorporate Commission Implementing Regulation (EU) 2021/249 regarding closely correlated currencies.

Key Changes

  • Commission Implementing Regulation (EU) 2021/249 of 17 February 2021, which amends Implementing Regulation (EU) 2015/2197 concerning closely correlated currencies under Regulation (EU) No 575/2013, is added to Annex IX of the EEA Agreement.
  • The decision adds the following indent to point 14ax of Annex IX: ‘— 32021 R 0249: Commission Implementing Regulation (EU) 2021/249 of 17 February 2021(OJ L 57, 18.2.2021, p. 86).’
  • The decision entered into force on 10 July 2021, provided that all notifications under Article 103(1) of the EEA Agreement have been made.

Impact Analysis

Financial Institutions within the EEA

  • Action Items: Review internal policies and procedures to ensure compliance with the amended regulations. Update risk management models and reporting mechanisms to reflect the changes in the treatment of closely correlated currencies.

EEA Member States

  • Action Items: Ensure national regulations align with the updated Annex IX of the EEA Agreement. Communicate the changes to relevant stakeholders within the financial sector.

Businesses Engaged in Cross-Border Transactions

  • Action Items: Monitor currency fluctuations and adjust hedging strategies as necessary. Consult with financial advisors to understand the implications of the changes on cross-border transactions.

Key Entities Referenced

EEA Joint Committee: The decision-making body responsible for amending the EEA Agreement. Commission Implementing Regulation (EU) 2021/249: Regulation amending Implementing Regulation (EU) 2015/2197 with regard to closely correlated currencies in accordance with Regulation (EU) No 575/2013. EEA Agreement: The Agreement on the European Economic Area. Regulation (EU) No 575/2013: Regulation of the European Parliament and of the Council referenced by Commission Implementing Regulation (EU) 2021/249. Commission Implementing Regulation (EU) 2015/2197: Regulation amended by Commission Implementing Regulation (EU) 2021/249.
Official Source Record View Original Source →
See Full Document Text
Official Journal EN of the European Union L series 2024/294 8.2.2024 DECISION OF THE EEA JOINT COMMITTEE No 214/2021 of 9 July 2021 amending Annex IX (Financial services) to the EEA Agreement [2024/294] THE EEA JOINT COMMITTEE, Having regard to the Agreement on the European Economic Area (“the EEA Agreement”), and in particular Article 98 thereof, Whereas: (1) Commission Implementing Regulation (EU) 2021/249 of 17 February 2021 amending Implementing Regulation (EU) 2015/2197 with regard to closely correlated currencies in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council(1)is to be incorporated into the EEA Agreement. (2) Annex IX to the EEA Agreement should therefore be amended accordingly, HAS ADOPTED THIS DECISION: Article 1 The following indent is added in point 14ax (Commission Implementing Regulation (EU) 2015/2197) of Annex IX to the EEA Agreement: ‘— 32021 R 0249: Commission Implementing Regulation (EU) 2021/249 of 17 February 2021(OJ L 57, 18.2.2021, p. 86).’ Article 2 The text of Implementing Regulation (EU) 2021/249 in the Icelandic and Norwegian languages, to be published in the EEA Supplement to the Official Journal of the European Union, shall be authentic. Article 3 This Decision shall enter into force on 10 July 2021, provided that all the notifications under Article 103(1) of the EEA Agreement have been made*. Article 4 This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European Union. Done at Brussels, 9 July 2021. For the EEA Joint Committee The President Rolf Einar FIFE (1) OJ L 57, 18.2.2021, p. 86. * No constitutional requirements indicated. ELI: http://data.europa.eu/eli/dec/2024/294/oj 1/1

Continue your research

Related Documents from EEA Joint Committee