Decision (EU) 2025/1114 of the European Central Bank of 20 May 2025 on the delegation of the power to take certain decisions on the publication of sanctions for failure to hold minimum reserves (ECB/2025/16)
Decision (EU) 2025/1114 of the European Central Bank of 20 May 2025 on the delegation of the power to take certain decisions on the publication of sanctions for failure to hold minimum reserves (ECB/2025/16)
Decision (EU) 2025/1114 · Decision · 4 articles
Data as of 2026-07-04 · Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
Delegation of the power to take certain decisions on the publication of sanctions for failure to hold minimum reserves
The Executive Board delegates to the member of the Executive Board to whom the Directorate-General Legal Services reports and the member of the Executive Board to whom the Directorate-General Market Operations reports, the power to jointly take, in accordance with Article 2, certain decisions on the publication of sanctions for failure to hold minimum reserves imposed pursuant to Article 7(1) of Regulation (EC) No 2531/98.
Decisions to publish sanctions for failure to hold minimum reserves shall be adopted pursuant to the delegation of powers laid down in Article 1 where the following criteria are met:
(a)
the undertaking concerned has objected to the publication of a sanction for the failure to hold minimum reserves, but not to the sanction itself;
(b)
the objections to publication raised by the undertaking concerned and the ECB’s technical and legal assessment of these objections are similar to those that underlie previous decisions on the publication of sanctions for the failure to hold minimum reserves that have been taken by the Executive Board;
(c)
the technical and legal assessment mentioned in point (b) that underlies the decision is that none of the exceptions provided for in Article 9(1) of Regulation (EC) No 2157/1999 (ECB/1999/4) apply and that the sanction should be published;
(d)
the competent national central bank that, acting on behalf of the Executive Board, has notified the undertaking concerned of the alleged failure to hold minimum reserves and of the corresponding sanction, agrees with the assessment referred to in point (c).
The members of the Executive Board to whom the Directorate-General Legal Services and the Directorate-General Market Operations report shall jointly report to the Executive Board on an annual basis on any decisions taken pursuant to Article 1 during the preceding calendar year.
