How to harmonise options and discretions in banking supervision

USPA NEWS - Last month ECB publishes an Addendum to the Guide on how to harmonise options and discretions in banking supervision
● Addendum to the existing ECB Guide a further step in harmonising supervision of significant banks in the euro area
● Publication marks the end of the public consultation process

The European Central Bank (ECB) published the Addendum to the ECB Guide on options and discretions available in Union law. The Addendum addresses eight options and discretions and complements the existing Guide and Regulation published on 24 March 2016.
A consolidated version of the ECB Guide on options and discretions available in Union law, including the Addendum and the approach for the recognition of institutional protection schemes, will be published on the ECB´s website later this year. This document lays down how the exercise of options and discretions in banking legislation is to be harmonised in the euro area.

“This completes the ECB Banking Supervision´s programme of harmonising the options and discretions available in Union banking law“, said Ignazio Angeloni, Member of the Supervisory Board of the ECB. The Addendum was approved by the ECB´s Governing Council following a public consultation, including a public hearing. It reflects comments received from interested parties during the consultation. The comments received from the public, along with the related feedback statement, and the Addendum itself are published on the ECB´s banking supervision website.