20/05/2016 Press Release
Market operations
Decisions related to the implementation of the second series of targeted longer-term refinancing operations
On 28 April 2016 the Governing Council adopted Decision ECB/2016/10 on a second series of targeted longer-term refinancing operations (TLTROs) and Decision ECB/2016/11 amending Decision ECB/2014/34 on measures relating to targeted longer-term refinancing operations. Decision ECB/2016/10 establishes the legal framework for the second series of TLTROs, which the Governing Council decided to launch on 10 March 2016. Decision ECB/2016/11 amends Decision ECB/2014/34 to allow financial institutions to repay in June 2016 amounts borrowed under the first series of TLTROs and borrow under the second series. Both Decisions are available on the ECB’s website.
Financial stability and supervision
Financial Stability Review May 2016
On 18 May 2016 the Governing Council authorised the publication of the “Financial Stability Review – May 2016”, which reviews the main sources of risk and vulnerability in terms of the stability of the euro area financial system and provides a comprehensive analysis of the capacity of the euro area financial system to absorb shocks. It is due to be published on the ECB’s website on 24 May 2016.
Payment systems and market infrastructure
TARGET Annual Report 2015
On 11 May 2016 the Governing Council took note of the TARGET Annual Report for 2015, which was subsequently published on the ECB’s website. The TARGET Annual Report provides information on TARGET2 traffic activity, its operational performance and the main developments that took place in 2015. This year’s report provides high-level quantitative indicators, thereby increasing the level of transparency on the system’s financial performance.
Advice on legislation
ECB Opinion on a proposal for a regulation amending Regulation (EU) No 600/2014 on markets in financial instruments, Regulation (EU) No 596/2014 on market abuse and Regulation (EU) No 909/2014 on improving securities settlement in the European Union and on central securities depositories as regards certain dates, and a proposal for a directive amending Directive 2014/65/EU on markets in financial instruments as regards certain dates
On 29 April 2016 the Governing Council adopted Opinion CON/2016/27 at the request of the Council of the European Union.
On 3 May 2016 the Governing Council adopted Opinion CON/2016/28 at the request of the Slovenian Ministry of Finance.
Statistics
Regulation on the collection of granular credit and credit risk data
On 18 May 2016 the Governing Council adopted Regulation ECB/2016/13 on the collection of granular credit and credit risk data and Decision ECB/2016/14 amending Decision ECB/2014/6 on the organisation of preparatory measures for the collection of granular credit data by the European System of Central Banks. The Governing Council also approved the publication on the ECB’s website of a document reflecting feedback received on an earlier draft of the Regulation.
International and European cooperation
15th annual review of the international role of the euro
On 12 May 2016 the Governing Council approved the 15th annual review of the international role of the euro and authorised its publication on the ECB’s website. This year’s report is an interim report which presents a more concise overview of developments in the use of the euro by non-euro area residents relative to previous reports, while providing updated statistical information on the main indicators of the euro’s international status of interest to the general public. Reflecting the fact that developments in this field are not necessarily fast-moving, as of this year, fully fledged reports will only be prepared every two years, while shorter, interim reports will be published in between.
Banknotes
End of the production and issuance of the €500 banknote
On 4 May 2016 the Governing Council decided to permanently stop producing the €500 banknote and exclude it from the Europa series. It also decided that the issuance of the €500 would be stopped around the end of 2018, when the €100 and €200 banknotes of the Europa series are planned to be introduced. The other denominations, from €5 to €200, will remain in place. Finally, the Governing Council confirmed that the €500 banknote would remain legal tender and could therefore continue to be used as a means of payment and store of value. A related press release was published on the same day on the ECB’s website.
Accreditation procedures for manufacturers of euro secure items and euro items
On 6 May 2016 the Governing Council adopted Decision ECB/2016/12 amending Decision ECB/2013/54 on the accreditation procedures for manufacturers of euro secure items and euro items. The amending legal act strengthens the conditions under which appropriate and proportionate penalties, including financial penalties, are imposed on manufacturers producing euro banknotes or their components in the event of non-compliance, to cover all scenarios that could require financial sanctions to be imposed pursuant to Article 20 of Decision ECB/2013/54. The Decision is available on the ECB’s website.
Banking supervision
ECB decision concerning the comprehensive assessment 2016
On 3 May 2016 the Governing Council did not object to a complete draft decision proposed by the Supervisory Board to conduct an investigation concerning four credit institutions that will be subject to the 2016 comprehensive assessment, namely Abanka d.d. (Slovenia), Akciju sabiedrība “Rietumu Banka” (Latvia), Banca Mediolanum S.p.A. (Italy) and Citibank Europe plc (Ireland). A related press release was published on the ECB’s website.
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