Summary
This motion proposes amending the Statute of the ESCB and ECB to explicitly grant the ECB regulatory power over securities clearing systems, ensuring legal competence and financial stability. 10 04.07.2018
Other
economy
finance
european union
administrative law
Key points
- The amendment seeks to grant the ECB explicit regulatory authority over securities clearing systems.
- The change addresses a legal gap identified by the General Court regarding the ECB's competence to regulate clearing activities.
- The new powers are intended to safeguard financial stability and ensure the smooth operation of payment systems.
- The proposal accounts for the systemic risks and regulatory changes brought about by the United Kingdom's withdrawal from the EU.
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