(1)

In order to enhance efficiency in the functioning of the decision-making bodies, and taking into account the experience gained since the conferral of supervisory tasks on the ECB by Council Regulation (EU) No 1024/2013 (1), the requirement for the President’s signature of the minutes of the proceedings of the Governing Council and the rule on the provision of the proceedings of Supervisory Board meetings to the Governing Council should be adjusted, editorial clarifications made and technological developments reflected in the ECB Rules of Procedure.

(2)

For the same reason, additional flexibility should be introduced to allow the renewal of the five-year term of office of the Vice-Chair of the Supervisory Board while maintaining the current limitation that the term of office of the Vice-Chair of the Supervisory Board should not extend beyond the end of their mandate as member of the Executive Board, also in the context of a renewal.

(3)

Two provisions in the ECB Rules of Procedure are redundant and should be deleted. First, rules on qualified majority voting in the Supervisory Board, which have ceased to apply, should be deleted. Second, procedural rules with regard to the adoption of decisions on the authorisation of credit institutions, mirroring requirements in Regulation (EU) No 1024/2013, should also be deleted.

(4)

Therefore, Decision ECB/2004/2 (2) should be amended accordingly,

(1)

Article 2.5 is replaced by the following:

‘Meetings may also be held by means of videoconferencing, unless at least three Governors object.’;

(2)

Article 3.1 is replaced by the following:

‘Except as provided herein, attendance at meetings of the Governing Council shall be restricted to its members, the President of the Council of the European Union and a member of the European Commission.’;

(3)

Article 5.2 is replaced by the following:

‘The minutes of the proceedings of the Governing Council shall be approved at the subsequent meeting (or if necessary earlier by written procedure) by the members of the Governing Council who had a voting right at the meeting to which the minutes refer and shall be signed by the President or by the Secretary of the Governing Council in order to certify them.’;

(4)

Article 13b.5 is replaced by the following:

‘The term of office of the Vice-Chair of the Supervisory Board shall be five years and may be extended in accordance with the procedure for appointment as set out in paragraph 3. It shall, however, not extend beyond the end of his/her mandate as member of the Executive Board.’;

(5)

Article 13c is amended as follows:

(6)

Article 13f is replaced by the following:

(7)

Article 13i is deleted;

(8)

Article 17.1 is replaced by the following:

‘ECB Regulations shall be adopted by the Governing Council and signed by the President.’;

(9)

Article 17.2 is replaced by the following:

‘ECB Guidelines shall be adopted by the Governing Council, and thereafter notified, in one of the official languages of the Union, and signed by the President. They shall state the reasons on which they are based. Any ECB Guideline that is to be officially published shall be translated into the official languages of the Union.’;

(10)

Article 17.6 is replaced by the following:

‘ECB Instructions shall be adopted by the Executive Board, and thereafter notified, in one of the official languages of the Union, and signed by the President or any two Executive Board members. Any ECB Instruction that is to be officially published shall be translated into the official languages of the Union.’;

(11)

Article 17a.2 is replaced by the following:

‘ECB guidelines related to supervisory tasks pursuant to Article 4(3) and Article 6(5), point (a), of Regulation (EU) No 1024/2013 shall be adopted by the Governing Council, and thereafter notified and signed by the President.’;

(12)

Article 17a.3 is replaced by the following:

‘ECB instructions related to supervisory tasks pursuant to Article 6(3), Article 6(5), point (a), and Articles 7(1), 7(4), 9(1) and 30(5) of Regulation (EU) No 1024/2013 shall be adopted by the Governing Council, and thereafter notified and signed by the President. They shall state the reasons on which they are based.’.