21.4.2016   

EN

Official Journal of the European Union

C 140/1

(1)

On 20 December 2012 the General Board of the European Systemic Risk Board (ESRB) adopted Recommendation ESRB/2012/2 (3). The recommendation aims at incentivising sustainable funding structures for credit institutions.

(2)

In order for the aims of Recommendation ESRB/2012/2 to be achieved, national supervisory authorities (hereinafter ‘NSAs’), national macro-prudential authorities and the European Banking Authority (EBA) are requested to take certain actions within the time limits set out in Section 2(3) of Recommendation ESRB/2012/2.

(3)

On 16 September 2014 the General Board decided to extend some time limits by periods of six to 12 months. According to the revised timeline, the EBA should deliver to the ESRB an interim report containing a first assessment of the results of the implementation of Recommendation A(5) of Recommendation ESRB/2012/2 by 31 March 2016 and a final report to the ESRB and the Council of the European Union by 30 June 2016. These reports should be based on the data on funding plans submitted to the EBA by NSAs. However, the EBA has stated that it will not be possible to fully comply with the specified time limits due to delays in the delivery of data.

(4)

The overarching objective of the ESRB is to prevent or mitigate systemic risks in a timely and effective manner. The General Board considers that merging the interim and the final reports on Recommendation A(5) into a single report to be delivered by the EBA and extending the time limit for the delivery of the report to the ESRB and the Council by an additional 12 months would not jeopardise the orderly functioning of the financial markets, nor imply that Recommendation A(5) will be left unimplemented.

(5)

The General Board should therefore extend the relevant time limit in order to provide the EBA with sufficient time to take the steps necessary for the implementation of Recommendation A(5).

(6)

Therefore Recommendation ESRB/2012/2 should be amended accordingly,

1.

Section 2(3)(1) is replaced by the following:

2.

in the Annex, point V.1.3.1 is replaced by the following:

‘V.1.3.1.   Timeline

National supervisory authorities with responsibility for banking supervision, national supervisory authorities and other authorities with a macro-prudential mandate and the EBA are requested to report to the ESRB and the Council on the actions taken in response to this Recommendation, or adequately justify any inaction, according to the following timeline:

21.4.2016   

EN

Official Journal of the European Union

C 140/3

21.4.2016   

EN

Official Journal of the European Union

C 140/4

21.4.2016   

EN

Official Journal of the European Union

C 140/5

a)

The Board shall provide to the Commission an evaluation of the implementation of the Union fiscal framework, in particular regarding the horizontal consistency of the decisions and implementation of budgetary surveillance, cases of particularly serious non-compliance with the rules, and the appropriateness of the actual fiscal stance at euro area and national level. In this evaluation, the Board may also make suggestions for the future evolution of the Union fiscal framework.

b)

The Board shall advise the Commission on the prospective fiscal stance appropriate for the euro area as a whole based on an economic judgment. It may advise the Commission on the appropriate national fiscal stances that are consistent with its advice on the aggregate fiscal stance of the euro area within the rules of the Stability and Growth Pact. Where it identifies risks jeopardising the proper functioning of the Economic and Monetary Union, the Board shall accompany its advice with a specific consideration of the policy options available under the Stability and Growth Pact.

c)

The Board shall cooperate with the national fiscal councils as referred to in Article 6(1)(b) of Council Directive 2011/85/EU (2). The cooperation between the Board and the national fiscal councils shall in particular aim at exchanging best practices and facilitating common understanding on matters related to the Union fiscal framework.

d)

On the request of the President of the Commission, the Board shall provide ad-hoc advice.

—

ensure the successful delivery of the mandate entrusted to the Board while adhering to the highest qualitative and ethical standards;

—

supported by the Secretariat, convene and chair meetings of the Board and ensure adhering to the Board's Rules of Procedure;

—

manage the Board and take overall responsibility for its operations, implementation of annual work programme;

—

represent the Board in contacts with the Commission and other EU, national and international bodies and organisations;

—

present the Board's annual report.

—

ensure the achievement of objectives and tasks for the successful delivery of the mandate entrusted to the Board while adhering to the highest qualitative and ethical standards;

—

contribute to determining the priorities for the Board's strategic planning;

—

contribute to the development and improvement of analytical tools necessary to deliver the Board's mandate.

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Professional experience  (4): have at least 15 years' post-graduate experience acquired after the qualification referred to below was obtained;

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Relevant professional experience: of the 15 years of professional experience, to have acquired at least 10 years' experience in domains relevant to area of macroeconomic policies, especially in the domain of fiscal policy and budgetary management.

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University degree or diploma:

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Languages: have a thorough knowledge of one of the official languages of the European Union and an adequate knowledge of at least another of these languages (5).

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Nationality: be a citizen of a Member State of the European Union.

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A cover letter explaining the motivation for answering this call;

—

A curriculum vitae;

—

A statement listing possible conflicts of interest resulting from membership in the EFB with regard to other occupations held by the candidate.

—

Proven and relevant competence and experience of the applicants demonstrating that they are respected international experts as regards macroeconomics, public finances, fiscal policy and budgetary management;

—

Deep understanding of the EU fiscal framework and its role for the functioning of the EU and EMU;

—

Proven and relevant competence and experience with economic policy making; preferably gained from work in policy-making institutions, policy-advising institutions or academia;

—

Knowledge of the EU institutions and EU decision making processes and the role of the European Commission;

—

Experience in carrying out economic analysis from a horizontal, cross country perspective would be an asset

—

Ability to develop and implement a strategic vision;

—

Outstanding sense of responsibility, resolve, initiative and integrity; and

—

Excellent oral and written communication skills in order to liaise, communicate and cooperate efficiently with internal and external stakeholders. Good knowledge of English will be essential.

—

The Chair of the Board will need to demonstrate management skills and ability to build trusting working relationships. Professional experience of leading an organisation in a high level executive role in the relevant field would be an asset.

21.4.2016   

EN

Official Journal of the European Union

C 140/9

1.

On 14 April 2016, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertakings Canada Pension Plan Investment Board (‘CPPIB’ of Canada), and Global Infrastructure Management, LLC (‘GIP’ of the USA) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of Asciano’s Pacific National Business (‘Pacific National’ of Australia), by way of purchase of shares.

2.

The business activities of the undertakings concerned are:

—   for CPPIB: investing in public and private equities, real estate, infrastructure and fixed income instruments,

—   for GIP: investing in single assets and portfolios of assets and companies in infrastructure and infrastructure-related assets in the transport, energy, water and waste industries,

—   for Pacific National: national intermodal freight haulage and bulk haulage rail freight services in Australia.

3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in this Notice.

4.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301), by email to COMP-MERGER-REGISTRY@ec.europa.eu or by post, under reference number M.8009 — CPPIB/GIP/Pacific National Business of Asciano, to the following address: