Decision of the European Systemic Risk Board of 16 September 2014 on the extension of certain deadlines set by Recommendation ESRB/2012/2 on funding of credit institutions (ESRB/2014/4)

Recommendation ESRB/2012/2 is amended as follows: 1. section 2(3)(1) is replaced by the following: ‘1. Recommendation A – 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 according to the following timeline: (a) by 31 December 2015, national supervisory authorities with responsibility for banking supervision are requested to deliver to the ESRB an interim report containing a first assessment of the results of the implementation of Recommendation A(1) and (2); (b) by 31 July 2016, national supervisory authorities with responsibility for banking supervision are requested to deliver a final report on Recommendation A(1) and (2) to the ESRB and to the Council; (c) by 31 December 2015, national supervisory authorities and other authorities with a macro-prudential mandate are requested to deliver to the ESRB an interim report containing a first assessment of the results of the implementation of Recommendation A(3); (d) by 30 September 2016 national supervisory authorities and other authorities with a macro-prudential mandate are requested to deliver a final report on the implementation of Recommendation A(3) to the ESRB and to the Council; (e) by 30 June 2014, the EBA is requested to deliver the guidelines referred to in Recommendation A(4) to the ESRB and to the Council; (f) by 31 March 2016, the EBA is requested to deliver to the ESRB an interim report containing a first assessment of the results of the implementation of Recommendation A(5); (g) by 30 June 2016, the EBA is requested to deliver a final report on the implementation of Recommendation A(5) to the ESRB and to the Council.’; 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: a. by 31 December 2015, national supervisory authorities with responsibility for banking supervision are requested to deliver to the ESRB an interim report containing a first assessment of the result of the implementation of Recommendations A(1) and (2); b. by 31 July 2016, national supervisory authorities with responsibility for banking supervision are requested to deliver a final report on Recommendations A(1) and (2) to the ESRB and to the Council; c. by 31 December 2015, national supervisory authorities and other authorities with a macro-prudential mandate are requested to deliver to the ESRB an interim report containing a first assessment of the result of the implementation of Recommendation A(3); d. by 30 September 2016, national supervisory authorities and other authorities with a macro-prudential mandate are requested to deliver a final report on the implementation of Recommendation A(3) to the ESRB and to the Council; e. by 30 June 2014, the EBA is requested to deliver the guidelines referred to in Recommendation A(4) to the ESRB and to the Council; f. by 31 March 2016, the EBA is requested to deliver to the ESRB an interim report containing a first assessment of the result of the implementation of Recommendation A(5); g. by 30 June 2016, the EBA is requested to deliver a final report on the implementation of Recommendation A(5) to the ESRB and to the Council.’.

This Decision shall be published on the ESRB’s website on the date of its entry into force.

This Decision shall enter into force on the date of its approval.