in force 2019-12-30 MODIFIED+578 −30§
Amended by Regulation (EU) 2019/2176 32019R2176
applies from: unchanged
Paragraph 1 now specifies that the hearing before the European Parliament is arranged by the competent committee and describes it as "a hearing" rather than "an annual hearing".
Paragraph 2 adds a requirement that the annual report include an account of the resources made available to the ESRB in accordance with Article 3(1) of Regulation (EU) No 1096/2010, alongside minor added cross-reference wording pointing to "this Article" and "this Regulation".
A new paragraph 6 has been added requiring the ESRB to reply orally or in writing without undue delay to questions from the European Parliament or the Council, and requiring the European Parliament to ensure full confidentiality of confidential information transmitted, in accordance with Article 8 and paragraph 5.
Cited: Art. 19, v1 · Art. 19, v2
text before / after
32010R1092 → 02010R1092-20191230
Article 19
Accountability and reporting obligations
1. At least annually and more frequently in the event of widespread financial distress, the Chair of the ESRB shall be invited to an annual a hearing in the European Parliament, Parliament by the competent committee, marking the publication of the ESRB’s annual report to the European Parliament and the Council. That hearing shall be conducted separately from the monetary dialogue between the European Parliament and the President of the ECB.
2. The annual report referred to in paragraph 1 of this Article shall contain the information that the General Board decides to make public in accordance with Article 18. 18 of this Regulation. The annual report shall be made available to the public. public and shall include an account of the resources made available to the ESRB in accordance with Article 3(1) of Regulation (EU) No 1096/2010.
3. The ESRB shall also examine specific issues at the invitation of the European Parliament, the Council or the Commission.
4. The European Parliament may request the Chair of the ESRB to attend a hearing of the competent Committees of the European Parliament.
5. The Chair of the ESRB shall hold confidential oral discussions at least twice a year and more often if deemed appropriate, behind closed doors with the Chair and Vice-Chairs of the Economic and Monetary Affairs Committee of the European Parliament on the ongoing activity of the ESRB. An agreement shall be concluded between the European Parliament and the ESRB on the detailed modalities of organising those meetings, with a view to ensuring full confidentiality in accordance with Article 8. The ESRB shall provide a copy of that agreement to the Council.6. The ESRB shall reply orally or in writing to questions put to it by the European Parliament or by the Council. It shall reply to those questions without undue delay. When confidential information is transmitted, the European Parliament shall ensure the full confidentiality of that information in accordance with Article 8 and paragraph 5 of this Article.