in force 2020-01-01 MODIFIED+1,600 −385§
Amended by Regulation (EU) 2019/2175 32019R2175
applies from: unchanged
The composition of the 30-member Banking Stakeholder Group is restructured into three defined categories: 13 members representing financial institutions (including three from cooperative and savings banks), 13 members representing employees, consumers, users of banking services and SME representatives, and four independent top-ranking academics, replacing the earlier description based on balanced proportions and separate minimum figures.
The appointment process now refers to an open and transparent selection procedure rather than proposals from relevant stakeholders, adds consideration of diversity of the banking sector and selection according to qualifications, skills, knowledge and expertise, and a new provision on electing a Chair for a two-year term and appearing before the European Parliament is introduced.
The member term is extended from two-and-a-half years to four years, compensation wording now accounts for preparatory and follow-up work, and the Group's output is described as advice rather than opinions and advice, with new text on separate advice by dissenting members, joint advice with other stakeholder groups, and publication extended to cover how advice and consultation results have been taken into account.
Cited: Art. 37, v1 · Art. 37, v2
text before / after
02010R1093-20190330 → 02010R1093-20200101
Article 37
Banking Stakeholder Group
1. To help facilitate consultation with stakeholders in areas relevant to the tasks of the Authority, a Banking Stakeholder Group shall be established. The Banking Stakeholder Group shall be consulted on actions taken in accordance with Articles 10 to 15 concerning regulatory technical standards and implementing technical standards and, to the extent that these do not concern individual financial institutions, Article 16 concerning guidelines and recommendations. If actions must be taken urgently and consultation becomes impossible, the Banking Stakeholder Group shall be informed as soon as possible.
The Banking Stakeholder Group shall meet on its own initiative as necessary, and in any event at least four times a year.
2. The Banking Stakeholder Group shall be composed of 30 members, representing members. Those members shall comprise of:
(a) 13 members representing, in balanced proportions credit proportions, financial institutions operating in the Union of whom three shall represent cooperative and investment savings banks;
(b) 13 members representing employees’ representatives of financial institutions operating in the Union, their employees’ representatives as well as consumers, users of banking services and representatives of SMEs. At least five of its SMEs; and
(c) four members shall be who are independent top-ranking academics. Ten of its members shall represent financial institutions, three of whom shall represent cooperative and savings banks.
3. The members of the Banking Stakeholder Group shall be appointed by the Board of Supervisors, Supervisors following proposals from the relevant stakeholders. an open and transparent selection procedure. In making its decision, the Board of Supervisors shall, to the extent possible, ensure an appropriate reflection of diversity of the banking sector, geographical and gender balance and representation of stakeholders across the Union.
Members of the Banking Stakeholder Group shall be selected according to their qualifications, skills, relevant knowledge and proven expertise.
3a. Members of the Banking Stakeholder Group shall elect a Chair from among its members. The position of Chair shall be held for a period of two years.
The European Parliament may invite the Chair of the Banking Stakeholder Group to make a statement before it and answer any questions from its members whenever so requested.
4. The Authority shall provide all necessary information subject to professional secrecy as set out in Article 70 of this Regulation and ensure adequate secretarial support for the Banking Stakeholder Group. Adequate compensation shall be provided to members of the Banking Stakeholder Group representing non-profit organisations, excluding industry representatives. Such This compensation shall take into account the members’ preparatory and follow-up work and shall be at least equivalent to the reimbursement rates of officials pursuant to Title V, Chapter 1, Section 2 of the Staff Regulations of Officials of the European Union and the Conditions of Employment of Other Servants of the European Union Union, laid down in Council Regulation (EEC, Euratom, ECSC) No 259/68OJ L 56, 4.3.1968, p. 1. (Staff (the Staff Regulations). The Banking Stakeholder Group may establish working groups on technical issues. Members of the Banking Stakeholder Group shall serve for a period of two-and-a-half four years, following which a new selection procedure shall take place.
The members of the Banking Stakeholder Group may serve two successive terms.
5. The Banking Stakeholder Group may submit opinions and advice to the Authority on any issue related to the tasks of the Authority with particular focus on the tasks set out in Articles 10 to 16 and Articles 16, 29, 30 and 32.
Where members of the Banking Stakeholder Group cannot agree on advice, one third of its members or the members representing one group of stakeholders shall be permitted to issue separate advice.
The Banking Stakeholder Group, the Securities and Markets Stakeholder Group, the Insurance and Reinsurance Stakeholder Group, and the Occupational Pensions Stakeholder Group may issue a joint advice on issues related to the work of the ESAs under Article 56 on joint positions and common acts.
6. The Banking Stakeholder Group shall adopt its rules of procedure by a majority of two-thirds of its members.
7. The Authority shall make public the opinions and advice of the Banking Stakeholder Group Group, the separate advice of its members, and the results of its consultations. consultations as well as information on how advice and results of consultations have been taken into account.