in force 2020-01-01 INSERTED+1,129 −0§
Amended by Regulation (EU) 2019/2175 32019R2175
applies from: unknown (an inserted provision states its own application date only in prose)
A new Article 29a is added establishing a process by which the Authority, following discussion in the Board of Supervisors and consideration of input from competent authorities, Union institutions' existing work, and ESRB analyses, warnings and recommendations, identifies up to two priorities of Union-wide relevance at least every three years by 31 March.
The new provision describes competent authorities taking those priorities into account in their work programmes and notifying the Authority, the Authority discussing the following year's activities and drawing conclusions, and the Authority discussing possible follow-up such as guidelines, recommendations, or peer reviews.
It also states that the identified priorities do not prevent competent authorities from applying their own best practices or pursuing additional priorities and developments, and that national specificities are to be considered.
Cited: Art. 29a, v2
text before / after
inserted text (02010R1094-20200101)
Article 29a Union strategic supervisory priorities Following a discussion in the Board of Supervisors and taking into account contributions received from competent authorities, existing work by the Union institutions, and analysis, warnings and recommendations published by the ESRB, the Authority shall, at least every three years, by 31 March, identify up to two priorities of Union-wide relevance which shall reflect future developments and trends. Competent authorities shall take those priorities into account when drawing up their work programmes and shall notify the Authority accordingly. The Authority shall discuss the relevant activities by the competent authorities in the following year and draw conclusions. The Authority shall discuss possible follow up which may include guidelines, recommendations to competent authorities, and peer reviews, in the respective area. The priorities of Union-wide relevance identified by the Authority shall not prevent competent authorities from applying their best practices, acting on their additional priorities and developments, and national specificities shall be considered.