12.2.2014   

EN

Official Journal of the European Union

L 41/19

(1)

On 15 October 2013, the Council adopted Regulation (EU) No 1024/2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions.

(2)

The planning and execution of the tasks conferred on the ECB should be fully undertaken by an internal body composed of its Chair and Vice-Chair and four representatives of the ECB and one representative of the national competent authority in each participating Member State (‘Supervisory Board’).

(3)

The Supervisory Board should be an essential body in the exercise of supervisory tasks by the ECB, tasks which until now have always been in the hands of national competent authorities. For this reason, on 16 December 2013 the Council adopted an implementing decision to appoint the Chair of the Supervisory Board (2). On the same grounds, the Council should be given the power to adopt an implementing decision to appoint the Vice-Chair of the Supervisory Board.

(4)

In accordance with Article 26(3) of the above-mentioned Regulation, and after hearing the Supervisory Board, the ECB submitted a proposal for the appointment of the Vice-Chair of the Supervisory Board to the European Parliament for approval on 22 January 2014. The European Parliament approved this proposal on 5 February 2014.

(5)

Subsequently, on 5 February 2014, the ECB submitted to the Council a proposal for the appointment of the Vice-Chair of the Supervisory Board.