Database on German and European Economic Law

 Regulation (EU) No 1092/2010

I. Description

The key recommendations of the de Larosière group focus on:

(i) Establishing a European Systemic Risk Board ( ESRB) that would be responsible for macro-prudential oversight of the financial system within the Community in order to prevent or mitigate systemic risks, to avoid episodes of widespread financial distress, contribute to a smooth functioning of the Internal Market and ensure a sustainable contribution of the financial sector to economic growth.

(ii) Establishing a European System of Financial Supervisors ( ESFS), consisting of a network of national financial supervisors working in tandem with new European Supervisory Authorities (ESAs), created by the transformation of existing European supervisory committees in a European Banking Authority ( EBA), a European Securities and Markets Authority ( ESMA), and a European Insurance and Occupational Pensions Authority ( EIOPA). The ESFS should be built on shared and mutually-reinforcing responsibilities, combining nationally-based supervision of firms with specific tasks at the European level. The ESFS would also foster harmonised rules and coherent supervisory practice and enforcement.

II. General Information

Title

Regulation (EU) No 1092/2010 of the European Parliament and of the Council of 24 November 2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board

Status
Existing
Regulation
(EU) No 1092/2010
Source
O.J. EU No L (Legislation), Edition 331, Year 2010, p.1–11
Adoption
11/24/2010
Promulgation
12/15/2010
Character
Regular Act
Legal Basis
Art. 95 EC
Legislative Procedure
Codecision procedure
Background

III. Versions and Legislative History

1. Versions

Titel
Allg. Daten
Textfassung

Original Text :
Regulation (EU) No 1092/2010 of the European Parliament and of the Council of 24 November 2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board

  (EU) No 1092/2010

Beschluss:
11/24/2010 (A)
Verkuendung:
12/15/2010 (P)
(A) Adoption | (P) Promulgation

2. Legislative History

Datum
Typ / Titel
Textfassungen
09/22/2010
Report of the European Parliament - 1st reading
TA/2010/335/P7
01/21/2010
Opinion of the European Economic and Social Committee
EESC/2010/100
10/26/2009
Opinion of the European Central Bank
ABL. EC 2009 No. C 270, p. 1
09/23/2009
Proposal
COM(2009)499

Legend

Legislative Act Status

Documents

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Overview

I. Description
II. General Information
III. Versions and Legislative History
1. Versions
2. Legislative History