Database on German and European Economic Law

 Regulation (EU) No 513/2011

I. Description

The key elements of the reform proposed by the Commission are:

1. 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 transforming the existing European supervisory committees in a European Banking Authority ( EBA), a European Insurance and Occupational Pensions Authority ( EIOPA), and a European Securities and Markets Authority ( ESMA), thereby combining the advantages of an overarching European framework for financial supervision with the expertise of local micro-prudential supervisory bodies that are closest to the institutions operating in their jurisdictions, and

2. Establishing a European Systemic Risk Board ( ESRB), which shall monitor and assess potential threats to financial stability that arise from macro-economic developments and from developments within the financial system as a whole. To this end, the ESRB would provide an early warning of system-wide risks that may be building up and, where necessary, issue recommendations for action to deal with these risks.

II. General Information

Title

Regulation (EU) No 513/2011 of the European Parliament and of the Council of 11 May 2011 amending Regulation (EC) No 1060/2009 on credit rating agencies

Abbreviations
CRA II
Status
Existing
Regulation
(EU) No 513/2011
Source
O.J. EU No L (Legislation), Edition 145, Year 2011, p.30
Adoption
05/11/2011
Promulgation
05/31/2011
Character
Regular Act
Legal Basis
Art. 114 EC
Legislative Procedure
Codecision procedure
Background

III. Versions and Legislative History

1. Versions

Titel
Allg. Daten
Textfassung

Original Text CRA II:
Regulation (EU) No 513/2011 of the European Parliament and of the Council of 11 May 2011 amending Regulation (EC) No 1060/2009 on credit rating agencies

  (EU) No 513/2011

Beschluss:
05/11/2011 (A)
Verkuendung:
05/31/2011 (P)
(A) Adoption | (P) Promulgation

2. Legislative History

Datum
Typ / Titel
Textfassungen
12/08/2010
Opinion of the European Economic and Social Committee
O.J. EC 2010 No. C 54, p. 37
11/19/2010
Opinion of the European Central Bank
O.J. EC 2010 No. C 337, p. 1
06/02/2010
Proposal
COM/2010/289/FINAL

3. Legal Impact

Auswirkungstyp
Richtlinie
Textfassungen
Amendment
  Regulation (EC) No 1060/2009

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
3. Legal Impact