Legal integration of NCBs in the ESCB This applies to any provisions which in Stage Three form an impediment to the execution of ESCB related tasks and , in particular , to provisions which do not respect the ECB s competences under Chapter IV of its Statute .

A distinction is made in the following between the different areas of which NCB statutes are usually composed statutory objectives , tasks , instruments , organisation and financial provisions , as well as other areas where adaptations of an NCB 's statute may be necessary .

the legal integration of the NCB into the ESCB ( including statutory objectives , tasks , instruments , organisation and financial provisions )

Below , a distinction is made between those areas of which the statutes of NCBs are usually composed statutory objectives , tasks , instruments , organisation and financial provisions .

Again , national provisions on such instruments are to be compared with those contained in the Treaty and Statute and incompatibilities need to be removed in order to comply with Article 108 of the Treaty . 3.4 Organisation 3.1 Statutory objectives The integration of NCBs in the ESCB requires that their ( primary and secondary ) statutory objectives are compatible with the ESCB s objectives as laid down in Article 2 of the Statute .

Nevertheless , statutory requirements relating to the full legal integration of an NCB into the Eurosystem need only enter into force at the moment that full integration becomes effective , i.e. the date on which the Member State with a derogation adopts the euro . The full integration of an NCB into the Eurosystem requires that its statutory objectives be compatible with the ESCB 's objectives , as laid down in Article 2 of the Statute .

Sources of human resources ( statutory )

A distinction is drawn between those areas of which statutes of NCBs are usually composed statutory objectives , tasks , instruments , organisation and financial provisions . 3.3 Instruments The statutes of many , if not all , NCBs contain provisions on monetary policy instruments .

Areas to which particular attention was paid were statutory objectives , tasks , instruments , organisation and financial provisions ( topics which correspond to the usual structure of the statutes of NCBs ) .

However , such statutory requirements relating to the full legal integration of NCBs into the ESCB need only enter into force at the moment that full integration of an NCB into the ESCB becomes effective , i.e. in the case of a Member State with a derogation , the date on which it adopts the single currency .

prerogatives of the ECB . Thus the EMI 's assessment of the compatibility of the statutes of NCBs with the Treaty and the Statute focuses on the following areas statutory objectives , tasks , instruments , organisation , financial provisions and miscellaneous issues .

It is envisaged in Article 2 .

To fulfil the requirements of the Statute , the ECB publishes

This means , inter alia , that statutory objectives with a national flavour , for example referring to an obligation to conduct monetary policy within the framework of the general economic policy of the Member State concerned , need to be adapted .

2.2.1 Statutory objective Article 3 ( old ) , which contained the Bank s statutory objective , neither reflected the primacy of the ESCB s statutory objective nor anticipated the Bank s integration in the ESCB in Stage Three .

Objectives

OBJECTIVES AND TASKS OF THE ESCB Article 2 Objectives

Project objective

1 OBJECTIVES

Sources of human resources ( statutory ) Posts to be redeployed using existing resources within the managing service ( internal redeployment )

The Union's objectives

Objectives of the Eurosystem

OBJECTIVES OF THE EUROSYSTEM

CHARACTERISTICS AND OBJECTIVES

Objectives of the ESCB

AIMS

statutory instruments pursuant to the Act on public access to Government documents and the Ombudsman Act .

THE SEPA GENERAL OBJECTIVES AND WORKING METHODS THE GENERAL OBJECTIVES OF THE SEPA

Consistency with the other policies and objectives of the Union The objectives of the proposal are consistent with the policies and objectives pursued by the Union .

advance its objectives,

Objectives of the current initiative

ECONOMIC POLICY OBJECTIVES 6 LEGAL INTEGRATION OF NCBs INTO THE EUROSYSTEM Provisions in national legislation ( in particular the NCB statutes , but also other legislation ) which would prevent the performance of Eurosystem related tasks or compliance with ECB decisions are incompatible with the effective operation of the Eurosystem once the Member State concerned has adopted the euro .

This means that there must be no statutory obstacles to the NCBs transferring foreign reserve assets to the ECB .

DEFINITION AND OBJECTIVES OF THE UNION

The ECB supports these targets .

Grounds for and objectives of the proposal

2.4 The architecture of the international financial system Given that financial market stability is essential to its statutory objectives , the Eurosystem and , more generally , the ESCB take a keen interest in the ongoing debate on the risks to global financial stability that may arise from disruptive developments in international financial markets .

4 OVERSIGHT OF MARKET INFRASTRUCTURES One of the statutory roles of the Eurosystem is to exercise oversight over payment and clearing systems .

4 OVERSIGHT OF MARKET INFRASTRUCTURE One of the statutory roles of the Eurosystem is to exercise oversight over payment and clearing systems .

Association shall have the following objectives

OBJECTIVES AND DEADLINES FOURTH PROGRESS REPORT

The Union shall pursue these objenives In international organizations and at international conferences where not all the Member S u u s participate , those which do take pan shall uphold the common positions .

out in the Treaty .

Do you consider that these objectives are sufficient ?

CONTEXT OF THE PROPOSAL Objectives of the proposal