Page 18 - EBA 2015.1815 Annual report 2014 web 2

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E U R O P E A N B A N K I N G A U T H O R I T Y
16
BOARD OF SUPERVISORS (BoS)
The Board of Supervisors (BoS) is the ultimate decision-making body
of the European Banking Authority.
Roles:
the BoS takes all policy decisions of the EBA, including the adoption
of draft technical standards, guidelines, opinions and reports. It also takes
the final decision on the EBA's budget.
Composition:
the EBA's Chairperson and heads of the national banking
supervisors from the 28 member states of the European Union. The BoS
Members act independently and in the Union's interest.
Decision making mechanism:
depending on the type, decisions are taken
through voting by simple majority/double simple majority/ qualified majority
including double simple majority* (the EBA Chairman does not get to vote).
MANAGEMENT BOARD MB
The Management Board (MB) takes decisions on operational matters
of the EBA and is responsible for implementing its Work Programme.
Roles:
to ensure that the EBA carries out its mission and performs the
tasks assigned to it in accordance with its Regulation.
Composition:
the EBA's Chairperson and six members who are elected
from the BoS. The Executive Director and a representative of the European
Commission participate in the meetings of the MB.
Decision making mechanism:
The Management Board decides by simple
majority. It has the competence, amongst others, to propose the annual and
multi-annual work programme as well as the annual report, to exercise
certain budgetary powers, to adopt the Authority's staff policy plan, to
adopt special provisions on the right to access to documents.
RESOLUTION COMMITTEE ResCo)
The Resolution Committee (ResCo) has delegated
powers to make decisions on resolution matters.
Roles:
empowered to make decisions on specific matters
related to resolution of financial institutions that have
been delegated to them by the BoS. It deals with tasks
related to the role of EU resolution authorities, as
prescribed in the BRRD.
Composition:
a Chairperson, 28 heads of national
resolution authorities who are Members with a voting
rights and observers who do not have voting rights.
Decision making mechanism:
the proposals shall be
subject to the vote of the ResCo, according to the same
rules of procedures that apply to the BoS. The decisions
voted by the ResCo will be submitted to the BoS in
accordance with the non-objection procedure. In other
cases (where ResCo does not have exclusive mandate) the
ResCo will act as other Standing Committees and provide
its opinion to the BoS, which will make its final decision.
BoS
ResCo
MB
Some powers
delegated
* Specific voting modalities are provided for
in Article 44 of the EBA founding regulation.
Finally, the EBA promotes a transparent, sim-
ple and fair internal market for consumers of
financial products and services and helps en-
sure that all consumers in the banking sector
are treated fairly and in the same way.
The continued sovereign debt crisis affecting
the Eurozone in the past four to five years and
following the global financial crisis, has re-
newed the need for deeper financial integra-
tion in the Eurozone. The agreement by the
EU institutions to centralise powers for the
supervision of banks, the restructuring and
resolution of distressed banks, and common
funding arrangements, known as the Banking
Union project, is a key policy response to this
call. The first two pillars of Banking Union, the
SSM and the SRM are now in place.
The EBA’s role in the evolving supervisory and
resolution architecture remains unchanged,
although the new institutional architecture
The EBA’s governance structure