34 / 38
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Section C
addressed to the national competent authorities in respect of credit in-
stitutions established in such Member States. The same applies where
the concerned national competent authorities inform the Governing
Council of their reasoned disagreement with such a draft decision of
the Supervisory Board.
474
(iv)
Finally, in principle, the general provisions pertaining to Governing
Council meetings laid down in
Chapter I (Articles 2-5a)
of the ECB
Rules of Procedure apply also to Governing Council meetings as far as
ECB’s supervisory tasks are concerned.
5.2.2 The provisions of ECB Decision 2014/723/EU on the
implementation of separation between the monetary
and supervision functions
5.2.2.1 Organisational separation
The organisational separation
of monetary policy and supervisory functions
is
based on four (4) rules laid down in
Article 3 of the ECB Decision 2014/723/EU
:
(a)
The ECB must maintain autonomous decision-making procedures for its
monetary policy and supervisory functions.
(b)
All work units of the ECB must be placed under the managing direction
of the Executive Board; the Board's competence in respect of the ECB’s inter-
nal structure and the ECB staff must encompass the supervisory tasks.
(c)
ECB staff involved in carrying out supervisory tasks must be organisa-
tionally separated from the staff involved in carrying out other tasks conferred
on the ECB. This staff must report to the Executive Board in respect of organi-
sational, human resources and administrative issues, but must be subject to
functional reporting to the Chair and the Vice Chair of the Supervisory Board.
(d)
Exceptionally, the ECB may establish shared services providing support
to both the monetary policy and the supervisory function in order to ensure
that the exercise of these support functions is not duplicated. Such services
must not be subject to
Article 6
475
as regards any information exchanges by
them with the relevant policy functions.
474. On this aspect, see also below in
Section D, under 3.3.3
and in
Section F, under
2.1.5.2 (b)
.
475. See below,
under 5.2.2.4.