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Contents
Introduction ... 5
Chapter I. Technical standards drafted with the participation of the European Banking Authority – characteristics of the selected general issues ... 8
1. Functions ... 8
2. Definitions ... 9
3. Legal nature ... 10
4. Legal basis ... 12
5. Forms of establishment ... 13
Chapter II. The fundamental legislative procedure of technical standards in the light of regulatory powers of the European Banking Authority ... 15
A. THE FUNDAMENTAL LEGISLATIvE PRoCEDURE ... 15
1. Draft-making initiative ... 15
2. Sending of a draft BTS copy to the European Parliament and to the Council .... 15
3. Endorsing and expressing a decision concerning endorsement of draft BTS ... 17
3.1. Draft endorsement ... 18
3.2. Non-endorsement of a draft ... 20
3.3. Draft amendment ... 21
4. Consequences of a positive decision regarding amendment of draft BTS ... 22
4.1. General remarks ... 22
4.2. Compliance of amendments with the Commission’s proposals ... 22
4.3. Non-compliance of amendments with the Commission’s proposals ... 23
5. Consequences of a negative decision regarding amendment of draft BTS ... 26
B. THE ALTERNATIvE LEGISLATIvE PRoCEDURE ... 28
1. Initiation of the alternative BTS-related legislative procedure ... 28
2. Legal character of the date for submitting draft BTS ... 29
3. Commission’s obligations preceding the BTS-related alternative legislative procedure ... 30
4. EBA’s competences relating to draft BTS sent by the Commission ... 32
4.1. Proposal of amendments to the Commission’s draft ... 32
4.1.1. BTS adoption with all amendments ... 35
4.1.2. BTS adoption with some amendments ... 36
4.2. Refusal to present a proposal of amendments to the Commission’s draft ... 37
Chapter III. Development of draft technical standards by
the European Banking Authority ... 40
1. Essence and contents ... 40
2. Non-performance... 41
3. Defective performance ... 42
3.1. Infringement of Article 8(1) Letter (a) of Regulation No. 1093/2010 ... 42
3.2. Infringement of Article 10(1) the second subparagraph or Article 15(1) the first subparagraph of Regulation No. 1093/2010 ... 43
3.3. Infringement of Article 30(3) of Regulation No. 1093/2010 ... 44
3.4. Infringement of Article 22(3) the second subparagraph of Regulation No. 1093/2010 ... 48
3.5. Substantial defectiveness ... 50
Chapter IV. Consultations and analyses of draft technical standards developed by the European Banking Authority ... 52
1. Essence and contents ... 52
1.1. Consultations ... 52
1.2. Analyses ... 54
2. Legal nature ... 55
3. Consequences of infringing the obligation to consult and analyse draft BTS .... 57
3.1. Non-performance ... 57
3.2. Defective performance ... 59
3.2.1. Defective performance of the obligation to conduct consultations ... 59
3.2.2. Defective performance of the obligation to conduct analyses ... 62
Chapter V. Requesting the opinion of the Banking Stakeholder Group regarding draft technical standards developed by the European Banking Authority ... 64
1. Legal basis of the obligation to request a BSG’s opinion ... 64
1.1. Article 37(1) of Regulation No. 1093/2010 ... 65
1.2. Article 10(1) (Article 15(1)) of Regulation No. 1093/2010 ... 66
1.3. Conclusions ... 69
2. Correlation between BSG’s powers and the Authority’s obligations ... 70
3. Relationship between requesting BSG’s opinion and conducting consultations ... 71
4. Consequences of infringing the obligation to request a BSG’s opinion ... 73
Summary ... 75
Bibliography ... 78
