Introduction and legal basis
On 20 and 24 April 2018 the European Central Bank (ECB) received requests from the European Parliament and the Council of the European Union, respectively, for an opinion on a proposal for a regulation of the European Parliament and of the Council on amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures [COM(2018) 134 final.] (hereinafter the ‘proposed regulation’).
The ECB's competence to deliver an opinion is based on the first indent of Article 127(4) and Article 282(5) of the Treaty on the Functioning of the European Union since the proposed regulation contains provisions falling within the ECB's fields of competence, including the tasks of the European System of Central Banks to contribute to the smooth conduct of policies pursued by the competent authorities relating to the stability of the financial system, as referred to in Article 127(5) of the Treaty and the tasks conferred upon the ECB pursuant to
…