Version in force , Modified +30 −3§
Amended by Regulation (EU) 2023/2845 32023R2845 on EUR-Lex (external, EUR-Lex)
Explanation, written by a model and checked against the cited text
Point (b) now refers to currencies in which settlement takes place or will take place, rather than only currencies in which settlement currently takes place.
Point (c) now refers to cash payments of a securities settlement system that are or will be settled in a central bank's books, replacing the earlier reference to the cash leg of such a system being settled there.
Cited: Art. 12, v2 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex, before and after
Previous version, in force 22 June 2022 02014R0909-20220622 → this version, in force 16 January 2024 02014R0909-20240116
Article 12
Relevant authorities
1. The following authorities shall be involved in the authorisation and supervision of CSDs where specifically referred to in this Regulation:
(a) the authority responsible for the oversight of the securities settlement system operated by the CSD in the Member State whose law applies to that securities settlement system;
(b) the central banks in the Union issuing the most relevant currencies in which settlement takes or will take place;
(c) where relevant, the central bank in the Union in whose books the cash leg payments of a securities settlement system operated by the CSD is or will be settled.
2. ESMA shall publish on its website the list of the relevant authorities referred to in paragraph 1.
3. ESMA shall, in close cooperation with the members of the ESCB, develop draft regulatory technical standards specifying the conditions under which the Union currencies referred to in point (b) of paragraph 1 are considered to be the most relevant, and efficient practical arrangements for the consultation of the relevant authorities referred to in points (b) and (c) of that paragraph.
ESMA shall submit those draft regulatory technical standards to the Commission by 18 June 2015.
Power is delegated to the Commission to adopt the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.