However , such statutory requirements relating to the full legal integration of NCBs into the ESCB need only enter into force at the moment that full integration of an NCB into the ESCB becomes effective , i.e. in the case of a Member State with a derogation , the date on which it adopts the single currency .

To fulfil the requirements of the Statute , the ECB publishes

Sources of human resources ( statutory )

The ECB exceeds the statutory reporting requirements which are laid down in the Treaty , for instance by publishing a Monthly Bulletin rather than the required quarterly report .

The ECB exceeds the reporting requirements laid down in the Treaty , for instance by publishing a Monthly Bulletin rather than the required quarterly report .

Legal integration of NCBs in the ESCB This applies to any provisions which in Stage Three form an impediment to the execution of ESCB related tasks and , in particular , to provisions which do not respect the ECB s competences under Chapter IV of its Statute .

In accordance with its statutory requirements , the EMI regularly reported on the progress it had made in its preparatory work , most notably in its four Annual Reports covering the years 1994 to 1997 .

the legal integration of the NCB into the ESCB ( including statutory objectives , tasks , instruments , organisation and financial provisions )

A distinction is made in the following between the different areas of which NCB statutes are usually composed statutory objectives , tasks , instruments , organisation and financial provisions , as well as other areas where adaptations of an NCB 's statute may be necessary .

The above are minimum requirements .

Prerequisites

Requirements 2 .

EN R e q u i r e me n t s

EN Requirements

Timeliness 33 .

On the basis of those business requirements , the EPC has identified logical requirements .

Sources of human resources ( statutory ) Posts to be redeployed using existing resources within the managing service ( internal redeployment )

On the basis of these considerations and in view of the exclusive competence of the Community to determine the name of the single currency , any deviations from this rule are incompatible with the Treaty and should be eliminated . While this principle applies to all types of national legislation , the assessment in the country chapters focuses on the NCBs statutes and the euro changeover laws .

SPECIFIC STATISTICAL REQUIREMENTS

Specific statistical requirements

New statistical requirements

Data requirements

General technical requirements

statutory instruments pursuant to the Act on public access to Government documents and the Ombudsman Act .

Below , a distinction is made between those areas of which the statutes of NCBs are usually composed statutory objectives , tasks , instruments , organisation and financial provisions .

However , statutory requirements relating to the full legal integration of an NCB into the ESCB need only enter into force at the moment that full integration becomes effective . In the case of a Member State with a derogation , this means the date on which it adopts the single currency .

Introduction and summary This Report examines the achievement of a high degree of sustainable convergence ( see Chapter I ) as well as compliance with the statutory requirements to be fulfilled for national central banks ( NCBs ) to become an integral part of the European System of Central Banks ( ESCB ) , with particular emphasis on central bank independence ( see Chapter II ) .

According to Article 7 of the EM1 Statute , a special report of the EM1 will analyse the institutional features of the national central banks and will assess the progress towards convergence in the statutory requirements to be fulfilled for national central banks to become an integral part of the ESCB .

Conformity to formal requirements

2 ) business requirements

SECTION 2 OTHER REQUIREMENTS

There is no man datory requirement .

There is no mandatory requirement .

This means that there must be no statutory obstacles to the NCBs transferring foreign reserve assets to the ECB .

Annex 4.1 Statistical reporting requirements PART 1 Description of requirements 1 .

Step 1 Assessment of formal requirements

The ESCB 's counterparties will need to satisfy certain prudential and operational requirements .

( ii ) lay down the accounting and financial reporting requirements to be observed in relation to frontloading and sub

Reporting requirements

These requirements could change in the future .

Section B Operational requirements 1 .

The existing ad hoc disclosure requirements of price sensitive information are to be replaced thereby strengthening disclosure requirements

A distinction is drawn between those areas of which statutes of NCBs are usually composed statutory objectives , tasks , instruments , organisation and financial provisions . 3.3 Instruments The statutes of many , if not all , NCBs contain provisions on monetary policy instruments .

4 OVERSIGHT OF MARKET INFRASTRUCTURES One of the statutory roles of the Eurosystem is to exercise oversight over payment and clearing systems .

4 OVERSIGHT OF MARKET INFRASTRUCTURE One of the statutory roles of the Eurosystem is to exercise oversight over payment and clearing systems .