December 02
2021
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Trajan Shipley
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15th October 2021
Banking & Finance

ECB’s powers to impose sanctions: new Regulation and Decision published

Official publication has been made of Regulation 2021/1814 and Decision 2021/1815, concerning, respectively, the amendment of the ECB’s powers to impose sanctions as regards the methodology to calculate sanctions imposed for non-compliance with minimum reserve requirements.

The reason for the amendment is that the methodology was up until now outlined ​​in the ECB Notice on the imposition of sanctions for breaches of the obligation to hold minimum reserves. 

As explained in the recitals of the new regulation, the notice’s relevant content has been transferred to Decision 2021/1815 in the interest of legal certainty and in order to prevent further fragmentation of the legal framework regarding the imposition of sanctions in

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