What is Act No. 227 / 2013 Coll.?

Act No. 227 / 2013 Coll., amending Act No. 6 / 1993 Coll., on the Czech National Bank, as amended, and other related laws — Act amending Act No. 6 / 1993 Coll., on the Czech National Bank, as amended, and other related laws.

When it became Act No. 227 / 2013 Coll. effectiveness?

Act No. 227 / 2013 Coll. became effective 17.08.2013.

Is Act No. 227 / 2013 Coll. still valid?

Yes, Act No. 227 / 2013 Coll. is still valid and effective.

How many times was it Act No. 227 / 2013 Coll. amended?

Act No. 227 / 2013 Coll. has 3 time versions of the text.

Act No. 227 / 2013 Coll. - Act amending Act No. 6 / 1993 Coll., on...

227

THE LAW

of 20 June 2013

amending Act No. 6 / 1993 Coll., on the Czech National Bank, as amended, and other related laws

Parliament has decided on this law of the Czech Republic:

ČÁST PRVNÍ

Amendment of the Act on the Czech National Bank

Čl. I

Act No. 6 / 1993 Coll., on the Czech National Bank, as amended by Act No. 60 / 1993 Coll., Act No. 15 / 1998 Coll., Act No. 442 / 2000 Coll., Act No. 377 / 2005 Coll., Act No. 41 / 2011 Coll., Act No. 92 / 2011 Coll., Act No. 136 / 2001 Coll., Act No. 131 / 2002 Coll., Act No. 160 / 2007 Coll., Act No. 36 / 2008 Coll., Act No. 124 / 2008 Coll., Act No. 57 / 2006 Coll., Act No. 62 / 2006 Coll., Act No. 281 / 2009 Coll.

1. Paragraph 1 (2) reads as follows:

"(2) The Czech National Bank is a legal entity governed by public law based in Prague."

2. In Paragraph 1 (3), the word "special 'is replaced by" other'.

3. Paragraph 1 (4) is deleted.

4. The following Section 1a is inserted after Section 1, including footnotes 20 and 21:

„§ 1a

The Czech National Bank is part of the European System of Central Banks under the Treaty on the Functioning of the European Union20) and under the Protocol on the Statute of the European System of Central Banks and of the European Central Bank (hereinafter referred to as the Statute) 21) and contributes to the objectives and tasks of the European System of Central Banks.

20) Article 282 of the Treaty on the Functioning of the European Union (consolidated version).

21) Article 1 of Protocol (No 4) on the Statute of the European System of Central Banks and of the European Central Bank. '

5. In Paragraph 2 (1), the sentence "The Czech National Bank further ensures financial stability and the safe functioning of the financial system in the Czech Republic 'is inserted after the first sentence.

6. In Paragraph 2 (1), at the end of the third sentence, the words "and general economic policy in the European Union with a view to contributing to the achievement of the European Union's objectives' shall be added.

7. In Article 2 (2), the introductory part of the provision reads as follows:

"(2) The Czech National Bank shall carry out the following tasks:"

8. In Article 2 (2) (c), the words "branches of foreign banks' are replaced by the words" foreign banks engaged in banking activities on the territory of the Czech Republic through their branch ("branch of foreign bank ')' and the words" and settlement 'are inserted after the word "payment'.

9. in Paragraph 2 (2) (d), the words "carry out analyses of the development of the financial system, ensure the safe functioning and development of the financial market in the Czech Republic and contribute to the stability of its financial system as a whole" shall be replaced by the words "(§ 44 (1))."

10. in Article 2 (2), the following point (e) is inserted after point (d):

"(e) recognise, monitor and assess risks to the stability of the financial system and, in order to prevent or reduce such risks, contribute through its powers to the resilience of the financial system and maintain financial stability, thereby creating a macroprudential policy; cooperate, where necessary, in the development of a macro-prudential policy with the authorities of the State concerned by that policy; ';

Point (e) shall be renumbered as point (f).

11. in Article 2 (2) (f), the word "special" is replaced by the word "other."

12. in Article 2 (3):

"(3) In carrying out its tasks, the Czech National Bank shall cooperate with and negotiate with the central banks of other States, foreign financial supervisory authorities, international financial institutions and international financial supervisory authorities within its scope."

13. At the end of footnote 19, the words "as amended by Directive 2011 / 61 / EU of the European Parliament and of the Council 'are added.

14. In Paragraph 2a, the current text becomes paragraph 1 and the following paragraph 2 is added:

"(2) The Czech National Bank informs the European Systemic Risk Board of significant risk mitigation measures which could jeopardise the stability of the financial system in the Czech Republic."

15. In Article 3, at the end of the text of paragraph 5, the words "in a way that allows remote access' are added.

16. At the end of § 3a, the sentences "A strategy for macro-prudential policy is also part of this report. This report is also published by the Czech National Bank in a way that allows remote access. '

17. The following Section 3b is inserted after Section 3a:

„§ 3b

(1) In the performance of its tasks, the Czech National Bank may issue recommendations, warnings or warnings to the public, the authorities of the Czech Republic or individual or species designated persons.

(2) Should publication of recommendations, warnings or warnings jeopardise the performance of the tasks of the Czech National Bank, they cannot be provided under the Act governing free access to information. "

18. In Article 5 (1), the second sentence is replaced by the following: "The Bank Board shall determine monetary and macro-prudential policies and instruments for their implementation. It shall decide on key monetary, macro-prudential and financial market surveillance measures. ';

19. in Paragraph 5 (2) (e), the dot after the word "banks" is replaced by a semicolon and the word "these" is replaced by "these."

20. Paragraph 6 (3) reads:

"(3) No one may serve as a member of the Banking Board more than twice. '

21. in Article 6, paragraphs 4 and 13 are deleted;

Paragraphs 5 to 12 shall be renumbered paragraphs 4 to 11.

22. in Paragraph 6 (6) (d), the words "and in the area" shall be replaced by "or in the area."

23. in Article 6, paragraphs 10 and 11, including footnote 22, read:

"(10) A member of the Bank Board may be removed from office only if he no longer fulfils the conditions required for his or her performance or if he / she has committed a serious misconduct (22). The decision to dismiss the Governor shall also be served on the Governing Council of the European Central Bank.

(11) If the post of Governor is not filled, the Bank Board shall entrust one of the Vice-governors to act as Governor until a new Governor is appointed. The authorised Vice-Governor shall act as Governor in full capacity and responsibility.

22) Article 14 (2) of Protocol (No 4) on the Statute of the European System of Central Banks and of the European Central Bank. ';

24.

„§ 8

On behalf of the Czech National Bank, the Governor acts externally, who also signs legislation and acts issued by the Czech National Bank and published in the Collection of Laws. The Governor shall be represented in full by the Vice-Governor appointed by him. ';

25. Paragraph 9 (1), including footnote 23, reads as follows:

"(1) Neither the Czech National Bank, the Banking Board nor any member of the Banking Board may, in the exercise of the powers and duties conferred on them by the Treaty on European Union, the Treaty on the Functioning of the European Union and the Statute and in the conduct of other activities, seek or take instructions from the President of the Republic, Parliament, the Government and other bodies of the Czech Republic, the institutions, bodies, offices or agencies of the European Union, the Governments of the Member States of the European Union or from any other subject23).

23) Article 130 of the Treaty on the Functioning of the European Union (consolidated version). Article 7 of Protocol (No 4) on the Statute of the European System of Central Banks and of the European Central Bank. ';

26. in Paragraph 9 (2), the word "macroprudential" shall be inserted after the word "monetary."

27. in Article 10 (2), the words "macro-prudential policy" shall be inserted after the word "nature."

28. In Paragraph 19 (1), "special 'is replaced by" other'.

29. in Article 23, the word "special" is replaced by "other."

30.

„§ 24

(1) Banks, branches of foreign banks and savings and credit cooperatives are required to have a specified share of their resources in their account with the Czech National Bank as mandatory minimum reserves. Mandatory minimum reserves are maintained in Czech crowns and can be remunerated.

(2) Mandatory minimum reserves may amount to a maximum of 30% of the total liabilities of the person who is required to maintain the compulsory minimum reserves (hereinafter referred to as "the obliged person"), reduced by the obligations of that obliged person towards other obliged persons. If the monetary policy of the Czech National Bank so requires, the minimum reserve requirements may be set differently for the type-designated obliged entities.

§ 25

If the obligor does not maintain the required minimum reserves, the Czech National Bank shall be entitled to charge it for an amount by which the required minimum reserves are not filled, an interest equivalent to twice the average Lombardy rate for the period during which the compulsory minimum reserves were to be maintained.

§ 26

Czech National Bank

(a) the amount of reserve requirements;

(b) the date from which the compulsory minimum reserves must be maintained by the obliged person;

(c) the period during which the reserve requirements are maintained;

(d) the range of commitments from which the mandatory minimum reserves are maintained and the sources of data on those commitments;

(e) the procedure for determining the fixed amount of reserve requirements where the compulsory person does not submit the data from which the reserve requirements are to be determined to the Czech National Bank. "

31. Article 26a is deleted.

32.

„§ 30

The Czech National Bank shall keep accounts in accordance with the budget regular 24).

24) Act No. 218 / 2000 Coll., on budgetary rules and amending certain related laws (budgetary rules), as amended. '

33. Paragraph 31 (2) is deleted and paragraph 1 is deleted.

Section 31a reads:

„§ 31a

The Czech National Bank may, by agreement with the Ministry of Finance according to budget regulation24) negotiate transactions with investment instrument3b) or other transactions or carry out activities which the Ministry of Finance is entitled to carry out through the Czech National Bank in accordance with budget rules 24). This is without prejudice to Article 31. '

footnote 3a is deleted.

35. Paragraph 33, including footnotes 25 and 26, reads as follows:

„§ 33

(1) The Czech National Bank may issue and trade securities.

(2) The Czech National Bank is entitled to keep records of securities representing the right to repayment of the amount due, issued by:

(a) the Czech Republic,

(b) the Czech National Bank,

(c) other issuers.

(3) The Czech National Bank is entitled to keep a record of the central securities account25).

(4) The Czech National Bank is entitled to operate a settlement system with irrevocability of settlement of the law governing business on the capital market26).

25) § 100 et seq. of Act No. 256 / 2004 Coll.

26) § 82 et seq. of Act No. 256 / 2004 Coll. '.

36. in Paragraph 34 (2), the words "special law 4)" shall be replaced by the words "law governing the activities of the bank4."

footnote 4:

"4) Act No. 21 / 1992 Coll., on Banks, as amended."

37. The following Section 34a is inserted after Section 34, including the title and footnotes No 27 to 29:

„§ 34a

Prohibition of monetary financing

(1) The Czech National Bank, in accordance with the Treaty on the Functioning of the European Union27) and implementing the directly applicable European Union28), may not provide the possibility of overdraining the balance of bank accounts or any other type of credit to the institutions, bodies, offices or agencies of the European Union, central governments, regional or local authorities or other public authorities, other public bodies or public undertakings of the Member States of the European Union; direct purchase of their debt instruments by the Czech National Bank is also prohibited.

(2) Paragraph 1 shall not apply to banks, foreign banks and publicly owned savings and credit cooperatives to which the Czech National Bank grants the same treatment in respect of the provision of funds as banks, foreign banks and savings and credit cooperatives in private ownership (29).

27) Article 123 of the Treaty on the Functioning of the European Union (consolidated version).

28) Council Regulation (EC) No 3603 / 93 of 13 December 1993 specifying the definitions for the application of the prohibitions referred to in Articles 104 and 104b of the Treaty.

29) Article 8 of Council Regulation (EC) No 3603 / 93. '

38. in Paragraph 35 (b), the word 'course' is replaced by 'course';

39. in § 35 (c):

"(c) treat foreign exchange reserves in gold and foreign exchange values."

40. in Paragraph 35, point (d) is deleted;

Paragraph 36 reads:

„§ 36

Czech National Bank

(a) trade in gold and foreign exchange values and conduct all types of banking on the financial market;

(b) to make payments with foreign nationals. ';

42. in Paragraph 37 (2), the word "regulation" shall be deleted;

43. The following Section 38a is inserted after Section 38:

„§ 38a

The Czech National Bank is entitled to request from the payment system operator, settlement system operator, payment service provider and electronic money issuer information relating to the operation of these systems and information relating to the provision of payment services and the issuance of electronic money. "

44. footnote 7 reads as follows:

"7) Paragraph 1 (1) (b) and paragraph 3 of Act No. 21 / 1992 Coll., on Banks, as amended."

45.

„§ 40

The Czech National Bank shall be entitled to conduct investment and business activities to the extent necessary to ensure its activities. ';

46. After Paragraph 40, the following part nine is inserted, including the title and footnotes No 30 to 36:

„ČÁST DEVÁTÁ

REPORTING AND STATISTICS

HLAVA I

REPORTING

§ 41

(1) The Czech National Bank is entitled to require, under this Act or other legislation, the necessary information and supporting documents in the form of statistical reports and reports for supervisory, supplementary information or reporting purposes (hereinafter referred to as "the report") from the reporting agents

(a) persons under its supervision and foreign persons engaged in a similar business in the Czech Republic under a single licence;

(b) other persons operating in the territory of the Czech Republic belonging to the financial institutions sector under the directly applicable European Union law governing the system of national and regional accounts in the European Union30),

(c) persons who have the information necessary for compiling balance of payments, investment position and foreign debt services, who are informed by the Czech National Bank of their inclusion in the statistical reporting population; to this end, the Czech National Bank shall be entitled to require the necessary information and documentation to assess the statistical significance.

(2) The Czech National Bank shall be entitled to use the statements referred to in paragraph 1 to safeguard all its tasks, unless otherwise provided for by other legislation.

(3) The reporting agents are required to draw up and submit to the Czech National Bank reports whose content, form, time and manner of compilation and presentation for each of the reporting entities are determined by the Order.

(4) If the reports submitted do not comply with the requirements laid down in paragraph 3, or if reasonable doubts arise as to their accuracy or completeness, the Czech National Bank shall be entitled to require a correction, specification or explanation.

HLAVA II

STATISTICS

§ 42

(1) The Czech National Bank for the purpose of carrying out tasks set out directly applicable European Union31)

(a) provide statistical reporting including the collection and collection of data for statistical purposes;

(b) process and generate statistical information and compile, maintain and publish statistics;

(c) contribute to the production of statistics by the European System of Central Banks and the European Central Bank32 and contribute to the compilation of statistics by the European Union33).

(2) In order to ensure the tasks referred to in paragraph 1, the Czech National Bank shall transmit statistical information and individual data in the required structure and detailed breakdown to the European Central Bank and Eurostat within the specified deadlines.

(3) In order to ensure the tasks referred to in paragraph 1, the Czech National Bank shall ensure the methodology of statistical surveys, their processing and use and the content of the data required, including a description of their structures.

(4) In order to ensure the tasks referred to in paragraph 1, the Czech National Bank shall be entitled to require and use for statistical purposes the data and information necessary for compiling statistics of the European System of Central Banks, the European Central Bank or the European Union, which are obtained or collected by ministries and other administrative authorities under other legislation, provided that such data and information are processed by the Ministry and other administrative authorities and are available in their information systems. Ministries and other administrative offices are required to provide the Czech National Bank with the necessary information on request free of charge.

§ 43

In order to limit the burden on reporting agents under § 41, the Czech National Bank shall, following directly applicable European Union rules and in accordance with the general principles of the European Central Bank, apply the statistical significance aspect and may, to that end, provide for a decree:

(a) the scope of reporting to a particular reporting heading or to a particular type of data to be included in the statement;

(b) a range of statistically significant reporting agents.

§ 43a

(1) The Czech National Bank shall compile, maintain and publish monetary statistics, balance of payments statistics, quarterly financial accounts statistics, financial market statistics, securities statistics and other statistics in its field of competence.

(2) The Czech National Bank keeps a list of MFIs (34) in the Czech Republic and other similar lists for statistical purposes, which it publishes in a way that allows remote access.

§ 43b

The Czech National Bank cooperates with the Czech Statistical Office, with which it transfers individual data and statistical information necessary for statistical purposes in order to perform its tasks.

§ 43c

(1) The exercise of the right to verification and forced collection of individual statistical data by the Czech National Bank is governed by the directly applicable European Union35).

(2) When verifying the statistical data or their forced collection by means of an on-the-spot check, the law governing the exercise of control shall apply to the relations between the Czech National Bank and the reporting person.

§ 43d

In accordance with the commitments made by the Czech Republic and resulting from its membership of international organisations, the Czech National Bank provides statistical information to the International Monetary Fund, the Organisation for Economic Cooperation and Development, the World Bank and other international institutions.

§ 43e

The Czech National Bank has consistently ensured the protection of confidential statistical data (36) obtained under this Act so that they cannot be illegally altered, destroyed, lost, transferred or otherwise used and that these data serve only statistical purposes. This protection shall also be subject to aggregated data for several reporting agents from which, without undue time and effort, the individual reporting person may be directly identified or identified or indirectly derived.

§ 43f

(1) The Czech National Bank may provide confidential statistics only

(a) another member of the European System of Central Banks to the extent and at the level of detail necessary for the performance of the tasks of the European System of Central Banks;

(b) to the European Central Bank in order to fulfil its statistical reporting requirements for the purposes of producing statistics from the European System of Central Banks;

(c) Eurostat for the purpose of producing European Union statistics,

(d) another member of the European System of Central Banks or of the European Statistical System, where necessary for the development, production or dissemination of statistics or for the improvement of its quality;

e) Czech Statistical Office pursuant to § 43b,

(f) for the purposes of scientific research under a contract which provides for the fulfilment of the conditions of protection of such data and the precise use of such data in accordance with European Union law, to legal persons whose principal mission is scientific research; data shall be provided in a form that does not allow the direct identification of the reporting person concerned by the data provided; or

(g) if the person concerned has given his consent and the cases referred to in points (a) to (f) are not concerned; the consent of that person must show which confidential statistical information is involved and for which purpose and to whom it is to be provided.

(2) The Czech National Bank may publish statistical information if it is generated by aggregation of individual data for at least 3 reporting agents. If this condition is not met, the Czech National Bank may provide statistical information only as confidential statistical data pursuant to paragraph 1. The Czech National Bank is the same if it can indirectly identify the individual reporting person from statistical information.

(3) The provision of confidential statistical information under the conditions set out in paragraphs 1 and 2 is not a breach of confidentiality under this law.

Citation	Act No. 227 / 2013 Coll., amending Act No. 6 / 1993 Coll., on the Czech National Bank, as amended, and other related laws
Regulation Type	Law
Author	-
Collection	Code of Laws

Date of Promulgation	02.08.2013
Effective from	17.08.2013
Effective until	-
Status	Valid

Act No. 227 / 2013 Coll.

Act amending Act No. 6 / 1993 Coll., on the Czech National Bank, as amended, and other related laws

Contents