Kompetencja prawotwórcza Europejskiego Banku Centralnego

Abstract

The fundamental tasks to be carried out through the European System of Central Banks include defining and implementation of the EU monetary policy in the countries of the Eurosystem. This article concerns legal powers of the European Central Bank after the Treaty of Lisbon came into force. There are no changes specifically regarding legal powers of ECB after the Treaty of Lisbon. Concerning the European monetary integration, changes after the Treaty relate to the monetary policy in the Eurosystem. Also, notably, the regulation of ECB legal draft powers under the Treaty on the Functioning of the European Union (like in the Treaty establishing the European Community) is separate from the legal draft regulation of other EU institutions. The primary objective of the Eurosystem is to maintain price stability. This objective is achieved with legal acts of the ECB: regulation, decision, opinion, recommendation, guideline and instruction, analysed in this publication. The point to inquire into the legal powers of the ECB was to reveal which form of the legal act of the ECB can be used by the regulation of different matters of European monetary integration. Especially, the areas of guideline and instruction by the ECB was very important. To consider the legal powers of the ECB is significant for a number of reasons. Legal acts ensure integrated and homogeneous monetary policy within the European Union and will make up a very important part of the Polish banking law system after Poland becomes a member of the Eurosystem. The article also discussed the new tasks of the ECB within the new European financial supervision to be established on the European level.