Procedura nakładania sankcji przez Europejski Bank Centralny na instytucje kredytowe państw członkowskich Unii Europejskiej za nieprzestrzeganie obowiązkuutrzymywania rezerw obowiązkowych. Wybrane zagadnienia

Abstract

A Council Regulation has established limits and conditions under which the European Central Bank (ECB) is en titled to impose fines or periodic penalty payments on undertakings for failure to comply with obligations resulting from its decisions and regulations. Another important thing is that the ECB, while carrying out the procedure to determine the applicable sanction, must ensure as broadas possible respect of the rights of defense of third parties, in accordance with general principles of law and the case law of the Court of Justice of the European Communities on the matter, in particular existing case law concerning the inquiry powers of the European Commission in the field of competition. The article discusses the procedure in the event of non-compliance with minimum reserve requirements and the principles applying in the event of non-compliance with minimum reserve requirement. For example, before any sanction is imposed, the Executive Board of the ECB or a competent national central bank on its be half notifies the undertaking concerned of the alleged non-compliance and of the corresponding sanction. The notification contains all the relevant facts of the al leged non-compliance and in forms the addres see that, unless it submits objections, the sanction shall be deemed imposed by decision of the Executive Board of the ECB. This article also considers competences of the ECB to impose sanctions in the event of non-complian ce with minimum reserve requirements. The analysis underlines and explains the principles and rules of that procedure that were construed on the basis of the entirere gulation of EU banking law. The  of principles and rules in that procedure is also taken into account. It is crucial to recognize problems concerning that procedure regarding Poland’s future access to the European Monetary Union. Finally, the question of legitimization of compe ten ces to impo se sanctions applied under that procedure described and analysed, as well.