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Recital 8

Recital 8

(8)Since the CSDB is operated jointly by all ESCB members, they should all aim to follow the same DQM standards. Moreover, non-euro area NCBs are in the best position to carry out DQM on the data related to issuers residing in their respective Member States. While it is recognised that guidelines adopted by the ECB may not impose any obligations on non-euro area NCBs, Article 5 of the Statute of the European System of Central Banks and of the European Central Bank applies to both euro area and non-euro area NCBs. Non-euro area NCBs should therefore design and implement all the measures that they consider appropriate in order to carry out DQM in accordance with this Guideline.

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