(3)On 24 June 2020, the Governing Council decided to establish close cooperation between the ECB and the Republic of Bulgaria 4 , and between the ECB and the Republic of Croatia 5 . Article 7(1) of Regulation (EU) No 1024/2013 provides that to carry out certain tasks in relation to credit institutions established in a Member State whose currency is not the euro, where close cooperation has been established in accordance with that Article, the ECB may address instructions to the national competent authority of the relevant Member State. It is therefore appropriate to include such instructions among the acts that the ECB may adopt by means of delegation to heads of work units pursuant to the relevant provisions of Decision (EU) 2019/322 (ECB/2019/4).
Recital 3
- 5 Decision (EU) 2020/1016 of the European Central Bank of 24 June 2020 on the establishment of close cooperation between the European Central Bank and Hrvatska Narodna Banka (ECB/2020/31) ( OJ L 224I, 13.7.2020, p. 4 ). ↩
- 4 Decision (EU) 2020/1015 of the European Central Bank of 24 June 2020 on the establishment of close cooperation between the European Central Bank and Българска народна банка (Bulgarian National Bank) (ECB/2020/30) ( OJ L 224I, 13.7.2020, p. 1 ). ↩