(5)The ECB is required to assess a substantial number of intended macroprudential measures submitted by NCAs or NDAs, including those that set O-SII and G-SII buffers. Those assessments often need to be conducted within a very tight timeframe. In order to facilitate the decision-making process, it is appropriate to provide for the delegation of the power to adopt certain decisions within the ECB. In particular, the power to adopt decisions not to object to macroprudential measures submitted by NCAs or NDAs should be delegated to heads of work units of the ECB. Global systemically important banks or institutions (G-SIBs-G-SIIs) are banks or institutions that are perceived as not being allowed to fail due to their size, interconnectedness, complexity, lack of substitutability or global scope. Given the potential cross-jurisdictional repercussions of a problem in any of the G-SIBs-G-SIIs on other financial institutions in many countries and on the global economy at large, this is not uniquely a problem for NCAs or NDAs, and therefore requires harmonisation at the global level which is reflected in a global agreement reached by the members of the Basel Committee on Banking Supervision and the Financial Stability Board the outcome of which is published by the Financial Stability Board. The global community is addressing these issues through a multipronged approach.