{
  "url": "https://openlegislation.uk/eu-decision-2017-35/introduction",
  "json_url": "https://openlegislation.uk/eu-decision-2017-35/introduction.json",
  "legislation": "eudn/2017/35",
  "legislation_title": "Decision (EU) 2017/2097 of the European Central Bank of 3 November 2017 on the methodology for calculating sanctions for infringements of the oversight requirements for systemically important payment systems (ECB/2017/35)",
  "legislation_url": "https://openlegislation.uk/eu-decision-2017-35",
  "path": "introduction",
  "kind": "introduction",
  "number": null,
  "heading": "Introductory text",
  "text": "Decision (EU) 2017/2097 of the European Central Bank\nof 3 November 2017\non the methodology for calculating sanctions for infringements of the oversight requirements for systemically important payment systems (ECB/2017/35)\nTHE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,\nHaving regard to the Treaty on the Functioning of the European Union, and in particular the fourth indent of Article 127(2) thereof,\nHaving regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular the fourth indent of Article 3.1, and Article 34 thereof,\nHaving regard to Council Regulation (EC) No 2532/98 of 23 November 1998 concerning the powers of the European Central Bank to impose sanctions, and in particular Article 2 thereof,\nHaving regard to Regulation (EC) No 2157/1999 of the European Central Bank of 23 September 1999 on the powers of the European Central Bank to impose sanctions (ECB/1999/4),\nHaving regard to Regulation (EU) No 795/2014 of the European Central Bank of 3 July 2014 on oversight requirements for systemically important payment systems (ECB/2014/28), and in particular Article 23 thereof,\nWhereas:\n(1)\nThe Eurosystem promotes the smooth operation of payment systems by, among other things, conducting oversight. In particular, oversight of systemically important payments systems (SIPS) is conducted pursuant to the requirements of Regulation (EU) No 795/2014 (ECB/2014/28).\n(2)\nArticle 23 of Regulation (EU) No 795/2014 (ECB/2014/28) empowers the European Central Bank (ECB) to impose sanctions for infringements of that Regulation. For the purposes of enhancing the transparency of the principles and procedures that the ECB will follow when imposing such sanctions, that Article requires the ECB to adopt a decision on the methodology for the calculation of the amount of the sanctions.\n(3)\nBy adopting this Decision, the ECB demonstrates the manner in which it is guided by the principle of proportionality when determining an appropriate sanction,\nHAS ADOPTED THIS DECISION:",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "OJ L 318, 27.11.1998, p. 4."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "OJ L 264, 12.10.1999, p. 21."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "OJ L 217, 23.7.2014, p. 16."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2017/35/introduction",
    "retrieved_at": "2026-11-01T15:13:38.738685+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}