OPINION OF THE EUROPEAN CENTRAL BANK
of 24 February 2014
on the mismatch of maturity and foreign currency positions of credit institutions

Introduction and legal basis

On 16 January 2014, the European Central Bank (ECB) received a request from the Magyar Nemzeti
Bank (MNB) for an opinion on a draft decree regulating the mismatch of maturity and foreign currency
positions of credit institutions (hereinafter the ‘draft decree’).

The ECB’s competence to deliver an opinion is based on Articles 127(4) and 282(5) of the Treaty on the
Functioning of the European Union and the sixth indent of Article 2(1) of Council Decision 98/415/EC1,
as the draft decree concerns rules applicable to financial institutions insofar as they materially influence
the stability of financial institutions and markets. In accordance with the first sentence of Article 17.5 of
the Rules of Procedure of the European Central Bank, the Governing Council has adopted this opinion.

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