Guide to consultation of the European Central Bank by national authorities regarding draft legislative provisions

The EC Treaty requires Member States to seek the European Central Bank's advice on draft legislative provisions falling within the ECB's fields of competence. Following EU enlargement the number of actors involved in this consultation process has substantially increased. The ECB has therefore prepared this Guide to inform and provide assistance to national authorities, especially in the new Member States, in respect of this duty. To this end, the Guide explains the objectives and scope of consulting the ECB and clarifies the procedure to be followed.