The System of Administrative and Jurisdictional Guarantees Concerning the Decisions of the European Central Bank

The chapter deals with the administrative and judicial remedies set up by the Regulation (EU) no. 1024/2013 of 15 October 2013 which conferred supervisory powers on the European Central Bank (ECB). The Regulation provides natural and legal persons with the possibility to request a review of the decisions taken by the ECB under the powers conferred on it. The Regulation establishes an Administrative Board of Review to carry out the review pertaining the procedural and substantive conformity with the Regulation of the decisions of the ECB. The chapter analyzes the features of the new remedy comparing it with similar remedies against the decisions of the European Banking Authority and of the Single Resolution Board. The chapter examines the procedural and operating rules of the Administrative Board of Review contained in the Decision of the ECB of 14 April 2014