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Decision of the European Central Bank of 30 December 2006 on Banka Slovenije's paying-up of capital, transfer of foreign reserve assets and contribution to the European Central Bank's reserves and provisions (ECB/2006/30) (2007/48/EC)

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Article 5Contribution to the ECB's reserves and provisions

1.With effect from 1 January 2007 and in accordance with paragraphs 5 and 6 and Article 3, Banka Slovenije shall contribute to the ECB's reserves, to those provisions equivalent to reserves, and to the amount still to be appropriated to the reserves and provisions corresponding to the balance of the profit and loss account as at 31 December 2006.

2.The amount to be contributed by Banka Slovenije shall be determined in accordance with Article 49.2 of the Statute. The references in Article 49.2 to the ‘number of shares subscribed by the central bank concerned’ and the ‘number of shares already paid up by the other central banks’ shall refer to the weightings of Banka Slovenije and the NCBs of the existing participating Member States, respectively, in the ECB's capital key, pursuant to Decision ECB/2006/21.

3.For the purposes of paragraph 1, ‘the ECB's reserves’ and ‘provisions equivalent to reserves’ shall include, inter alia, the ECB's general reserve fund, balances on revaluation accounts and provisions for foreign exchange rate, interest rate and gold price risks.

4.At the latest on the first working day following the Governing Council's approval of the ECB's annual accounts for the year 2006, the ECB shall calculate and confirm to Banka Slovenije the amount to be contributed by Banka Slovenije under paragraph 1.

5.On the second working day following the Governing Council's approval of the ECB's annual accounts for the year 2006, Banka Slovenije shall, by means of two separate Target transfers, pay to the ECB

(a)

the amount due to the ECB under paragraph 4; and

(b)

the interest accruing during the period from 1 January 2007 until that date, on the amount due to the ECB under paragraph 4.

6.Any interest accruing under paragraph 5 b) shall be calculated on a daily basis, using the actual over-360-day method of calculation, at a rate equal to the marginal interest rate used by the ESCB in that of its most recent main refinancing operation.

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