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Decision of the European Central Bank of 28 October 2008 on transitional provisions for the application of minimum reserves by the European Central Bank following the introduction of the euro in Slovakia (ECB/2008/14) (2008/892/EC)
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Article 3Transitional provisions for institutions located in other participating Member States
1.The maintenance period applicable to institutions located in other participating Member States pursuant to Article 7 of Regulation (EC) No 1745/2003 (ECB/2003/9) shall remain unaffected by the existence of a transitional maintenance period for institutions located in Slovakia.
2.Institutions located in other participating Member States may decide to deduct from their reserve base for the maintenance periods from 10 December 2008 to 20 January 2009 and from 21 January to 10 February 2009 any liabilities owed to institutions located in Slovakia, even though at the time the minimum reserves are calculated such institutions will not appear on the list of institutions subject to reserve requirements mentioned in Article 2(3) of Regulation (EC) No 1745/2003 (ECB/2003/9).
3.Institutions located in other participating Member States that wish to deduct liabilities owed to institutions located in Slovakia shall, for the maintenance periods from 10 December 2008 to 20 January 2009 and from 21 January to 10 February 2009, calculate their minimum reserves on the basis of their balance sheet at 31 October and 30 November 2008 respectively and report a table in accordance with footnote 5 of Table 1 of Annex I to Regulation (EC) No 2423/2001 (ECB/2001/13) showing institutions located in Slovakia as already subject to the ECB’s minimum reserve system.
This shall be without prejudice to the obligation for institutions to report statistical information for the periods concerned in accordance with Table 1 of Annex I to Regulation (EC) No 2423/2001 (ECB/2001/13), still showing institutions located in Slovakia as being banks located in the ‘Rest of the world’.
The tables shall be reported in accordance with the time limits and procedures laid down in Regulation (EC) No 2423/2001 (ECB/2001/13).
4.For the maintenance periods starting in December 2008, January and February 2009, institutions located in other participating Member States that benefit from the derogation under Article 2(2) of Regulation (EC) No 2423/2001 (ECB/2001/13) and wish to deduct liabilities owed to institutions located in Slovakia, shall calculate their minimum reserves on the basis of their balance sheet as at 30 September 2008 and report a table in accordance with footnote 5 of Table 1 of Annex I to Regulation (EC) No 2423/2001 (ECB/2001/13) showing institutions located in Slovakia as already subject to the ECB’s minimum reserve system.
This shall be without prejudice to the obligation for institutions to report statistical information for the periods concerned in accordance with Table 1 of Annex I to Regulation (EC) No 2423/2001 (ECB/2001/13) still showing institutions located in Slovakia as being banks located in the ‘Rest of the world’.
The tables shall be reported in accordance with the time limits and procedures laid down in Regulation (EC) No 2423/2001 (ECB/2001/13).
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