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Decision of the European Central Bank of 31 October 2011 amending Decision ECB/2010/15 concerning the administration of EFSF loans to Member States whose currency is the euro, and amending Decision ECB/2010/31 concerning the opening of accounts for the processing of payments in connection with EFSF loans to Member States whose currency is the euro (ECB/2011/16) (2011/728/EU)
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Article 2
Decision ECB/2010/31 is amended as follows:
(1)
Article 1 is replaced by the following:
‘Article 1Opening of cash accounts
The ECB may, upon request of the NCB of a borrower Member State, open cash accounts in the name of such NCB for the processing of payments in connection with a Loan Facility Agreement or Financial Assistance Facility Agreement (hereinafter an ‘NCB cash account’).’;
(2)
Article 2 is replaced by the following:
‘Article 2Acceptance of payments on the cash accounts
An NCB cash account shall only be used to process payments in connection with a Loan Facility Agreement or Financial Assistance Facility Agreement.’.
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