Decision (EU) 2019/45 of the European Central Bank (repealed)Show full title

Decision (EU) 2019/45 of the European Central Bank

of 29 November 2018

laying down the terms and conditions for transfers of the European Central Bank's capital shares between the national central banks and for the adjustment of the paid-up capital and repealing Decision ECB/2013/29 (ECB/2018/29) (repealed)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 28.5 thereof,

Whereas:

(1) Decision (EU) 2019/43 of the European Central Bank (ECB/2018/27)(1) provides for the adjustment of the weightings assigned to the national central banks (NCBs) in the key for subscription to the European Central Bank's (ECB's) capital (hereinafter the ‘capital key weightings’ and the ‘capital key’ respectively). This adjustment requires the Governing Council to determine the terms and conditions for transfers of capital shares between the NCBs that are members of the European System of Central Banks (ESCB) on 31 December 2018 in order to ensure that the distribution of these shares corresponds to the adjustments made. Accordingly, the adoption of a new decision is required to repeal Decision ECB/2013/29(2) with effect from 1 January 2019.

(2) Decision (EU) 2019/44 of the European Central Bank (ECB/2018/28)(3) determines how and to what extent the NCBs of the Member States whose currency is the euro (hereinafter ‘euro area NCBs’) are under an obligation to pay up the ECB's capital in view of the adjusted capital key. Decision (EU) 2019/48 of the European Central Bank (ECB/2018/32)(4) determines the percentage that the NCBs of the Member States whose currency is not the euro (hereinafter ‘non-euro area NCBs’) are under an obligation to pay up with effect from 1 January 2019 in view of the adjusted capital key.

(3) Given that each euro area NCB has already paid up its full share in the ECB's subscribed capital as applicable until 31 December 2018 under Decision ECB/2013/30 of the European Central Bank(5), and as far as Lietuvos bankas is concerned, under Article 2 of Decision (EU) 2015/287 of the European Central Bank (ECB/2014/61)(6), in conjunction with Decision ECB/2013/31(7), each euro area NCB should either transfer an additional amount to the ECB or receive an amount back from the ECB, as appropriate, in order to arrive at the amounts shown in the table in Article 1 of Decision (EU) 2019/44 (ECB/2018/28).

(4) Likewise, given that the non-euro area NCBs have already paid up a percentage of their shares in the ECB's subscribed capital as applicable until 31 December 2018 under Decision ECB/2013/31, each of them should either transfer an additional amount to the ECB, or receive an amount back from the ECB, as appropriate, in order to arrive at the amounts shown in the third column of the table in Article 1 of Decision (EU) 2019/48 (ECB/2018/32),

HAS ADOPTED THIS DECISION:

(1)

Decision (EU) 2019/43 of the European Central Bank of 29 November 2018 on the national central banks' percentage shares in the key for subscription to the European Central Bank's capital and repealing Decision ECB/2013/28 (ECB/2018/27) (see page 178 of this Official Journal).

(2)

Decision ECB/2013/29 of 29 August 2013 laying down the terms and conditions for transfers of the European Central Bank's capital shares between the national central banks and for the adjustment of the paid-up capital (OJ L 16, 21.1.2014, p. 55).

(3)

Decision (EU) 2019/44 of the European Central Bank of 29 November 2018 on the paying-up of the European Central Bank's capital by the national central banks of Member States whose currency is the euro, amending Decision ECB/2014/61 and repealing Decision ECB/2013/30 (ECB/2018/28) (see page 180 of this Official Journal).

(4)

Decision (EU) 2019/48 of the European Central Bank of 30 November 2018 on the paying-up of the European Central Bank's capital by the non-euro area national central banks and repealing Decision ECB/2013/31 (ECB/2018/32) (see page 196 of this Official Journal).

(5)

Decision ECB/2013/30 of 29 August 2013 on the paying-up of the European Central Bank's capital by the national central banks of Member States whose currency is the euro (OJ L 16, 21.1.2014, p. 61).

(6)

Decision (EU) 2015/287 of the European Central Bank of 31 December 2014 on the paying-up of capital, transfer of foreign reserve assets and contribution by Lietuvos bankas to the European Central Bank's reserves and provisions (ECB/2014/61) (OJ L 50, 21.2.2015, p. 44).

(7)

Decision ECB/2013/31 of 30 August 2013 on the paying-up of the European Central Bank's capital by the non-euro area national central banks (OJ L 16, 21.1.2014, p. 63).