Decision (EU) 2019/669 of the European Central BankShow full title

Decision (EU) 2019/669 of the European Central Bank

of 4 April 2019

amending Decision ECB/2013/10 on the denominations, specifications, reproduction, exchange and withdrawal of euro banknotes (ECB/2019/9)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 128(1) thereof,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 16 thereof,

Whereas:

(1) On 19 April 2013, the European Central Bank (ECB) adopted Decision ECB/2013/10(1), which established a number of technical standards to cover both current and future series of euro banknotes and further clarified some of the rules and procedures as regards euro banknotes.

(2) The ECB has decided to make modifications to the second series of euro banknotes, known as the Europa series. The height of the euro 100 and euro 200 denomination banknotes is to be reduced.

(3) On 4 May 2016, the Governing Council decided to exclude the euro 500 denomination banknotes from the Europa series.

(4) Furthermore, the accession of Croatia in 2013 requires the initials of the ECB in Croatian to be added to the euro 50, 100 and 200 denominations of the second series of euro banknotes. They are to be added to the element of the design that includes the European Union's official language variants.

(5) For the sake of consistency, the threshold for the requirement to provide documentation on the origin of the euro banknotes and identification of the customer or, where applicable, of the beneficial owner as defined in Directive (EU) 2015/849 of the European Parliament and of the Council(2), should be increased to EUR 10 000. This increase will harmonise it with the threshold for persons trading in goods to the extent that payments are made or received in cash in an amount of EUR 10 000 or more under Directive (EU) 2015/849.

(6) There is a need to clarify that the exchange of damaged banknotes may take place by exchanging banknotes of the same value in any denomination or by transferring or crediting the value to an applicant's account. It should be clarified that the fee for the exchange of genuine banknotes damaged by anti-theft devices also applies when the applicant requests that the national central bank (NCB) transfers or credits the value of the respective banknotes to an account.

(7) Therefore, Decision ECB/2013/10 should be amended accordingly,

HAS ADOPTED THIS DECISION:

(1)

Decision ECB/2013/10 of 19 April 2013 on the denominations, specifications, reproduction, exchange and withdrawal of euro banknotes (OJ L 118, 30.4.2013, p. 37).

(2)

Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC (OJ L 141, 5.6.2015, p. 73).