Allocation of euro banknotes within the Eurosystem
Article 4
1
The total value of euro banknotes in circulation shall be allocated to the Eurosystem members by application of the banknote allocation key.
2
The difference between the value of euro banknotes allocated to each NCB in accordance with the banknote allocation key and the value of the euro banknotes that such NCB puts into circulation shall give rise to intra-Eurosystem balances. The ECB shall hold intra-Eurosystem claims on NCBs in proportion to their shares in the subscribed capital key, for a value equivalent to the value of euro banknotes that it issues.