http://www.legislation.gov.uk/eudn/2020/1306/article/2Decision (EU) 2020/1306 of the European Central Bank of 16 September 2020 on the temporary exclusion of certain exposures to central banks from the total exposure measure in view of the COVID-19 pandemic (ECB/2020/44)Decision (EU) 2020/1306 of the European Central BankDecision (EU) 2020/1306 of the European Central Bank of 16 September 2020 on the temporary exclusion of certain exposures to central banks from the total exposure measure in view of the COVID-19 pandemic (ECB/2020/44)King's Printer of Acts of Parliamenthttps://webarchive.nationalarchives.gov.uk/eu-exit/https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32020D1306texttext/xmlen2023-12-08Expert Participation2023-07-11Decision (EU) 2020/1306 of the European Central Bank of 16 September 2020 on the temporary exclusion of certain exposures to central banks from the total exposure measure in view of the COVID-19 pandemic (ECB/2020/44)DecisionFinancial Services and Markets Act 2023Sch. 1 Pt. 13s. 1(4)s. 86(3)
Article 2Determination of the existence of exceptional circumstances1.

For the purposes of Article 500b(2) of Regulation (EU) No 575/2013, the ECB has determined that, subject to paragraphs 2 and 3, exceptional circumstances exist that warrant the exclusion of the central bank exposures listed in points (a) and (b) of Article 500b(1) of that Regulation from the total exposure measure in order to facilitate the implementation of monetary policies.

2.

With regard to the exposures listed in point (b) of Article 500b(1) of Regulation (EU) No 575/2013 the determination in paragraph 1 shall apply to those exposures to Eurosystem central banks that relate to deposits held in the deposit facility or to balances held on reserve accounts, including funds held in order to meet minimum reserve requirements.

3.

The determination shall apply in relation to any institution that is a significant supervised entity in a euro area Member State.