Decision (EU) 2020/188 of the European Central BankShow full title

Article 2 U.K. Definitions

For the purposes of this Decision, the following definitions shall apply:

(1)

‘Eurosystem central bank’ means the ECB and the national central banks of the Member States whose currency is the euro (hereinafter the 'NCBs');

(2)

‘recognised agency’ means an entity that the Eurosystem has classified as such;

(3)

‘international organisation’ means an entity within the meaning of Article 118 of Regulation (EU) No 575/2013 of the European Parliament and of the Council(1) and that the Eurosystem has classified as such for the purpose of the PSPP;

(4)

‘multilateral development bank’ means an entity within the meaning of Article 117(2) of Regulation (EU) No 575/2013 and that the Eurosystem has classified as such for the purpose of the PSPP;

(5)

‘positive outcome of a review’ means the later of the following two decisions: the decision by the Board of Directors of the European Stability Mechanism and, in case the International Monetary Fund co-finances the financial assistance programme, the Executive Board of the International Monetary Fund to approve the next disbursement under that programme, on the understanding that both decisions are necessary for the resumption of purchases under the PSPP;

(6)

‘stock’ means the sum of the book value, at the time of purchase, of all purchases made in marketable debt securities, taking into account redemptions of maturing principal that have occurred;

(7)

‘net purchases’ means purchases of eligible marketable debt securities in a given month, net of redemption amounts from maturing securities purchased under the APP within that month;

(8)

‘cumulative net purchases’ means the sum of net purchases since the start of the respective purchase programme.

Lists of the entities referred to in points (2) to (4) are published on the ECB's website.

(1)

Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1).