Contents
Article 1Functional signing powers#
1.By virtue of their function, persons shall be authorised in their respective areas of responsibility to legally commit the ECB to third parties as further specified in Annex I and II.
2.For the purpose of determining a category under paragraph 1 in cases where it is not possible to clearly determine the net value of the commitment entered into, a reasonable and cautious estimation shall be made. This estimation shall take into account potential risks involved for the ECB, in particular financial and reputational risks.
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