ECB/2020/7 · GlobalLawDB

Contents

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 29 March 2017, the United Kingdom of Great Britain and Northern Ireland (the ‘United Kingdom’) submitted the notification of its intention to withdraw from the European Union pursuant to Article 50 of the Treaty on European Union. The Treaty on European Union and the Treaty on the Functioning of the European Union will cease to apply to the United Kingdom from the date following the date referred to in Article 1(1) of Decision (EU) 2019/1810 of the European Council^note. Upon the withdrawal of the United Kingdom from the European Union, the Bank of England (BoE) ceases to be a national central bank of a Member State and therefore of the European System of Central Banks. Decision (EU) 2020/137 of the European Central Bank (ECB/2020/3)^note provides for the adjustment of the key for subscription to the capital of the European Central Bank (ECB) (hereinafter the ‘capital key’) in accordance with Article 29.3 and Article 29.4 of the Statute of the European System of Central Banks and of the European Central Bank and establishes, with effect from 1 February 2020, new weightings assigned to the national central banks in the adjusted capital key (hereinafter the ‘capital key weightings’).

(2)Article 1(d) of Decision ECB/2010/29^note defines the ‘banknote allocation key’ and refers to Annex I to that Decision, which specifies the banknote allocation key applying since 1 January 2019. Given that new capital key weightings will apply from 1 February 2020, Decision ECB/2010/29 needs to be amended in order to determine the banknote allocation key applying from that date,

HAS ADOPTED THIS DECISION:

Article 1Amendments#

1.The final sentence of Article 1(d) of Decision ECB/2010/29 is replaced by the following:‘Annex I to this Decision specifies the banknote allocation key that shall apply from 1 February 2020.’

2.Annex I to Decision ECB/2010/29 is replaced by the text set out in the Annex to this Decision.

Article 2Entry into force#

This Decision shall enter into force on 1 February 2020.

Annex I · Banknote allocation key from 1 february 2020

%
European Central Bank	8,0000
Nationale Bank van België/Banque Nationale de Belgique	3,3520
Deutsche Bundesbank	24,2525
Eesti Pank	0,2590
Central Bank of Ireland	1,5580
Bank of Greece	2,2755
Banco de España	10,9705
Banque de France	18,7905
Banca d’Italia	15,6295
Central Bank of Cyprus	0,1980
Latvijas Banka	0,3585
Lietuvos bankas	0,5325
Banque centrale du Luxembourg	0,3030
Central Bank of Malta	0,0965
De Nederlandsche Bank	5,3915
Oesterreichische Nationalbank	2,6925
Banco de Portugal	2,1535
Banka Slovenije	0,4430
Národná banka Slovenska	1,0535
Suomen Pankki	1,6900
TOTAL	100,0000

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