ECB/2020/56 · GlobalLawDB

Contents

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,Having regard to the Treaty on the Functioning of the European Union,Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 33 thereof,Whereas:

(1)Decision (EU) 2020/440 of the European Central Bank (ECB/2020/17)^note establishes a temporary pandemic emergency purchase programme (PEPP) for monetary policy purposes. Provision needs to be made for the interim distribution of the European Central Bank’s income from the PEPP in Decision (EU) 2015/298 of the European Central Bank (ECB/2014/57)^note.

(2)Therefore, Decision (EU) 2015/298 (ECB/2014/57) should be amended accordingly,

HAS ADOPTED THIS DECISION:

Article 1Amendment#

Point (d) of Article 1 of Decision (EU) 2015/298 (ECB/2014/57) is replaced by the following:

(d)“ECB’s income arising from securities” means the net income arising from purchases by the ECB of securities: (i) under the SMP in accordance with Decision ECB/2010/5 of the European Central Bank^note; (ii) under the CBPP3 in accordance with Decision (EU) 2020/187 of the European Central Bank (ECB/2020/8)^note; (iii) under the ABSPP in accordance with Decision ECB/2014/45; (iv) under the secondary markets public sector asset purchase programme (PSPP) in accordance with Decision (EU) 2020/188 of the European Central Bank (ECB/2020/9)^note; and (v) under the pandemic emergency purchase programme (PEPP) in accordance with Decision (EU) 2020/440 of the European Central Bank (ECB/2020/17)^note.

Article 2Entry into force#

This Decision shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.It shall apply from 31 December 2020.