Article 1, Point (2) · ECB/2020/27

Contents

(1) point (f) of Article 1 is replaced by the following:
(2) Article 3 is amended as follows:
(3) in Article 4, paragraph 3 is replaced by the following: ‘3…
(4) Article 5 is replaced by the following: ‘Article 5Particip…

(2)Article 3 is amended as follows:

(a)in paragraph 1, the following point (f) is added:

(f)support the central banks in contract management activities.’;

(b)the following paragraph 1a is inserted:‘1a.EPCO shall be hosted by a central bank. The Governing Council shall appoint the hosting central bank every five years.’;

(c)paragraph 7 is replaced by the following:‘7.The EPCO Steering Committee shall conduct an effectiveness and efficiency evaluation of EPCO’s activities in due course before the end of each five-year period referred to in paragraph 1a. Based on this evaluation, and taking into account the interest of other central banks in hosting EPCO, the Governing Council shall decide if it is necessary to conduct a selection procedure to choose a new hosting central bank.’;