THE EXECUTIVE BOARD OF THE EUROPEAN CENTRAL BANK,Having regard to the Treaty on the Functioning of the European Union, and in particular the first and fourth indents of Article 127(2) thereof,Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 3.1 and Articles 17, 22 and 23 thereof,Whereas:
(1)The Governing Council adopted Decision (EU) 2024/1209 of the European Central Bank (ECB/2024/11)note on 16 April 2024 as a single legal act containing provisions on the remuneration of non-monetary policy deposits in order to enhance transparency and consistency. Non-monetary policy deposits also encompass certain deposits falling within the scope of Guideline (EU) 2022/912 of the European Central Bank (ECB/2022/8)note and Decision (EU) 2022/911 of the European Central Bank (ECB/2022/22)note.
(2)On 30 July 2024, the Governing Council adopted Guideline (EU) 2024/2616 of the European Central Bank (ECB/2024/20)note, which amends Guideline (EU) 2022/912 (ECB/2022/8) by, inter alia, replacing certain provisions on remuneration set out in that Guideline with references to the relevant provisions of Decision (EU) 2024/1209 (ECB/2024/11).
(3)Consequently, certain provisions on remuneration set out in Decision (EU) 2022/911 (ECB/2022/22) should also be replaced by references to the relevant provisions of Decision (EU) 2024/1209 (ECB/2024/11).
(4)Given that Decision (EU) 2024/1209 (ECB/2024/11) and Guideline (EU) 2024/2616 (ECB/2024/20) will apply from 1 December 2024, the provisions of this Decision should apply from the same date, to ensure legal certainty.
(5)Therefore, Decision (EU) 2022/911 (ECB/2022/22) should be amended accordingly,
HAS ADOPTED THIS DECISION:
Article 1Amendment#
Article 12 of Annex I to Decision (EU) 2022/911 (ECB/2022/22) is replaced by the following:‘Article 12Remuneration of Accounts1.MCAs, DCAs and sub-accounts shall be remunerated at the rate set out in Article 2(3), point (b), of Decision (EU) 2024/1209 of the European Central Bank (ECB/2024/11)note.2.Overnight balances held on a TIPS AS technical account or on an RTGS AS technical account for AS settlement procedure D, and guarantee funds held by EEA financial market infrastructures, including those held on an AS guarantee fund account, shall be remunerated at the rate set out in Article 2(3), point (c), of Decision (EU) 2024/1209 (ECB/2024/11).note
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