ECB/2024/35 · 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 30.3 thereof,Whereas:

(1)Article 30.3 of the Statute of the ESCB provides that the European Central Bank (ECB) must credit each NCB of a Member State whose currency is the euro with a claim equivalent to the foreign reserve assets that it has transferred to the ECB. This claim is remunerated at the reference rate set out in Decision (EU) 2016/2248 of the European Central Bank (ECB/2016/36)^note, as amended by Decision (EU) 2024/2939 of the European Central Bank (ECB/2024/33)^note. The remuneration applies to the claims equivalent to the foreign reserve assets transferred to the ECB of Hrvatska narodna banka, Lietuvos bankas, Latvijas Banka, Eesti Pank, Národná banka Slovenska, the Central Bank of Cyprus and the Central Bank of Malta, and Banka Slovenije.

(2)In order to promptly apply an adequate remuneration, this Decision should enter into force on 1 January 2025.

(3)Therefore, Decision (EU) 2023/135 of the European Central Bank (ECB/2022/51)^note, Decision (EU) 2015/287 of the European Central Bank (ECB/2014/61)^note, and Decisions ECB/2013/53^note, ECB/2010/34^note, ECB/2008/33^note, ECB/2007/22^note and ECB/2006/30^note of the European Central Bank should be amended accordingly,

HAS ADOPTED THIS DECISION:

Article 1Amendment to Decision (EU) 2023/135 (ECB/2022/51)#

Article 4(2) of Decision (EU) 2023/135 (ECB/2022/51) is replaced by the following:‘2.The claim credited by the ECB to Hrvatska narodna banka shall be remunerated from the settlement date. The interest accruing shall be calculated on a daily basis, using the actual-over-360 day-count method of calculation, at a rate equivalent to 85 % of the reference rate as defined in Article 1(j) of Decision (EU) 2016/2248 (ECB/2016/36), as amended by Decision (EU) 2024/2939 of the European Central Bank (ECB/2024/33)^note.^note

Article 2Amendment to Decision (EU) 2015/287 (ECB/2014/61)#

Article 4(2) of Decision (EU) 2015/287 (ECB/2014/61) is replaced by the following:‘2.The claim credited by the ECB to Lietuvos bankas shall be remunerated from the settlement date. The interest accruing shall be calculated on a daily basis, using the actual-over-360 day-count method of calculation, at a rate equivalent to 85 % of the reference rate as defined in Article 1(j) of Decision (EU) 2016/2248 (ECB/2016/36), as amended by Decision (EU) 2024/2939 of the European Central Bank (ECB/2024/33)^note.^note

Article 3Amendment to Decision ECB/2013/53#

Article 4(2) of Decision ECB/2013/53 is replaced by the following:‘2.The claim credited by the ECB to Latvijas Banka shall be remunerated from the settlement date. The interest accruing shall be calculated on a daily basis, using the actual-over-360 day-count method of calculation, at a rate equivalent to 85 % of the reference rate as defined in Article 1(j) of Decision (EU) 2016/2248 (ECB/2016/36), as amended by Decision (EU) 2024/2939 of the European Central Bank (ECB/2024/33)^note.^note

Article 4Amendment to Decision ECB/2010/34#

Article 4(2) of Decision ECB/2010/34 is replaced by the following:‘2.The claim credited by the ECB to Eesti Pank shall be remunerated from the settlement date. The interest accruing shall be calculated on a daily basis, using the actual-over-360 day-count method of calculation, at a rate equivalent to 85 % of the reference rate as defined in Article 1(j) of Decision (EU) 2016/2248 (ECB/2016/36), as amended by Decision (EU) 2024/2939 of the European Central Bank (ECB/2024/33)^note.^note

Article 5Amendment to Decision ECB/2008/33#

Article 4(2) of Decision ECB/2008/33 is replaced by the following:‘2.The claim credited by the ECB to Národná banka Slovenska shall be remunerated from the settlement date. The interest accruing shall be calculated on a daily basis, using the actual-over-360 day-count method of calculation, at a rate equivalent to 85 % of the reference rate as defined in Article 1(j) of Decision (EU) 2016/2248 (ECB/2016/36), as amended by Decision (EU) 2024/2939 of the European Central Bank (ECB/2024/33)^note.^note

Article 6Amendment to Decision ECB/2007/22#

Article 4(2) of Decision ECB/2007/22 is replaced by the following:‘2.The claims credited by the ECB to the Central Bank of Cyprus and the Central Bank of Malta shall be remunerated from the settlement date. The interest accruing shall be calculated on a daily basis, using the actual-over-360 day-count method of calculation, at a rate equivalent to 85 % of the reference rate as defined in Article 1(j) of Decision (EU) 2016/2248 (ECB/2016/36), as amended by Decision (EU) 2024/2939 of the European Central Bank (ECB/2024/33)^note.^note

Article 7Amendment to Decision ECB/2006/30#

Article 4(2) of Decision ECB/2006/30 is replaced by the following:‘2.The claim credited by the ECB to Banka Slovenije shall be remunerated from the settlement date. The interest accruing shall be calculated on a daily basis, using the actual-over-360 day-count method of calculation, at a rate equivalent to 85 % of the reference rate as defined in Article 1(j) of Decision (EU) 2016/2248 (ECB/2016/36), as amended by Decision (EU) 2024/2939 of the European Central Bank (ECB/2024/33)^note.^note

Article 8Entry into force#

This Decision shall enter into force on 1 January 2025.