Document ID: 02010D0031(01)-20220323
Language: ENG

02010D0031(01) — EN — 23.03.2022 — 002.001
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<table><col/><col/><tr><td><p><a>&#9658;B</a></p></td><td><p>                        DECISION OF THE EUROPEAN CENTRAL BANK</p><p>of 20 December 2010</p><p>concerning the opening of accounts for the processing of payments in connection with EFSF loans to Member States whose currency is the euro</p><p>(ECB/2010/31)</p><p><a>(2011/15/EU)</a></p><p>(OJ L 010 14.1.2011, p. 7)</p></td></tr></table>
Amended by:
<table><col/><col/><col/><col/><col/><tr><td><p>&#160;</p></td><td><p>&#160;</p></td><td><p>Official Journal</p></td></tr><tr><td><p>&#160;&#160;No</p></td><td><p>page</p></td><td><p>date</p></td></tr><tr><td><p><a>&#9658;M1</a></p></td><td><p><a>                              DECISION OF THE EUROPEAN CENTRAL BANK                           &#160;of 31 October 2011</a></p></td><td><p>&#160;&#160;L&#160;289</p></td><td><p>35</p></td><td><p>8.11.2011</p></td></tr><tr><td><p><a>&#9658;M2</a></p></td><td><p><a>                              DECISION (EU) 2022/447 OF THE EUROPEAN CENTRAL BANK                           &#160;of 8&#160;March 2022</a></p></td><td><p>&#160;&#160;L&#160;90</p></td><td><p>197</p></td><td><p>18.3.2022</p></td></tr></table>
DECISION OF THE EUROPEAN CENTRAL BANK
of 20 December 2010
concerning the opening of accounts for the processing of payments in connection with EFSF loans to Member States whose currency is the euro
(ECB/2010/31)
(2011/15/EU)
Article 1
Opening of cash accounts
The ECB may, upon request of the NCB of a borrower Member State, open cash accounts in the name of such NCB for the processing of payments in connection with a Loan Facility Agreement or Financial Assistance Facility Agreement (hereinafter an ‘NCB cash account’).
Article 2
Acceptance of payments on the cash accounts
An NCB cash account shall only be used to process payments in connection with a Loan Facility Agreement or Financial Assistance Facility Agreement.
Article 3
Acceptance of instructions
The ECB shall, in relation to an NCB cash account, only accept instructions from the NCB holding the account.
Article 4
Balance of cash accounts
No amount shall be standing to the debit of an NCB cash account at any time. Therefore, no payments shall be effected from such accounts beyond the amount standing to the credit of these accounts.
Article 5
Remuneration
The NCB cash account shall be remunerated in accordance with the provisions of Article 2(1) of Decision (EU) 2019/1743 of the European Central Bank (ECB/2019/31) ( 1 ).
Article 6
Entry into force
This Decision shall enter into force on the day following its publication in the Official Journal of the European Union .
<note>
( 1 ) Decision (EU) 2019/1743 of the European Central Bank of 15 October 2019 on the remuneration of holdings of excess reserves and of certain deposits (ECB/2019/31) (OJ L 267, 21.10.2019, p. 12).
</note>