# Official Journal C 17/2007

| | ISSN 1725-2423 |
| --- | --- |
| Official Journal
  of the European Union | C 17 |
| | |
| English edition | Information and Notices | Volume 5025 January 2007 |

ISSN 1725-2423

Official Journal

of the European Union

C 17

English edition

Information and Notices

Volume 5025 January 2007

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| Notice No | Contents | page |
| --- | --- | --- |
| | I   Resolutions, recommendations, guidelines and opinions |
| | GUIDELINES |
| | European Central Bank |
| 2007/C 017/01 | Guideline of the European Central Bank of 18 December 2006 amending Guideline ECB/2005/5 on the statistical reporting requirements of the European Central Bank and the procedures for exchanging statistical information within the European System of Central Banks in the field of government finance statistics (ECB/2006/27) | 1 |
| 2007/C 017/02 | Guideline of the European Central Bank of 21 December 2006 on the management of the foreign reserve assets of the European Central Bank by the national central banks and the legal documentation for operations involving such assets (ECB/2006/28) | 5 |

Notice No

Contents

page

I   Resolutions, recommendations, guidelines and opinions

GUIDELINES

European Central Bank

2007/C 017/01

Guideline of the European Central Bank of 18 December 2006 amending Guideline ECB/2005/5 on the statistical reporting requirements of the European Central Bank and the procedures for exchanging statistical information within the European System of Central Banks in the field of government finance statistics (ECB/2006/27)

(ECB/2006/27)

1

2007/C 017/02

Guideline of the European Central Bank of 21 December 2006 on the management of the foreign reserve assets of the European Central Bank by the national central banks and the legal documentation for operations involving such assets (ECB/2006/28)

(ECB/2006/28)

5

| | II   Information |
| --- | --- |
| | INFORMATION FROM EUROPEAN UNION INSTITUTIONS AND BODIES |
| | Commission |
| 2007/C 017/03 | Authorisation for State aid pursuant to Articles 87 and 88 of the EC Treaty — Cases where the Commission raises no objections (
  1
  ) | 22 |
| 2007/C 017/04 | Non-opposition to a notified concentration (Case COMP/M.4356 — Deutsche Bank/Berliner Bank) (
  1
  ) | 24 |
| 2007/C 017/05 | Non-opposition to a notified concentration (Case COMP/M.4479 — News Corporation/JAMBA/OJOM) (
  1
  ) | 24 |

II   Information

INFORMATION FROM EUROPEAN UNION INSTITUTIONS AND BODIES

Commission

2007/C 017/03

Authorisation for State aid pursuant to Articles 87 and 88 of the EC Treaty — Cases where the Commission raises no objections (
  1
  )

1

22

2007/C 017/04

Non-opposition to a notified concentration (Case COMP/M.4356 — Deutsche Bank/Berliner Bank) (
  1
  )

1

24

2007/C 017/05

Non-opposition to a notified concentration (Case COMP/M.4479 — News Corporation/JAMBA/OJOM) (
  1
  )

1

24

| | IV   Notices |
| --- | --- |
| | NOTICES FROM EUROPEAN UNION INSTITUTIONS AND BODIES |
| | Commission |
| 2007/C 017/06 | Euro exchange rates | 25 |
| | European Central Bank |
| 2007/C 017/07 | Agreement of 30 December 2006 between the European Central Bank and Banka Slovenije regarding the claim credited to Banka Slovenije by the European Central Bank under Article 30.3 of the Statute of the European System of Central Banks and of the European Central Bank | 26 |

IV   Notices

NOTICES FROM EUROPEAN UNION INSTITUTIONS AND BODIES

Commission

2007/C 017/06

Euro exchange rates

25

European Central Bank

2007/C 017/07

Agreement of 30 December 2006 between the European Central Bank and Banka Slovenije regarding the claim credited to Banka Slovenije by the European Central Bank under Article 30.3 of the Statute of the European System of Central Banks and of the European Central Bank

26

| | V   Announcements |
| --- | --- |
| | PROCEDURES RELATING TO THE IMPLEMENTATION OF THE COMMON COMMERCIAL AND COMPETITION POLICY |
| | Commission |
| 2007/C 017/08 | Prior notification of a concentration (Case COMP/M.4424 — Japan Tobacco/Gallaher ) (
  1
  ) | 28 |
| 2007/C 017/09 | Prior notification of a concentration (Case COMP/M.4507 — Givaudan/Quest International) (
  1
  ) | 29 |
| 2007/C 017/10 | Prior notification of a concentration (Case COMP/M.4505 — Freeport-McMoRan Copper & Gold/Phelps Dodge Corporation) (
  1
  ) | 30 |
| 2007/C 017/11 | Prior notification of a concentration (Case COMP/M.4556 — Advent/Oxo) — Candidate case for simplified procedure (
  1
  ) | 31 |
| 2007/C 017/12 | Prior notification of a concentration (Case COMP/M.4547 — KKR/Permira/Prosiebensat.1) (
  1
  ) | 32 |

V   Announcements

PROCEDURES RELATING TO THE IMPLEMENTATION OF THE COMMON COMMERCIAL AND COMPETITION POLICY

Commission

2007/C 017/08

Prior notification of a concentration (Case COMP/M.4424 — Japan Tobacco/Gallaher ) (
  1
  )

1

28

2007/C 017/09

Prior notification of a concentration (Case COMP/M.4507 — Givaudan/Quest International) (
  1
  )

1

29

2007/C 017/10

Prior notification of a concentration (Case COMP/M.4505 — Freeport-McMoRan Copper & Gold/Phelps Dodge Corporation) (
  1
  )

1

30

2007/C 017/11

Prior notification of a concentration (Case COMP/M.4556 — Advent/Oxo) — Candidate case for simplified procedure (
  1
  )

1

31

2007/C 017/12

Prior notification of a concentration (Case COMP/M.4547 — KKR/Permira/Prosiebensat.1) (
  1
  )

1

32

| | |
| --- | --- |
| | (1)   Text with EEA relevance |

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(1)   Text with EEA relevance

1

| EN | |
| --- | --- |

EN

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I Resolutions, recommendations, guidelines and opinions

GUIDELINES

European Central Bank

| 25.1.2007 | EN | Official Journal of the European Union | C 17/1 |
| --- | --- | --- | --- |

25.1.2007

EN

Official Journal of the European Union

C 17/1

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GUIDELINE OF THE EUROPEAN CENTRAL BANK

of 18 December 2006

amending Guideline ECB/2005/5 on the statistical reporting requirements of the European Central Bank and the procedures for exchanging statistical information within the European System of Central Banks in the field of government finance statistics

(ECB/2006/27)

(2007/C 17/01)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 5.1 and 5.2, Articles 12.1 and 14.3 thereof,

Whereas:

| (1) | Article 8 of Guideline ECB/2005/5 of 17 February 2005 on the statistical reporting requirements of the European Central Bank and the procedures for exchanging statistical information within the European System of Central Banks in the field of government finance statistics (1), inter alia, provides that the Governing Council will on a yearly basis review the derogations granted to the national central banks (NCBs) that are unable to comply with the requirements laid down in Article 2 and Article 4(1) of the Guideline. |
| --- | --- |

(1)

Article 8 of Guideline ECB/2005/5 of 17 February 2005 on the statistical reporting requirements of the European Central Bank and the procedures for exchanging statistical information within the European System of Central Banks in the field of government finance statistics (1), inter alia, provides that the Governing Council will on a yearly basis review the derogations granted to the national central banks (NCBs) that are unable to comply with the requirements laid down in Article 2 and Article 4(1) of the Guideline.

| (2) | Where derogations apply, Member States need sufficient time to develop sources of the relevant data, and accordingly the first date of transmission for such data needs to be set at a point in time when it is expected that they will be available. |
| --- | --- |

(2)

Where derogations apply, Member States need sufficient time to develop sources of the relevant data, and accordingly the first date of transmission for such data needs to be set at a point in time when it is expected that they will be available.

| (3) | Article 2(2) of Guideline ECB/2005/5 requires the data to be reported by the NCBs to the European Central Bank (ECB) to cover the period from 1991 to the year to which the transmission relates. The start date should now be advanced to 1995, however, due to limited availability of data for years prior to 1995. This change should not, however, prevent those NCBs that have data for years before 1995 from reporting them on a voluntary basis. |
| --- | --- |

(3)

Article 2(2) of Guideline ECB/2005/5 requires the data to be reported by the NCBs to the European Central Bank (ECB) to cover the period from 1991 to the year to which the transmission relates. The start date should now be advanced to 1995, however, due to limited availability of data for years prior to 1995. This change should not, however, prevent those NCBs that have data for years before 1995 from reporting them on a voluntary basis.

| (4) | Pursuant to Article 1 of Council Decision 2006/495/EC of 11 July 2006 in accordance with Article 122(2) of the Treaty on the adoption by Slovenia of the single currency on 1 January 2007 (2), the derogation in favour of Slovenia referred to in Article 4 of the 2003 Act of Accession (3) is abrogated with effect from 1 January 2007. |
| --- | --- |

(4)

Pursuant to Article 1 of Council Decision 2006/495/EC of 11 July 2006 in accordance with Article 122(2) of the Treaty on the adoption by Slovenia of the single currency on 1 January 2007 (2), the derogation in favour of Slovenia referred to in Article 4 of the 2003 Act of Accession (3) is abrogated with effect from 1 January 2007.

| (5) | In accordance with Article 3.5 of the Rules of Procedure of the European Central Bank, the Governor of Banka Slovenije has been invited to attend the meeting of the Governing Council adopting this Guideline, |
| --- | --- |

(5)

In accordance with Article 3.5 of the Rules of Procedure of the European Central Bank, the Governor of Banka Slovenije has been invited to attend the meeting of the Governing Council adopting this Guideline,

HAS ADOPTED THIS GUIDELINE:

Article 1

Guideline ECB/2005/5 is amended as follows:

| 1. | Article 2(2) is replaced by the following:
  ‘2.   The data shall cover the period from 1995 to the year to which the transmission relates (year t-1).’ |
| --- | --- |

1.

Article 2(2) is replaced by the following:

‘2.   The data shall cover the period from 1995 to the year to which the transmission relates (year t-1).’

| 2. | Annex IV is replaced by the Annex to this Guideline. |
| --- | --- |

2.

Annex IV is replaced by the Annex to this Guideline.

Article 2

This Guideline shall enter into force on 1 January 2007.

Article 3

This Guideline is addressed to the NCBs of the Member States that have adopted the euro.

Done at Frankfurt am Main, 18 December 2006.

For the Governing Council of the ECB

The President of the ECB

Jean-Claude TRICHET

---

(1)  OJ L 109, 29.4.2005, p. 81. Guideline as amended by Guideline ECB/2006/2 (OJ L 40, 11.2.2006, p. 32).

1

(2)  OJ L 195, 15.7.2006, p. 25.

2

(3)  OJ L 236, 23.9.2003, p. 33.

3

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ANNEX

‘ANNEX IV

DEROGATIONS RELATED TO THE TIME SERIES LISTED IN ANNEX I, TABLES 1A TO 3B

| Table/row | Description of the time series | First date of transmission |
| --- | --- | --- |
| GERMANY |
| 2A.30 | Foreign exchange holding gains and losses | October 2008 |
| 3A.13,14 | Debt held by non-residents, breakdown |
| 3A.23,25 | Debt, breakdown by residual maturity of which variable interest rate |
| GREECE |
| 3A.13,14 | Debt held by non-residents, breakdown | October 2008 |
| 3A.20 | Long-term debt of which variable interest rate |
| 3A.21,22,23,24,25 | Debt, breakdown by residual maturity |
| FRANCE |
| 3A.13,14 | Debt held by non-residents, breakdown | October 2008 |
| IRELAND |
| 3A.13,14 | Debt held by non-residents, breakdown | October 2008 |
| 3A.31 | Debt-zero coupon bonds |
| ITALY |
| 3A.13,14 | Debt held by non-residents, breakdown | October 2008 |
| LUXEMBOURG (1) |
| 2A.2 | Adjustment between financial and non-financial accounts | October 2008 |
| 2A.3 | Net transactions in financial assets and liabilities |
| 2A.11,12 | Transactions in shares and other equity, breakdown |
| 2A.7,19 | Transactions in financial assets and liabilities of which transactions in financial derivatives |
| 2A.13,22 | Transactions in other financial assets and other liabilities |
| 2A.29,30,31 | Valuation effects on debt and breakdown |
| 2A.32 | Other changes in volume of debt |
| 3A.12,13,14 | Debt held by non-residents, breakdown |
| 3A.21,22,23,24,25 | Debt, breakdown by residual maturity |
| 3A.30 | Average residual maturity of debt |
| NETHERLANDS |
| 3A.13,14 | Debt held by non-residents, breakdown | October 2008 |
| AUSTRIA |
| 2A.10,11,12 | Transactions in shares and other equity, breakdown | October 2008 |
| 2A.25,26,27 | Transactions in debt instruments, breakdown by currency in which they are denominated |
| 2A.29,30,31 | Valuation effects on debt and breakdown |
| 2A.32 | Other changes in volume of debt |
| 3A.13,14 | Debt held by non-residents, breakdown |
| 3A.15,16,17 | Debt, breakdown by currency in which it is denominated |
| 3A.20 | Long-term debt of which variable interest rate |
| 3A.21,22,23,24,25 | Debt, breakdown by residual maturity |
| 3A.30 | Average residual maturity of debt |
| 3A.31 | Debt-zero coupon bonds |
| SLOVENIA (2) |
| 1A.2, 3, 4, 5 | Deficit by subsectors | October 2008 |
| 2A.10,11,12 | Transactions in shares and other equity, breakdown |
| 2A.24 | Transactions in long-term debt instruments |
| 2A.25,26,27 | Transactions in debt instruments, breakdown by currency in which they are denominated |
| 2A.29,30,31 | Valuation effects on debt and breakdown |
| 2A.32 | Other changes in volume of debt |
| 3A.13,14 | Debt held by non-residents, breakdown |
| 3A.20 | Long-term debt of which variable interest rate |
| 3A.30 | Average residual maturity of debt |
| 3A.31 | Debt-zero coupon bonds |

Table/row

Description of the time series

First date of transmission

GERMANY

2A.30

Foreign exchange holding gains and losses

October 2008

3A.13,14

Debt held by non-residents, breakdown

3A.23,25

Debt, breakdown by residual maturity of which variable interest rate

GREECE

3A.13,14

Debt held by non-residents, breakdown

October 2008

3A.20

Long-term debt of which variable interest rate

3A.21,22,23,24,25

Debt, breakdown by residual maturity

FRANCE

3A.13,14

Debt held by non-residents, breakdown

October 2008

IRELAND

3A.13,14

Debt held by non-residents, breakdown

October 2008

3A.31

Debt-zero coupon bonds

ITALY

3A.13,14

Debt held by non-residents, breakdown

October 2008

LUXEMBOURG (1)

2A.2

Adjustment between financial and non-financial accounts

October 2008

2A.3

Net transactions in financial assets and liabilities

2A.11,12

Transactions in shares and other equity, breakdown

2A.7,19

Transactions in financial assets and liabilities of which transactions in financial derivatives

2A.13,22

Transactions in other financial assets and other liabilities

2A.29,30,31

Valuation effects on debt and breakdown

2A.32

Other changes in volume of debt

3A.12,13,14

Debt held by non-residents, breakdown

3A.21,22,23,24,25

Debt, breakdown by residual maturity

3A.30

Average residual maturity of debt

NETHERLANDS

3A.13,14

Debt held by non-residents, breakdown

October 2008

AUSTRIA

2A.10,11,12

Transactions in shares and other equity, breakdown

October 2008

2A.25,26,27

Transactions in debt instruments, breakdown by currency in which they are denominated

2A.29,30,31

Valuation effects on debt and breakdown

2A.32

Other changes in volume of debt

3A.13,14

Debt held by non-residents, breakdown

3A.15,16,17

Debt, breakdown by currency in which it is denominated

3A.20

Long-term debt of which variable interest rate

3A.21,22,23,24,25

Debt, breakdown by residual maturity

3A.30

Average residual maturity of debt

3A.31

Debt-zero coupon bonds

SLOVENIA (2)

1A.2, 3, 4, 5

Deficit by subsectors

October 2008

2A.10,11,12

Transactions in shares and other equity, breakdown

2A.24

Transactions in long-term debt instruments

2A.25,26,27

Transactions in debt instruments, breakdown by currency in which they are denominated

2A.29,30,31

Valuation effects on debt and breakdown

2A.32

Other changes in volume of debt

3A.13,14

Debt held by non-residents, breakdown

3A.20

Long-term debt of which variable interest rate

3A.30

Average residual maturity of debt

3A.31

Debt-zero coupon bonds

---

(1)  For items 2A.2, 3, 7, 13, 19, 22 the derogation only applies to data requested for the period from 1995 to 1998.

1

(2)  Slovenia has a derogation for all data requested in Tables 2A, 2B, 3A and 3B of Annex I for the period from 1995 to 1998. For items 1A.2, 3, 4, 5 the derogation only applies to data requested for the period from 1995 to 1998. For items 2A.10,11,12,24 the derogation only applies to data requested for 1999.’

2

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| 25.1.2007 | EN | Official Journal of the European Union | C 17/5 |
| --- | --- | --- | --- |

25.1.2007

EN

Official Journal of the European Union

C 17/5

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GUIDELINE OF THE EUROPEAN CENTRAL BANK

of 21 December 2006

on the management of the foreign reserve assets of the European Central Bank by the national central banks and the legal documentation for operations involving such assets

(ECB/2006/28)

(2007/C 17/02)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty establishing the European Community, and in particular to the third indent of Article 105(2) thereof,

Having regard to the third indent of Article 3(1) and Articles 12(1) and 30(6) of the Statute of the European System of Central Banks and of the European Central Bank,

Whereas:

| (1) | Pursuant to Article 30(1) of the Statute, the European Central Bank (ECB) is provided by the national central banks (NCBs) of the Member States that have adopted the euro with foreign reserve assets and has the full right to hold and manage the foreign reserves that are transferred to it. |
| --- | --- |

(1)

Pursuant to Article 30(1) of the Statute, the European Central Bank (ECB) is provided by the national central banks (NCBs) of the Member States that have adopted the euro with foreign reserve assets and has the full right to hold and manage the foreign reserves that are transferred to it.

| (2) | Pursuant to Articles 9(2) and 12(1) of the Statute, the ECB may manage certain of its activities through the NCBs and has recourse to the NCBs to carry out certain of its operations. Accordingly, the ECB considers that the NCBs should manage the foreign reserves transferred to it as its agents. |
| --- | --- |

(2)

Pursuant to Articles 9(2) and 12(1) of the Statute, the ECB may manage certain of its activities through the NCBs and has recourse to the NCBs to carry out certain of its operations. Accordingly, the ECB considers that the NCBs should manage the foreign reserves transferred to it as its agents.

| (3) | The involvement of the NCBs in the management of the foreign reserve assets transferred to the ECB and the transactions relating to such management require specific documentation for operations involving the ECB's foreign reserves. |
| --- | --- |

(3)

The involvement of the NCBs in the management of the foreign reserve assets transferred to the ECB and the transactions relating to such management require specific documentation for operations involving the ECB's foreign reserves.

| (4) | Guideline ECB/2000/1 of 3 February 2000 on the management of the foreign reserve assets of the European Central Bank by the national central banks and the legal documentation for operations involving the foreign reserve assets of the European Central Bank (1) has already been amended several times since its adoption and should be recast in the interests of clarity and transparency, |
| --- | --- |

(4)

Guideline ECB/2000/1 of 3 February 2000 on the management of the foreign reserve assets of the European Central Bank by the national central banks and the legal documentation for operations involving the foreign reserve assets of the European Central Bank (1) has already been amended several times since its adoption and should be recast in the interests of clarity and transparency,

HAS ADOPTED THIS GUIDELINE:

Article 1

Definitions

For the purposes of this Guideline:

| — | ‘European jurisdictions’ means the following jurisdictions: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Slovenia, Spain, Sweden, Switzerland and the United Kingdom (England and Wales only); |
| --- | --- |

—

‘European jurisdictions’ means the following jurisdictions: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Slovenia, Spain, Sweden, Switzerland and the United Kingdom (England and Wales only);

| — | ‘participating NCB’ means the NCB of a Member State that has adopted the euro. |
| --- | --- |

—

‘participating NCB’ means the NCB of a Member State that has adopted the euro.

Article 2

Management of foreign reserve assets by the participating NCBs as the ECB's agents

1.   Each participating NCB shall be entitled to participate in the operational management of the foreign reserve assets transferred to the ECB. A participating NCB may decide to abstain from such management or to pool such management with one or more other participating NCBs. If an NCB does not participate in the operational management of the ECB's foreign reserve assets, then the other NCBs shall manage the assets that otherwise would have been managed by the abstaining NCB.

2.   Participating NCBs shall carry out operations involving the foreign reserve assets of the ECB as agents of the ECB. By commencing such operations, a participating NCB shall be deemed to acknowledge its status as the ECB's agent. In relation to all operations that the participating NCBs conduct on the ECB's behalf, when agreeing on each operation such participating NCBs shall disclose to all parties the ECB's status as principal both by name and by reference to an account number or identifier.

3.   When carrying out operations involving the foreign reserve assets of the ECB as the ECB's agent, each participating NCB shall subordinate its own interests, or the interests of any entity for which it carries out operations, to the ECB's interests.

4.   When asked by a counterparty of the ECB for proof of its authority to carry out operations involving the foreign reserve assets of the ECB as the ECB's agent, a participating NCB shall provide such counterparty with proof of its mandate of agency.

Article 3

Legal documentation

1.   All operations involving the foreign reserve assets of the ECB shall be conducted using standard legal documentation as required by this Article.

2.   All collateralised operations involving the foreign reserve assets of the ECB comprising repurchase agreements, reverse repurchase agreements, buy/sell-back agreements and sell/buy-back agreements, and all over-the-counter derivatives operations involving the foreign reserve assets of the ECB shall be documented under the standard agreements listed in Annex I, in such forms as may be approved or amended by the ECB from time to time.

3.   A document in the format set out in Annex II shall be annexed to and form an integral part of every standard agreement, except the FBE Master Agreement for Financial Transactions (Edition 2004), under which collateralised operations (including, without limitation, repurchase agreements, reverse repurchase agreements, buy/sell-back agreements, sell/buy-back agreements, securities lending agreements and triparty repo arrangements) or over-the-counter derivatives operations involving the ECB's foreign reserve assets are conducted.

4.   There shall be in place with all counterparties a master netting agreement in one of the forms set out in Annex III, except counterparties: (i) with which the ECB has signed an FBE Master Agreement for Financial Transactions (Edition 2004); and (ii) which are organised or incorporated under the laws of any of the European jurisdictions, except Ireland.

5.   The provision of financial services involving the foreign reserve assets of the ECB by financial intermediaries including, without limitation, banking, custodial and investment services obtained from correspondents, custodians and depositories, settlement organisations and central clearers for exchange-traded derivatives shall be documented under such specific agreements as the ECB may approve from time to time.

Article 4

Final provisions

1.   This Guideline shall enter into force on 1 January 2007.

2.   Guideline ECB/2000/1, as amended, is hereby repealed.

3.   References to the repealed Guideline shall be construed as being made to this Guideline.

4.   This Guideline is addressed to the participating NCBs.

Done at Frankfurt am Main, 21 December 2006.

For the Governing Council of the ECB

The President of the ECB

Jean-Claude TRICHET

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(1)  OJ L 207, 17.8.2000, p. 24. Guideline as last amended by Guideline ECB/2005/15 (OJ L 345, 28.12.2005, p. 33).

1

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ANNEX I

STANDARD AGREEMENTS FOR COLLATERALISED OPERATIONS, OVER-THE-COUNTER DERIVATIVES OPERATIONS AND DEPOSITS

| 1. | All collateralised operations involving the foreign reserve assets of the ECB (comprising repurchase agreements, reverse repurchase agreements, buy/sell-back agreements and sell/buy-back agreements) must be documented using the following standard agreements, in such form as may be approved or amended by the ECB from time to time:






  (a) | The FBE Master Agreement for Financial Transactions (Edition 2004) for operations with counterparties organised or incorporated under the laws of any of the European jurisdictions and under the laws of Northern Ireland and Scotland; |
| --- | --- | --- |

1.

All collateralised operations involving the foreign reserve assets of the ECB (comprising repurchase agreements, reverse repurchase agreements, buy/sell-back agreements and sell/buy-back agreements) must be documented using the following standard agreements, in such form as may be approved or amended by the ECB from time to time:

(a)

The FBE Master Agreement for Financial Transactions (Edition 2004) for operations with counterparties organised or incorporated under the laws of any of the European jurisdictions and under the laws of Northern Ireland and Scotland;

| (b) | The Bond Market Association Master Repurchase Agreement for operations with counterparties organised or incorporated under US federal or state laws; and |
| --- | --- |

(b)

The Bond Market Association Master Repurchase Agreement for operations with counterparties organised or incorporated under US federal or state laws; and

| (c) | The TBMA/ISMA Global Master Repurchase Agreement (2000 version) for operations with counterparties organised or incorporated under the laws of any jurisdiction other than those listed in subparagraphs (a) or (b). |
| --- | --- |

(c)

The TBMA/ISMA Global Master Repurchase Agreement (2000 version) for operations with counterparties organised or incorporated under the laws of any jurisdiction other than those listed in subparagraphs (a) or (b).

| 2. | All over-the-counter derivatives operations involving the ECB's foreign reserve assets must be documented using the following standard agreements, in such form as may be approved or amended by the ECB from time to time:






  (a) | The FBE Master Agreement for Financial Transactions (Edition 2004) for operations with counterparties organised or incorporated under the laws of any of the European jurisdictions; |
| --- | --- | --- |

2.

All over-the-counter derivatives operations involving the ECB's foreign reserve assets must be documented using the following standard agreements, in such form as may be approved or amended by the ECB from time to time:

(a)

The FBE Master Agreement for Financial Transactions (Edition 2004) for operations with counterparties organised or incorporated under the laws of any of the European jurisdictions;

| (b) | The 1992 International Swaps and Derivatives Association Master Agreement (Multicurrency — cross-border, New York law version) for operations with counterparties organised or incorporated under US federal or state laws; and |
| --- | --- |

(b)

The 1992 International Swaps and Derivatives Association Master Agreement (Multicurrency — cross-border, New York law version) for operations with counterparties organised or incorporated under US federal or state laws; and

| (c) | The 1992 International Swaps and Derivatives Association Master Agreement (Multicurrency — cross-border, English law version) for operations with counterparties organised or incorporated under the laws of any jurisdiction other than those listed in subparagraphs (a) or (b). |
| --- | --- |

(c)

The 1992 International Swaps and Derivatives Association Master Agreement (Multicurrency — cross-border, English law version) for operations with counterparties organised or incorporated under the laws of any jurisdiction other than those listed in subparagraphs (a) or (b).

| 3. | All deposits involving the ECB's foreign reserve assets with counterparties which: (i) are eligible for collateralised operations as described in paragraph 1 and/or over-the-counter derivatives operations as described in paragraph 2, and (ii) are organised or incorporated under the laws of any of the European jurisdictions, except Ireland, must be documented using the FBE Master Agreement for Financial Transactions (Edition 2004), in such form as may be approved or amended by the ECB from time to time. |
| --- | --- |

3.

All deposits involving the ECB's foreign reserve assets with counterparties which: (i) are eligible for collateralised operations as described in paragraph 1 and/or over-the-counter derivatives operations as described in paragraph 2, and (ii) are organised or incorporated under the laws of any of the European jurisdictions, except Ireland, must be documented using the FBE Master Agreement for Financial Transactions (Edition 2004), in such form as may be approved or amended by the ECB from time to time.

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ANNEX II

ECB ANNEX (1)

This Annex is to be annexed to and form an integral part of any standard agreement, except the FBE Master Agreement for Financial Transactions (Edition 2004), under which collateralised operations (including without limitation repurchase agreements, reverse repurchase agreements, buy/sell back agreements, sell/buy back agreements, securities lending agreements and triparty repo arrangements) or over-the-counter derivatives operations involving the ECB's foreign reserve assets are conducted in accordance with Article 3(3) of this Guideline.

| 1. | The provisions of this Annex shall be supplemental terms and conditions applying to [name the standard agreement to which this Annex applies] dated [date of agreement] (the ‘Agreement’) between the European Central Bank (the ‘ECB’) and [name of counterparty] (the ‘Counterparty’). The provisions of this Annex shall be annexed to, incorporated in and form an integral part of the Agreement. If and to the extent that any provisions of the Agreement (other than the provisions of this Annex) or the ECB Master Netting Agreement dated as of [date] (the ‘Master Netting Agreement’) between the ECB and the Counterparty, including any other supplemental terms and conditions, annex or schedule to the Agreement, contain provisions inconsistent with or to the same or similar effect as the provisions of this Annex, the provisions of this Annex shall prevail and apply in place of those provisions. |
| --- | --- |

1.

The provisions of this Annex shall be supplemental terms and conditions applying to [name the standard agreement to which this Annex applies] dated [date of agreement] (the ‘Agreement’) between the European Central Bank (the ‘ECB’) and [name of counterparty] (the ‘Counterparty’). The provisions of this Annex shall be annexed to, incorporated in and form an integral part of the Agreement. If and to the extent that any provisions of the Agreement (other than the provisions of this Annex) or the ECB Master Netting Agreement dated as of [date] (the ‘Master Netting Agreement’) between the ECB and the Counterparty, including any other supplemental terms and conditions, annex or schedule to the Agreement, contain provisions inconsistent with or to the same or similar effect as the provisions of this Annex, the provisions of this Annex shall prevail and apply in place of those provisions.

| 2. | Except as required by law or regulation, the Counterparty agrees that it shall keep confidential, and under no circumstances disclose to a third party, any information or advice furnished by the ECB or any information concerning the ECB obtained by the Counterparty as a result of it being a party to the Agreement, including without limitation information regarding the existence or terms of the Agreement (including this Annex) or the relationship between the Counterparty and the ECB created thereby, nor shall the Counterparty use the name of the ECB in any advertising or promotional material. |
| --- | --- |

2.

Except as required by law or regulation, the Counterparty agrees that it shall keep confidential, and under no circumstances disclose to a third party, any information or advice furnished by the ECB or any information concerning the ECB obtained by the Counterparty as a result of it being a party to the Agreement, including without limitation information regarding the existence or terms of the Agreement (including this Annex) or the relationship between the Counterparty and the ECB created thereby, nor shall the Counterparty use the name of the ECB in any advertising or promotional material.

| 3. | The Counterparty agrees to notify the ECB in writing as soon as reasonably practicable of: (i) any consolidation or amalgamation with, or merger with or into, or transfer of all or substantially all of its assets to, another entity; (ii) the appointment of any liquidator, receiver, administrator or analogous officer or the commencement of any procedure for the winding-up or reorganisation of the Counterparty or any other analogous procedure; or (iii) a change in the Counterparty's name. |
| --- | --- |

3.

The Counterparty agrees to notify the ECB in writing as soon as reasonably practicable of: (i) any consolidation or amalgamation with, or merger with or into, or transfer of all or substantially all of its assets to, another entity; (ii) the appointment of any liquidator, receiver, administrator or analogous officer or the commencement of any procedure for the winding-up or reorganisation of the Counterparty or any other analogous procedure; or (iii) a change in the Counterparty's name.

| 4. | There shall be no waiver by the ECB of immunity from suit or the jurisdiction of any court, or any relief against the ECB by way of injunction, order for specific performance or for recovery of any property of the ECB or attachment of its assets (whether before or after judgment), in every case to the fullest extent permitted by applicable law. |
| --- | --- |

4.

There shall be no waiver by the ECB of immunity from suit or the jurisdiction of any court, or any relief against the ECB by way of injunction, order for specific performance or for recovery of any property of the ECB or attachment of its assets (whether before or after judgment), in every case to the fullest extent permitted by applicable law.

| 5. | There shall not apply in relation to the ECB any event of default or other provision of any kind in which reference is made to the bankruptcy, insolvency or other analogous event of the ECB. |
| --- | --- |

5.

There shall not apply in relation to the ECB any event of default or other provision of any kind in which reference is made to the bankruptcy, insolvency or other analogous event of the ECB.

| 6. | The Counterparty agrees that it has entered into the Agreement (including this Annex) as principal and not as agent for any other entity and that it shall enter into all transactions as principal. |
| --- | --- |

6.

The Counterparty agrees that it has entered into the Agreement (including this Annex) as principal and not as agent for any other entity and that it shall enter into all transactions as principal.

---

(1)  This Annex has been drawn up in English and is incorporated into master agreements drawn up in English which are governed by English or New York law. The translation of this Annex into other languages is for illustrative purposes only and is not legally binding.

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ANNEX III

INDEX

Annex IIIa

Master Netting Agreement governed by English law and drafted in the English language for use with all counterparties except counterparties:

| (i) | incorporated in the United States of America, or |
| --- | --- |

(i)

incorporated in the United States of America, or

| (ii) | incorporated in France and Germany which are eligible only for deposits, or |
| --- | --- |

(ii)

incorporated in France and Germany which are eligible only for deposits, or

| (iii) | with which the ECB has signed an FBE Master Agreement for Financial Transactions (Edition 2004) and which are organised or incorporated under the laws of any of the European jurisdictions, except Ireland. |
| --- | --- |

(iii)

with which the ECB has signed an FBE Master Agreement for Financial Transactions (Edition 2004) and which are organised or incorporated under the laws of any of the European jurisdictions, except Ireland.

Annex IIIb

Master Netting Agreement governed by French law: for use with counterparties incorporated in France which are eligible only for deposits; drafted in the French language.

Annex IIIc

Master Netting Agreement governed by German law: for use with counterparties incorporated in Germany which are eligible only for deposits; drafted in the German language.

Annex IIId

Master Netting Agreement governed by New York law: for use with counterparties incorporated in the United States of America; drafted in the English language.

ANNEX IIIa

Master Netting Agreement governed by English law

MASTER NETTING AGREEMENT

Dated:

Between:

European Central Bank, Kaiserstrasse 29, D-60311 Frankfurt am Main, Germany (hereinafter referred to as the ‘ECB’), and

[Counterparty] whose [address] [registered place of business] is at [address] (hereinafter referred to as the ‘Counterparty’)

1.   Scope of agreement

| 1.1 | The purpose of this Agreement (hereinafter referred to as the ‘Agreement’) is to ensure that the ECB is able to net all existing positions under all outstanding transactions made between the ECB and the Counterparty, regardless of any agent or agents authorised to act on behalf of the ECB through whom the transactions giving rise to those positions may have been effected, including the central bank of any Member State of the European Union which has adopted the euro as its currency, and regardless of which office (including the head office and all branches) of the Counterparty may be involved in such transactions, and after taking into account the effect of any existing netting provisions in master or other agreements between the ECB and the Counterparty and/or provisions of mandatory law that operate with similar effect that may apply to certain of such transactions. |
| --- | --- |

1.1

The purpose of this Agreement (hereinafter referred to as the ‘Agreement’) is to ensure that the ECB is able to net all existing positions under all outstanding transactions made between the ECB and the Counterparty, regardless of any agent or agents authorised to act on behalf of the ECB through whom the transactions giving rise to those positions may have been effected, including the central bank of any Member State of the European Union which has adopted the euro as its currency, and regardless of which office (including the head office and all branches) of the Counterparty may be involved in such transactions, and after taking into account the effect of any existing netting provisions in master or other agreements between the ECB and the Counterparty and/or provisions of mandatory law that operate with similar effect that may apply to certain of such transactions.

| 1.2 | In this Agreement, a ‘netting agreement’ means any agreement for the time being in effect between the parties (and including, without limitation, this Agreement and agreements of the kind listed in Appendix 1 of this Agreement), including such modifications and additions thereto as may be agreed between the ECB and the Counterparty (hereinafter referred to as the ‘parties’) from time to time, which contains provisions to the effect that, should any event of default as defined for the purposes of such agreement occur, there may be an early termination, liquidation, closing-out or acceleration of transactions or obligations under transactions or any analogous event (a ‘default termination’) and the respective obligations of the parties under such agreement may be combined, aggregated or set-off against each other so as to produce a single net balance payable by one party to the other. |
| --- | --- |

1.2

In this Agreement, a ‘netting agreement’ means any agreement for the time being in effect between the parties (and including, without limitation, this Agreement and agreements of the kind listed in Appendix 1 of this Agreement), including such modifications and additions thereto as may be agreed between the ECB and the Counterparty (hereinafter referred to as the ‘parties’) from time to time, which contains provisions to the effect that, should any event of default as defined for the purposes of such agreement occur, there may be an early termination, liquidation, closing-out or acceleration of transactions or obligations under transactions or any analogous event (a ‘default termination’) and the respective obligations of the parties under such agreement may be combined, aggregated or set-off against each other so as to produce a single net balance payable by one party to the other.

2.   General

| 2.1 | All transactions of whatever nature (hereinafter referred to as ‘transactions’) entered into between the parties at any time after the date of this Agreement shall be governed by this Agreement, unless the parties specifically agree otherwise. |
| --- | --- |

2.1

All transactions of whatever nature (hereinafter referred to as ‘transactions’) entered into between the parties at any time after the date of this Agreement shall be governed by this Agreement, unless the parties specifically agree otherwise.

| 2.2 | The parties acknowledge that the terms of this Agreement, all transactions governed by this Agreement, any amendments to the terms of such transactions, and the single net balance payable under any netting agreement constitute a single business and contractual relationship and arrangement. |
| --- | --- |

2.2

The parties acknowledge that the terms of this Agreement, all transactions governed by this Agreement, any amendments to the terms of such transactions, and the single net balance payable under any netting agreement constitute a single business and contractual relationship and arrangement.

| 2.3 | The Counterparty has entered into this Agreement as principal and represents and warrants that it has entered and shall enter into all transactions as principal. |
| --- | --- |

2.3

The Counterparty has entered into this Agreement as principal and represents and warrants that it has entered and shall enter into all transactions as principal.

| 2.4 | This Agreement is supplemental to the netting agreements entered into between the parties prior to the date of this Agreement, and all further netting agreements and transactions entered into between the parties after the date of this Agreement shall be supplemental to this Agreement. |
| --- | --- |

2.4

This Agreement is supplemental to the netting agreements entered into between the parties prior to the date of this Agreement, and all further netting agreements and transactions entered into between the parties after the date of this Agreement shall be supplemental to this Agreement.

3.   Base currency

The base currency for the purposes of this Agreement shall be the US dollar or, at the ECB's option, any other currency. Wherever it is necessary in accordance with the terms of this Agreement to convert amounts into the base currency, such amounts shall be converted at the daily reference rate published by the ECB for the currency to be converted into the base currency or, in the absence of such reference rate, at the rate of exchange at which the ECB can buy or sell, as appropriate, such amounts with or against the base currency on such day, all as determined by the ECB.

4.   Cross acceleration

Should any default termination occur under any netting agreement (including under Appendix 2 of this Agreement), then the ECB shall have the right to declare, by written notice to the Counterparty, that a default termination has occurred under each other netting agreement in respect of which default termination has not occurred in accordance with the provisions thereof.

5.   Global netting

| 5.1 | Should a default termination occur, the ECB shall, as soon as is reasonably practicable, take an account of what is due from each party to the other under each netting agreement (including under Appendix 2 of this Agreement) in respect of which default termination has occurred and aggregate the sums due from each party to the other under such netting agreements (including under Appendix 2 of this Agreement), in every case in or converted into the base currency, and only the net balance of the account shall be payable by the party owing the larger aggregate sum. |
| --- | --- |

5.1

Should a default termination occur, the ECB shall, as soon as is reasonably practicable, take an account of what is due from each party to the other under each netting agreement (including under Appendix 2 of this Agreement) in respect of which default termination has occurred and aggregate the sums due from each party to the other under such netting agreements (including under Appendix 2 of this Agreement), in every case in or converted into the base currency, and only the net balance of the account shall be payable by the party owing the larger aggregate sum.

| 5.2 | Clause 5.1 shall continue to operate to the extent possible notwithstanding the unenforceability under applicable law of any provisions contained in any netting agreement (including under Appendix 2 of this Agreement). |
| --- | --- |

5.2

Clause 5.1 shall continue to operate to the extent possible notwithstanding the unenforceability under applicable law of any provisions contained in any netting agreement (including under Appendix 2 of this Agreement).

6.   Notices and other communications

All notices, instructions and other communications to be given under this Agreement shall be effective only upon receipt and shall be made in writing (including by electronic means).

7.   Severability

Each provision contained herein (including, without limitation, Appendix 2 of this Agreement) shall be treated as separate from any other provision herein and shall be enforceable notwithstanding the unenforceability of any such other provision.

8.   Non-assignability

The rights and obligations of the Counterparty under this Agreement may not be assigned, charged, pledged or otherwise transferred or dealt with by the Counterparty.

9.   Governing law and jurisdiction

| 9.1 | This Agreement shall be governed by and construed in accordance with English law. |
| --- | --- |

9.1

This Agreement shall be governed by and construed in accordance with English law.

| 9.2 | For the benefit of the ECB, the Counterparty hereby irrevocably submits for all purposes of or in connection with this Agreement to the jurisdiction of the District Court (Landgericht) of Frankfurt am Main, Germany. Nothing in this clause 9 shall limit the right of the ECB to take proceedings before the courts of any other country of competent jurisdiction. |
| --- | --- |

9.2

For the benefit of the ECB, the Counterparty hereby irrevocably submits for all purposes of or in connection with this Agreement to the jurisdiction of the District Court (Landgericht) of Frankfurt am Main, Germany. Nothing in this clause 9 shall limit the right of the ECB to take proceedings before the courts of any other country of competent jurisdiction.

Image

(In case of Luxembourg counterparties:)

In addition to clause 9 of this Agreement the parties agree that for purpose of Article 1 of the Protocol annexed to the Convention on Jurisdiction and the Enforcement of Judgements in Civil and Commercial Matters, signed in Brussels on 27 September 1998 and without prejudice to the foregoing execution of this Agreement by the parties hereto, [Luxembourg Counterparty] expressly and specifically confirms its agreement to the provisions of clause 9 of this Agreement, stipulating that the District Court (Landgericht) of Frankfurt am Main shall have jurisdiction to hear and determine any suit, action or proceeding, and to settle any disputes, which may arise out of or in connection with this Agreement and, for such purposes, irrevocably submits to the jurisdiction of such courts.

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Appendix 1

Netting agreements (1)

| 1. | FBE Master Agreement for Financial Transactions (Edition 2004) |
| --- | --- |

1.

FBE Master Agreement for Financial Transactions (Edition 2004)

| 2. | ISDA Master Agreement (Multi-currency — Cross border 1992) |
| --- | --- |

2.

ISDA Master Agreement (Multi-currency — Cross border 1992)

| 3. | TBMA/ISMA Global Master Repurchase Agreement (2000 version) |
| --- | --- |

3.

TBMA/ISMA Global Master Repurchase Agreement (2000 version)

| 4. | The Bond Market Association Master Repurchase Agreement. |
| --- | --- |

4.

The Bond Market Association Master Repurchase Agreement.

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(1)  This documentation is maintained by the ECB Legal Services and the legal departments of the national central banks.

Appendix 2

Transactions not subject to any netting agreement

| 1. | The provisions of this Appendix apply to transactions entered into between the parties that are not effectively subject to any other netting agreement. |
| --- | --- |

1.

The provisions of this Appendix apply to transactions entered into between the parties that are not effectively subject to any other netting agreement.

| 2. | Should:






  (a) | a default termination occur under any netting agreement, or |
| --- | --- | --- |

2.

Should:

(a)

a default termination occur under any netting agreement, or

| (b) | an event that is defined as an event of default or other analogous event under any netting agreement occur, which event would, assuming there were outstanding transactions under any such netting agreement, result in, or entitle the ECB to take steps which would result in, a default termination under such netting agreement,
  (any such event under (a) or (b) above is referred to in this Appendix as an ‘event of default’),
  then all transactions to which this Appendix applies (but not less than all, unless any such transaction may not be so closed out under applicable law) under which obligations have or would otherwise have fallen due by or after the date of such event of default (the ‘close out date’) shall be liquidated and closed-out as described under paragraphs 3 and 4 of this Appendix, and the ECB shall, without prejudice to paragraphs 3 and 4 of this Appendix, not be obliged to make any further payments or deliveries under any such transactions. |
| --- | --- |

(b)

an event that is defined as an event of default or other analogous event under any netting agreement occur, which event would, assuming there were outstanding transactions under any such netting agreement, result in, or entitle the ECB to take steps which would result in, a default termination under such netting agreement,

(any such event under (a) or (b) above is referred to in this Appendix as an ‘event of default’),

then all transactions to which this Appendix applies (but not less than all, unless any such transaction may not be so closed out under applicable law) under which obligations have or would otherwise have fallen due by or after the date of such event of default (the ‘close out date’) shall be liquidated and closed-out as described under paragraphs 3 and 4 of this Appendix, and the ECB shall, without prejudice to paragraphs 3 and 4 of this Appendix, not be obliged to make any further payments or deliveries under any such transactions.

| 3. | Should liquidation and close-out under paragraph 2 of this Appendix occur, the ECB shall, as soon as is reasonably practicable, take an account of what is due from each party to the other, including, as necessary, determining in respect of each transaction the ECB's total gain or loss, as the case may be, resulting from the liquidation and close-out of such transaction as at the date of such liquidation and close-out, in every case in or converted into the base currency. The ECB shall then aggregate such gains and losses and only the balance of the account shall be payable by the Counterparty, if the aggregate losses exceed the aggregate gains, or by the ECB, if the aggregate gains exceed the aggregate losses. |
| --- | --- |

3.

Should liquidation and close-out under paragraph 2 of this Appendix occur, the ECB shall, as soon as is reasonably practicable, take an account of what is due from each party to the other, including, as necessary, determining in respect of each transaction the ECB's total gain or loss, as the case may be, resulting from the liquidation and close-out of such transaction as at the date of such liquidation and close-out, in every case in or converted into the base currency. The ECB shall then aggregate such gains and losses and only the balance of the account shall be payable by the Counterparty, if the aggregate losses exceed the aggregate gains, or by the ECB, if the aggregate gains exceed the aggregate losses.

| 4. | In determining in respect of each transaction the ECB's total gain or loss, the ECB shall, subject to applicable law, use a commercially reasonable method of calculation which (a) is based on, to the extent practicable and available, quotations from at least four leading dealers in the relevant market operating in the same financial centre, and (b) takes into account, where applicable, the liquidation and close-out of such transaction earlier than its scheduled value date or delivery date. |
| --- | --- |

4.

In determining in respect of each transaction the ECB's total gain or loss, the ECB shall, subject to applicable law, use a commercially reasonable method of calculation which (a) is based on, to the extent practicable and available, quotations from at least four leading dealers in the relevant market operating in the same financial centre, and (b) takes into account, where applicable, the liquidation and close-out of such transaction earlier than its scheduled value date or delivery date.

| 5. | The parties agree that the calculation of the net sum under paragraphs 3 and 4 of this Appendix is a reasonable pre-estimate of losses suffered. |
| --- | --- |

5.

The parties agree that the calculation of the net sum under paragraphs 3 and 4 of this Appendix is a reasonable pre-estimate of losses suffered.

ANNEX IIIb

Master Netting Agreement governed by French law

CONVENTION-CADRE DE COMPENSATION

Date:

Entre:

La Banque centrale européenne, Kaiserstrasse 29, D-60311 Francfort-sur-le-Main, Allemagne (ci-après dénommée la ‘BCE’) et

(ci-après dénommée la ‘Contrepartie’)

1.   Champ d'application de la convention

| 1.1. | La présente Convention (ci-après dénommée la ‘Convention’) a pour objet de permettre à la BCE de compenser l'ensemble des positions existantes dans le cadre de l'ensemble des transactions en cours effectuées entre la BCE et la Contrepartie, sans distinction de l'agent ou des agents autorisés à agir pour le compte de la BCE par l'intermédiaire duquel ou desquels les transactions génératrices de ces positions ont pu être effectuées, y compris la banque centrale de tout Etat membre de l'Union européenne ayant adopté l'euro comme monnaie nationale, et sans distinction de l'établissement (y compris le siège social et l'ensemble des succursales) de la Contrepartie impliqué dans ces transactions, et après prise en considération de l'incidence de toutes les dispositions existantes relatives à la compensation qui figurent dans la convention-cadre ou dans les autres conventions conclues entre la BCE et la Contrepartie et/ou des dispositions de la législation applicable ayant un effet similaire et susceptibles de s'appliquer à certaines de ces transactions. |
| --- | --- |

1.1.

La présente Convention (ci-après dénommée la ‘Convention’) a pour objet de permettre à la BCE de compenser l'ensemble des positions existantes dans le cadre de l'ensemble des transactions en cours effectuées entre la BCE et la Contrepartie, sans distinction de l'agent ou des agents autorisés à agir pour le compte de la BCE par l'intermédiaire duquel ou desquels les transactions génératrices de ces positions ont pu être effectuées, y compris la banque centrale de tout Etat membre de l'Union européenne ayant adopté l'euro comme monnaie nationale, et sans distinction de l'établissement (y compris le siège social et l'ensemble des succursales) de la Contrepartie impliqué dans ces transactions, et après prise en considération de l'incidence de toutes les dispositions existantes relatives à la compensation qui figurent dans la convention-cadre ou dans les autres conventions conclues entre la BCE et la Contrepartie et/ou des dispositions de la législation applicable ayant un effet similaire et susceptibles de s'appliquer à certaines de ces transactions.

| 1.2. | Dans la présente Convention, on entend par ‘convention de compensation’ toute convention en vigueur entre les parties (y compris, sans restriction, la présente Convention et les conventions de l'espèce énumérées dans l'additif 1 de la présente Convention), y compris les modifications et avenants aux textes susceptibles d'être convenus, s'il y a lieu, entre la BCE et la Contrepartie (ci-après dénommées les ‘parties’), qui comporte des dispositions prévoyant, lors de la survenance d'un cas de défaillance tel que défini dans le cadre de cette convention, une possibilité de résiliation, d'exigibilité anticipées ou de ‘close out’ des transactions ou des obligations afférentes aux transactions ou de tout événement analogue (une ‘résiliation pour défaillance’), les obligations respectives des parties dans le cadre de cette convention pouvant dès lors être regroupées, globalisées ou compensées réciproquement de manière à donner lieu à un solde net unique payable par l'une des parties à l'autre. |
| --- | --- |

1.2.

Dans la présente Convention, on entend par ‘convention de compensation’ toute convention en vigueur entre les parties (y compris, sans restriction, la présente Convention et les conventions de l'espèce énumérées dans l'additif 1 de la présente Convention), y compris les modifications et avenants aux textes susceptibles d'être convenus, s'il y a lieu, entre la BCE et la Contrepartie (ci-après dénommées les ‘parties’), qui comporte des dispositions prévoyant, lors de la survenance d'un cas de défaillance tel que défini dans le cadre de cette convention, une possibilité de résiliation, d'exigibilité anticipées ou de ‘close out’ des transactions ou des obligations afférentes aux transactions ou de tout événement analogue (une ‘résiliation pour défaillance’), les obligations respectives des parties dans le cadre de cette convention pouvant dès lors être regroupées, globalisées ou compensées réciproquement de manière à donner lieu à un solde net unique payable par l'une des parties à l'autre.

2.   Dispositions d'ordre général

| 2.1. | L'ensemble des transactions de toute nature (ci-après dénommées ‘transactions’) conclues entre les parties à tout moment après la date de la présente Convention sera régi par la présente Convention, sauf si les parties en décident spécifiquement autrement. |
| --- | --- |

2.1.

L'ensemble des transactions de toute nature (ci-après dénommées ‘transactions’) conclues entre les parties à tout moment après la date de la présente Convention sera régi par la présente Convention, sauf si les parties en décident spécifiquement autrement.

| 2.2. | Les parties reconnaissent que les termes de la présente Convention, l'ensemble des transactions régies par elle, toutes les modifications apportées aux termes de ces transactions et le solde net unique payable dans le cadre de toute convention de compensation constituent une relation et un accord professionnels et contractuels uniques. |
| --- | --- |

2.2.

Les parties reconnaissent que les termes de la présente Convention, l'ensemble des transactions régies par elle, toutes les modifications apportées aux termes de ces transactions et le solde net unique payable dans le cadre de toute convention de compensation constituent une relation et un accord professionnels et contractuels uniques.

| 2.3. | La Contrepartie a conclu cette Convention en son nom propre; elle déclare et atteste qu'elle a conclu et conclura toutes les transactions en son nom propre. |
| --- | --- |

2.3.

La Contrepartie a conclu cette Convention en son nom propre; elle déclare et atteste qu'elle a conclu et conclura toutes les transactions en son nom propre.

| 2.4. | La présente Convention complète les conventions antérieures de compensation conclues antérieurement entre les parties; toutes les autres conventions de l'espèce et transactions qui seront conclues ultérieurement entre les parties compléteront la présente Convention. |
| --- | --- |

2.4.

La présente Convention complète les conventions antérieures de compensation conclues antérieurement entre les parties; toutes les autres conventions de l'espèce et transactions qui seront conclues ultérieurement entre les parties compléteront la présente Convention.

3.   Devise de référence

La devise de référence utilisée dans le cadre de cette Convention sera le dollar des Etats-Unis ou, au choix de la BCE, une autre devise. Dans les cas où il sera nécessaire, conformément aux termes de la présente Convention, de convertir les montants dans la devise de référence, la conversion s'effectuera au taux de référence quotidien publié par la BCE pour la devise à convertir dans la devise de référence ou, à défaut de ce taux de référence, au taux de change auquel la BCE peut acheter ou vendre, selon le cas, ces montants avec ou contre la devise de référence ce même jour, selon les conditions définies par la BCE.

4.   Clause de défaillance croisée

Lors de la survenance d'une résiliation pour défaillance dans le cadre d'une convention de compensation (y compris dans le cadre de l'additif 2 de la présente Convention), la BCE sera habilitée à prononcer, par notification écrite à la Contrepartie, la résiliation pour défaillance de chacune des autres conventions de compensation pour lesquelles il n'y a pas eu résiliation pour défaillance dans les conditions prévues par les dispositions précitées.

5.   Compensation globale

| 5.1. | Lors de la survenance d'une résiliation pour défaillance, la BCE comptabilisera dans les meilleurs délais les montants dus par chacune des parties à l'autre au titre de chaque convention de compensation (y compris dans le cadre de l'additif 2 de la présente Convention) pour laquelle est intervenue une résiliation pour défaillance et globalisera les sommes dues par chaque partie à l'autre au titre de ces conventions de compensation (y compris dans le cadre de l'additif 2 de la présente Convention) libellées ou converties dans tous les cas dans la devise de référence, seul le solde net étant payable par la partie débitrice du montant brut le plus élevé. |
| --- | --- |

5.1.

Lors de la survenance d'une résiliation pour défaillance, la BCE comptabilisera dans les meilleurs délais les montants dus par chacune des parties à l'autre au titre de chaque convention de compensation (y compris dans le cadre de l'additif 2 de la présente Convention) pour laquelle est intervenue une résiliation pour défaillance et globalisera les sommes dues par chaque partie à l'autre au titre de ces conventions de compensation (y compris dans le cadre de l'additif 2 de la présente Convention) libellées ou converties dans tous les cas dans la devise de référence, seul le solde net étant payable par la partie débitrice du montant brut le plus élevé.

| 5.2. | La clause 5.1 restera en vigueur dans la mesure du possible nonobstant le caractère inapplicable, en vertu de la loi en vigueur, de toute disposition pouvant être contenues dans une convention de compensation (y compris dans le cadre de l'additif 2 de la présente Convention). |
| --- | --- |

5.2.

La clause 5.1 restera en vigueur dans la mesure du possible nonobstant le caractère inapplicable, en vertu de la loi en vigueur, de toute disposition pouvant être contenues dans une convention de compensation (y compris dans le cadre de l'additif 2 de la présente Convention).

6.   Notifications et autres communications

L'ensemble des notifications, instructions et autres communications à donner dans le cadre de la présente Convention ne prendront effet qu'à la date de leur réception et seront adressées par écrit (y compris par les moyens électroniques).

7.   Gestion séparée

Chacune des dispositions de la présente Convention (y compris, sans restriction, l'additif 2 de ladite Convention) sera traitée isolément des autres dispositions et sera applicable nonobstant le caractère inapplicable de ces autres dispositions.

8.   Incessibilité

Les droits et obligations de la Contrepartie dans le cadre de la présente Convention ne peuvent être cédés, transférés ou autrement négociés par la Contrepartie.

9.   Loi applicable, attribution de compétences

| 9.1. | La présente Convention sera soumise au droit français et interprétée selon ledit droit. |
| --- | --- |

9.1.

La présente Convention sera soumise au droit français et interprétée selon ledit droit.

| 9.2. | Dans l'intérêt de la BCE, la Contrepartie soumet irrévocablement par la présente Convention tous les cas afférents à celle-ci ou s'y rapportant à la compétence de la juridiction du tribunal (Landgericht) de Francfort-sur-le-Main, Allemagne. Aucune disposition de cette clause 9 ne limitera le droit de la BCE d'entamer une procédure judiciaire devant les tribunaux compétents d'un autre pays. |
| --- | --- |

9.2.

Dans l'intérêt de la BCE, la Contrepartie soumet irrévocablement par la présente Convention tous les cas afférents à celle-ci ou s'y rapportant à la compétence de la juridiction du tribunal (Landgericht) de Francfort-sur-le-Main, Allemagne. Aucune disposition de cette clause 9 ne limitera le droit de la BCE d'entamer une procédure judiciaire devant les tribunaux compétents d'un autre pays.

Image

Appendice 1

Conventions de compensation

| 1. | FBE Master Agreement for Financial Transactions (Edition 2004) |
| --- | --- |

1.

FBE Master Agreement for Financial Transactions (Edition 2004)

| 2. | ISDA Master Agreement (Multi-currency — Cross border 1992) |
| --- | --- |

2.

ISDA Master Agreement (Multi-currency — Cross border 1992)

| 3. | TBMA/ISMA Global Master Repurchase Agreement (2000 version) |
| --- | --- |

3.

TBMA/ISMA Global Master Repurchase Agreement (2000 version)

| 4. | The Bond Market Association Master Repurchase Agreement. |
| --- | --- |

4.

The Bond Market Association Master Repurchase Agreement.

Appendice 2

Transactions non soumises à une convention de compensation

| 1. | Les dispositions du présent Additif s'appliquent aux transactions conclues entre les parties qui ne sont pas effectivement soumises à une autre convention de compensation. |
| --- | --- |

1.

Les dispositions du présent Additif s'appliquent aux transactions conclues entre les parties qui ne sont pas effectivement soumises à une autre convention de compensation.

| 2. | Lors de la survenance:






  (a) | d'une résiliation pour défaillance dans le cadre d'une convention de compensation ou |
| --- | --- | --- |

2.

Lors de la survenance:

(a)

d'une résiliation pour défaillance dans le cadre d'une convention de compensation ou

| (b) | d'un événement défini comme étant un cas de défaillance ou un événement analogue dans le cadre d'une quelconque convention de compensation, lequel événement, dans l'hypothèse où des transactions seraient en cours au titre de cette convention de compensation, amènerait ou habiliterait la BCE à prendre des mesures qui entraîneraient une résiliation pour défaillance dans le cadre de ladite convention,
  (les événements prévus en (a) ou en (b) étant dénommés dans le présent Additif ‘cas de défaillance’),
  l'ensemble des transactions concernées par le présent Additif (sans exception, sauf dans le cas où une transaction ne peut faire l'objet d'une résiliation dans ces conditions aux termes de la loi applicable) dans le cadre desquelles les obligations sont ou seraient arrivées à échéance à la date ou après la date de survenance de ce cas de défaillance (la ‘date de résiliation’) pourront être résiliées par notification écrite de la BCE à la Contrepartie dans les conditions prévues aux paragraphes 3 et 4 du présent Additif et la BCE ne sera pas tenue d'effectuer, sans préjudice des paragraphes 3 et 4 du présent Additif, d'effectuer d'autres paiements ou livraisons au titre de ces transactions. |
| --- | --- |

(b)

d'un événement défini comme étant un cas de défaillance ou un événement analogue dans le cadre d'une quelconque convention de compensation, lequel événement, dans l'hypothèse où des transactions seraient en cours au titre de cette convention de compensation, amènerait ou habiliterait la BCE à prendre des mesures qui entraîneraient une résiliation pour défaillance dans le cadre de ladite convention,

(les événements prévus en (a) ou en (b) étant dénommés dans le présent Additif ‘cas de défaillance’),

l'ensemble des transactions concernées par le présent Additif (sans exception, sauf dans le cas où une transaction ne peut faire l'objet d'une résiliation dans ces conditions aux termes de la loi applicable) dans le cadre desquelles les obligations sont ou seraient arrivées à échéance à la date ou après la date de survenance de ce cas de défaillance (la ‘date de résiliation’) pourront être résiliées par notification écrite de la BCE à la Contrepartie dans les conditions prévues aux paragraphes 3 et 4 du présent Additif et la BCE ne sera pas tenue d'effectuer, sans préjudice des paragraphes 3 et 4 du présent Additif, d'effectuer d'autres paiements ou livraisons au titre de ces transactions.

| 3. | En cas de résiliation selon les termes du paragraphe 2 du présent Additif, la BCE comptabilisera dans les meilleurs délais les sommes dues par chacune des parties à l'autre, notamment, le cas échéant, en déterminant pour chaque transaction la perte ou le gain total de la BCE résultant de la résiliation de ladite transaction à la date de résiliation, le montant étant dans tous les cas libellé ou converti dans la devise de référence. La BCE globalisera ensuite ces gains et pertes et seul le solde net sera payable par la Contrepartie si le total des pertes excède celui des gains, ou par la BCE si le total des gains excède celui des pertes. |
| --- | --- |

3.

En cas de résiliation selon les termes du paragraphe 2 du présent Additif, la BCE comptabilisera dans les meilleurs délais les sommes dues par chacune des parties à l'autre, notamment, le cas échéant, en déterminant pour chaque transaction la perte ou le gain total de la BCE résultant de la résiliation de ladite transaction à la date de résiliation, le montant étant dans tous les cas libellé ou converti dans la devise de référence. La BCE globalisera ensuite ces gains et pertes et seul le solde net sera payable par la Contrepartie si le total des pertes excède celui des gains, ou par la BCE si le total des gains excède celui des pertes.

| 4. | Pour déterminer, dans le cadre de chaque transaction, le montant total du gain ou de la perte de la BCE, celle-ci utilisera, sous réserve de la législation applicable, une méthode de calcul commercialement raisonnable (a) fondée, dans la toute la mesure du possible, sur les cotations fournies par au moins quatre intervenants de premier rang du marché considéré et opérant dans le même centre financier et (b) prenant en compte, le cas échéant, la résiliation de la transaction intervenues antérieurement à la date de valeur ou de livraison prévus. |
| --- | --- |

4.

Pour déterminer, dans le cadre de chaque transaction, le montant total du gain ou de la perte de la BCE, celle-ci utilisera, sous réserve de la législation applicable, une méthode de calcul commercialement raisonnable (a) fondée, dans la toute la mesure du possible, sur les cotations fournies par au moins quatre intervenants de premier rang du marché considéré et opérant dans le même centre financier et (b) prenant en compte, le cas échéant, la résiliation de la transaction intervenues antérieurement à la date de valeur ou de livraison prévus.

| 5. | Les parties conviennent que le calcul de la somme nette aux termes des paragraphes 3 et 4 du présent Additif constituent une estimation raisonnable des pertes encourues. |
| --- | --- |

5.

Les parties conviennent que le calcul de la somme nette aux termes des paragraphes 3 et 4 du présent Additif constituent une estimation raisonnable des pertes encourues.

ANNEX IIIc

Master Netting Agreement governed by German law

Europäische Zentralbank

EZB-Aufrechnungsvertrag

(‘Master Netting Agreement’)

vom:

zwischen

der Europäische Zentralbank, Kaiserstraße 29, D-60311 Frankfurt am Main, Deutschland (im nachfolgenden ‘EZB’) und

............................................................................

(Im nachfolgenden ‘Vertragspartner’)

1.   Anwendungsbereich dieses Vertrages

| 1.1 | Der Zweck dieses Vertrages (im folgenden: ‘Vertrag’) besteht darin, die Verrechnung aller bestehenden Positionen aus allen offenen Geschäften zwischen der EZB und dem Vertragspartner zu ermöglichen. Der Vertrag schließt Geschäfte ein, die die EZB über Stellvertreter (z. B. Teilnehmerzentralbanken) abschließt. Er umfaßt auch ferner alle diejenigen Geschäfte, die über die Hauptverwaltung oder eine unselbständige Zweigniederlassung des Vertragspartners mit der EZB abgeschlossen werden. Der Vertrag berücksichtigt ferner alle sonst zwischen den Parteien bestehenden Rahmenverträge oder sonstigen Vereinbarungen, die Aufrechnungsklauseln enthalten, sowie zwingende gesetzliche Vorschriften mit ähnlichen Wirkungen. |
| --- | --- |

1.1

Der Zweck dieses Vertrages (im folgenden: ‘Vertrag’) besteht darin, die Verrechnung aller bestehenden Positionen aus allen offenen Geschäften zwischen der EZB und dem Vertragspartner zu ermöglichen. Der Vertrag schließt Geschäfte ein, die die EZB über Stellvertreter (z. B. Teilnehmerzentralbanken) abschließt. Er umfaßt auch ferner alle diejenigen Geschäfte, die über die Hauptverwaltung oder eine unselbständige Zweigniederlassung des Vertragspartners mit der EZB abgeschlossen werden. Der Vertrag berücksichtigt ferner alle sonst zwischen den Parteien bestehenden Rahmenverträge oder sonstigen Vereinbarungen, die Aufrechnungsklauseln enthalten, sowie zwingende gesetzliche Vorschriften mit ähnlichen Wirkungen.

| 1.2 | Unter einem Aufrechnungsvertrag (Netting Agreement) im Sinne dieses Vertrages (im folgenden: ‘Aufrechungsvertrag’) sind alle die zwischen den Parteien getroffenen (einschließlich dieses Vertrags sowie der im Anhang 1 zum Vertrag aufgeführten) Vereinbarungen in ihrer jeweiligen Fassung zu verstehen, die Klauseln enthalten, wonach im Fall eines wichtigen Grundes (event of default) insbesondere eine vorzeitige Beendigung eintritt oder eine Kündigung ausgesprochen werden kann (im folgenden: ‘Beendigung oder Kündigung aus wichtigem Grund’); ferner muß dort vereinbart sein, daß infolge einer Beendigung oder Kündigung Geschäfte oder Verpflichtungen fällig bzw. in verrechenbare, fällige Forderungen umgewandelt werden, die anschließend zusammengefaßt, ver- oder aufgerechnet werden mit der Folge, daß lediglich ein einziger Nettosaldo durch eine der beiden Parteien geschuldet wird. |
| --- | --- |

1.2

Unter einem Aufrechnungsvertrag (Netting Agreement) im Sinne dieses Vertrages (im folgenden: ‘Aufrechungsvertrag’) sind alle die zwischen den Parteien getroffenen (einschließlich dieses Vertrags sowie der im Anhang 1 zum Vertrag aufgeführten) Vereinbarungen in ihrer jeweiligen Fassung zu verstehen, die Klauseln enthalten, wonach im Fall eines wichtigen Grundes (event of default) insbesondere eine vorzeitige Beendigung eintritt oder eine Kündigung ausgesprochen werden kann (im folgenden: ‘Beendigung oder Kündigung aus wichtigem Grund’); ferner muß dort vereinbart sein, daß infolge einer Beendigung oder Kündigung Geschäfte oder Verpflichtungen fällig bzw. in verrechenbare, fällige Forderungen umgewandelt werden, die anschließend zusammengefaßt, ver- oder aufgerechnet werden mit der Folge, daß lediglich ein einziger Nettosaldo durch eine der beiden Parteien geschuldet wird.

2.   Allgemeines

| 2.1 | Für alle Geschäfte, die die Parteien nach Unterzeichnung dieses Vertrages tätigen (in folgenden ‘Einzelabschlüsse’), gelten die nachfolgenden Bestimmungen, sofern die Parteien im Einzelabschluß nichts abweichendes vereinbaren. |
| --- | --- |

2.1

Für alle Geschäfte, die die Parteien nach Unterzeichnung dieses Vertrages tätigen (in folgenden ‘Einzelabschlüsse’), gelten die nachfolgenden Bestimmungen, sofern die Parteien im Einzelabschluß nichts abweichendes vereinbaren.

| 2.2 | Die Parteien sind sich darüber einig, daß dieser Vertrag in seiner jeweiligen Fassung, alle Einzelabschlüsse, die von diesem Vertrag erfaßt werden, und die aus Aufrechnungsverträgen resultierenden Nettosalden ein einheitliches Vertragsverhältnis bilden. |
| --- | --- |

2.2

Die Parteien sind sich darüber einig, daß dieser Vertrag in seiner jeweiligen Fassung, alle Einzelabschlüsse, die von diesem Vertrag erfaßt werden, und die aus Aufrechnungsverträgen resultierenden Nettosalden ein einheitliches Vertragsverhältnis bilden.

| 2.3 | Die Vertragsparteien sichern zu, daß sie den Vertrag in eigenem Namen abgeschlossen haben und alle Einzelabschlüsse ebenfalls in eigenem Namen tätigen werden. |
| --- | --- |

2.3

Die Vertragsparteien sichern zu, daß sie den Vertrag in eigenem Namen abgeschlossen haben und alle Einzelabschlüsse ebenfalls in eigenem Namen tätigen werden.

3.   Vertragswährung (‘base currency’)

Vertragswährung ist der US-Dollar oder jede andere Währung, die die Parteien vereinbaren. Die Umrechnung von auf andere Währungen lautenden Beträgen in die Vertragswährung erfolgt jeweils zum täglichen Referenzkurs, den die EZB für die umzurechnende Währung veröffentlicht oder, hilfsweise, zum jeweiligen Marktkurs, zu dem die EZB an diesem Geschäftstag den umzurechnenden Währungsbetrag gegen die Vertragswährung kaufen oder verkaufen kann.

4.   Vertragsübergreifendes Kündigungs- oder Beendigungsrecht aus wichtigem Grund

Sofern die EZB ein Kündigungs- oder Beendigungsrecht aus wichtigem Grund im Rahmen eines Aufrechnungsvertrages (sowie auch gemäß Anhang 2 zu diesem Vertrag) hat, erstreckt sich dieses Recht auch auf jeden anderen Aufrechnungsvertrag, auch wenn nach den dortigen Vereinbarungen ein vergleichbarer Kündigungs- oder Beendigungsgrund noch nicht gegeben ist.

5.   Allumfassende Aufrechnungsvereinbarung (‘global netting’)

| 5.1 | Sollte eine Beendigung oder Kündigung aus wichtigem Grund stattfinden, wird die EZB unverzüglich die aus den jeweiligen Aufrechnungsverträgen (sowie auch aus Anhang 2 zu diesem Vertrag) resultierenden Nettosalden errechnen und diese, nach Umrechnung in die Vertragswährung, zu einer einzigen Forderung oder Verbindlichkeit zusammenfassen mit der Folge, daß nurmehr dieser Betrag zwischen den Parteien geschuldet wird. |
| --- | --- |

5.1

Sollte eine Beendigung oder Kündigung aus wichtigem Grund stattfinden, wird die EZB unverzüglich die aus den jeweiligen Aufrechnungsverträgen (sowie auch aus Anhang 2 zu diesem Vertrag) resultierenden Nettosalden errechnen und diese, nach Umrechnung in die Vertragswährung, zu einer einzigen Forderung oder Verbindlichkeit zusammenfassen mit der Folge, daß nurmehr dieser Betrag zwischen den Parteien geschuldet wird.

| 5.2 | Z. 5.1 gilt ungeachtet dessen, daß Klauseln in Aufrechnungsverträgen (einschl. Anhang 2 zu diesem Vertrag) nach dem jeweils anwendbaren Recht nicht wirksam bzw. nichtig sind. |
| --- | --- |

5.2

Z. 5.1 gilt ungeachtet dessen, daß Klauseln in Aufrechnungsverträgen (einschl. Anhang 2 zu diesem Vertrag) nach dem jeweils anwendbaren Recht nicht wirksam bzw. nichtig sind.

6.   Erklärungen und andere Mitteilungen

Alle Erklärungen, Weisungen und andere Mitteilungen im Rahmen dieses Vertrages sind nur dann wirksam, wenn sie in Schriftform oder in elektronischer Form übermittelt werden und der Gegenseite auch zugegangen sind.

7.   Teilbarkeit

Sollte eine Bestimmung dieses Vertrages (einschließlich des Anhangs 2) ganz oder teilweise unwirksam sein oder werden, bleiben die übrigen Bestimmungen wirksam. An Stelle der unwirksamen Bestimmungen tritt eine wirksame Regelung, die dem wirtschaftlichen Zweck mit der unwirksamen Bestimmung soweit wie möglich Rechnung trägt.

8.   Die Rechte und Pflichten aus dem Vertrag darf der Vertragspartner weder abtreten noch in sonstiger Weise hierüber verfügen.

| 9.1. | Dieser Vertrag unterliegt dem Recht der Bundesrepublik Deutschland. |
| --- | --- |

9.1.

Dieser Vertrag unterliegt dem Recht der Bundesrepublik Deutschland.

| 9.2 | Nicht ausschließlicher Gerichtsstand ist Frankfurt am Main. |
| --- | --- |

9.2

Nicht ausschließlicher Gerichtsstand ist Frankfurt am Main.

Image

Anhang 1

Liste der Aufrechnungsverträge

| 1. | FBE Master Agreement for Financial Transactions (Edition 2004) |
| --- | --- |

1.

FBE Master Agreement for Financial Transactions (Edition 2004)

| 2. | ISDA Master Agreement (Multi-currency — Cross border 1992) |
| --- | --- |

2.

ISDA Master Agreement (Multi-currency — Cross border 1992)

| 3. | TBMA/ISMA Global Master Repurchase Agreement (2000 version) |
| --- | --- |

3.

TBMA/ISMA Global Master Repurchase Agreement (2000 version)

| 4. | The Bond Market Association Master Repurchase Agreement. |
| --- | --- |

4.

The Bond Market Association Master Repurchase Agreement.

Anhang 2

Geschäfte, die keinem Aufrechnungsvertrag unterliegen

| 1. | Vorschriften dieses Anhanges finden Anwendung auf solche Einzelabschlüsse zwischen den Parteien, die von keinem anderen Aufrechnungsvertrag erfaßt werden. |
| --- | --- |

1.

Vorschriften dieses Anhanges finden Anwendung auf solche Einzelabschlüsse zwischen den Parteien, die von keinem anderen Aufrechnungsvertrag erfaßt werden.

| 2. | Sofern






  a) | eine Beendigung oder Kündigung aus wichtigem Grund nach Maßgabe eines Aufrechnungsvertrages eintritt oder |
| --- | --- | --- |

2.

Sofern

a)

eine Beendigung oder Kündigung aus wichtigem Grund nach Maßgabe eines Aufrechnungsvertrages eintritt oder

| b) | ein Beendigungs- oder Kündigungsgrund nach Maßgabe eines Aufrechnungsvertrages vorliegt, der zur Beendigung führen oder zur Kündigung durch die EZB berechtigen würde, sofern Einzelabschlüsse im Rahmen dieses Aufrechnungsvertrags getätigt worden wären,
  (im folgenden: ‘beendigendes Ereignis im Sinne dieses Anhangs’)
  und die EZB eine Kündigung im Hinblick auf diesen Anhang ausgesprochen hat, dann werden alle unter diesen Anhang fallenden Einzelabschlüsse gemäß den Ziffern 3 und 4 dieses Anhangs beendigt und abgerechnet, sofern diese Einzelabschlüsse Verpflichtungen enthalten, die im Zeitpunkt des Wirksamwerdens der Beendigung oder Kündigung noch nicht fällig sind. Die Hauptpflichten aus diesen Einzelgeschäften erlöschen, vorbehaltlich der nachfolgenden Ziffern 3 und 4 dieses Anhangs. |
| --- | --- |

b)

ein Beendigungs- oder Kündigungsgrund nach Maßgabe eines Aufrechnungsvertrages vorliegt, der zur Beendigung führen oder zur Kündigung durch die EZB berechtigen würde, sofern Einzelabschlüsse im Rahmen dieses Aufrechnungsvertrags getätigt worden wären,

(im folgenden: ‘beendigendes Ereignis im Sinne dieses Anhangs’)

und die EZB eine Kündigung im Hinblick auf diesen Anhang ausgesprochen hat, dann werden alle unter diesen Anhang fallenden Einzelabschlüsse gemäß den Ziffern 3 und 4 dieses Anhangs beendigt und abgerechnet, sofern diese Einzelabschlüsse Verpflichtungen enthalten, die im Zeitpunkt des Wirksamwerdens der Beendigung oder Kündigung noch nicht fällig sind. Die Hauptpflichten aus diesen Einzelgeschäften erlöschen, vorbehaltlich der nachfolgenden Ziffern 3 und 4 dieses Anhangs.

| 3. | Sollte eine Beendigung oder Kündigung gemäß Ziffer 2 dieses Anhangs eintreten, wird die EZB unverzüglich die beiderseitigen Ansprüche ermitteln und hierbei, sofern erforderlich, den aus jedem Einzelabschluß für die EZB resultierenden Gewinn oder Verlust ermitteln, der sich aus der vorzeitigen Kündigung oder Beendigung an dem Tag ergibt, an dem die Kündigung oder Beendigung wirksam wird; sie wird ferner diese Positionen ggf. in die Vertragswährung umrechnen. Die EZB faßt dann diese Forderungen und Verbindlichkeiten zu einer einzigen Forderung oder Verbindlichkeit zusammen mit der Folge, daß nurmehr dieser Betrag zwischen den Parteien geschuldet wird. |
| --- | --- |

3.

Sollte eine Beendigung oder Kündigung gemäß Ziffer 2 dieses Anhangs eintreten, wird die EZB unverzüglich die beiderseitigen Ansprüche ermitteln und hierbei, sofern erforderlich, den aus jedem Einzelabschluß für die EZB resultierenden Gewinn oder Verlust ermitteln, der sich aus der vorzeitigen Kündigung oder Beendigung an dem Tag ergibt, an dem die Kündigung oder Beendigung wirksam wird; sie wird ferner diese Positionen ggf. in die Vertragswährung umrechnen. Die EZB faßt dann diese Forderungen und Verbindlichkeiten zu einer einzigen Forderung oder Verbindlichkeit zusammen mit der Folge, daß nurmehr dieser Betrag zwischen den Parteien geschuldet wird.

| 4. | Zur Ermittlung der Gewinne und Verluste der EZB aus den jeweiligen Einzelabschlüssen wird die EZB, vorbehaltlich des anwendbaren Rechtes, eine für beide Seiten angemessene Berechnungsmethode verwenden, die a), soweit möglich und vorhanden, auf den von mindestens vier bedeutenden Marktteilnehmern an dem maßgeblichen Finanzplatz gestellten Kursen oder Preisen beruht und b) hierbei in Rechnung stellt, daß die Beendigung oder Kündigung des jeweiligen Einzelabschlusses vorzeitig stattgefunden hat. |
| --- | --- |

4.

Zur Ermittlung der Gewinne und Verluste der EZB aus den jeweiligen Einzelabschlüssen wird die EZB, vorbehaltlich des anwendbaren Rechtes, eine für beide Seiten angemessene Berechnungsmethode verwenden, die a), soweit möglich und vorhanden, auf den von mindestens vier bedeutenden Marktteilnehmern an dem maßgeblichen Finanzplatz gestellten Kursen oder Preisen beruht und b) hierbei in Rechnung stellt, daß die Beendigung oder Kündigung des jeweiligen Einzelabschlusses vorzeitig stattgefunden hat.

ANNEX IIId

Master netting agreement governed by New York law

MASTER NETTING AGREEMENT

Dated as of:

Between:

European Central Bank, Kaiserstrasse 29, D-60311 Frankfurt am Main, Germany (hereinafter referred to as the ‘ECB’), and

[Counterparty] whose [address] [registered place of business] is at [address] (hereinafter referred to as the ‘Counterparty’)

1.   Scope of agreement

| 1.1 | The purpose of this Agreement (hereinafter referred to as the ‘Agreement’) is to ensure that the ECB is able to net all existing positions under all outstanding transactions made between the ECB and the Counterparty, regardless of any agent or agents authorised to act on behalf of the ECB through whom the transactions giving rise to those positions may have been effected, including the central bank of any Member State of the European Union which has adopted the euro as its currency, and regardless of which office (including the head office and all branches) of the Counterparty may be involved in such transactions, and after taking into account the effect of any existing netting provisions in master or other agreements between the ECB and the Counterparty and/or provisions of mandatory law that operate with similar effect that may apply to certain of such transactions. |
| --- | --- |

1.1

The purpose of this Agreement (hereinafter referred to as the ‘Agreement’) is to ensure that the ECB is able to net all existing positions under all outstanding transactions made between the ECB and the Counterparty, regardless of any agent or agents authorised to act on behalf of the ECB through whom the transactions giving rise to those positions may have been effected, including the central bank of any Member State of the European Union which has adopted the euro as its currency, and regardless of which office (including the head office and all branches) of the Counterparty may be involved in such transactions, and after taking into account the effect of any existing netting provisions in master or other agreements between the ECB and the Counterparty and/or provisions of mandatory law that operate with similar effect that may apply to certain of such transactions.

| 1.2 | In this Agreement, a ‘netting agreement’ means any agreement for the time being in effect between the parties (and including, without limitation, this Agreement and agreements of the kind listed in Appendix 1 of this Agreement), including such modifications and additions thereto as may be agreed between the ECB and the Counterparty (hereinafter referred to as the ‘parties’) from time to time, which contains provisions to the effect that, should any event of default as defined for the purposes of such agreement occur, there may be an early termination, liquidation, closing-out or acceleration of transactions or obligations under transactions or any analogous event (a ‘default termination’) and the respective obligations of the parties under such agreement may be combined, aggregated or netted against each other so as to produce a single net balance payable by one party to the other. |
| --- | --- |

1.2

In this Agreement, a ‘netting agreement’ means any agreement for the time being in effect between the parties (and including, without limitation, this Agreement and agreements of the kind listed in Appendix 1 of this Agreement), including such modifications and additions thereto as may be agreed between the ECB and the Counterparty (hereinafter referred to as the ‘parties’) from time to time, which contains provisions to the effect that, should any event of default as defined for the purposes of such agreement occur, there may be an early termination, liquidation, closing-out or acceleration of transactions or obligations under transactions or any analogous event (a ‘default termination’) and the respective obligations of the parties under such agreement may be combined, aggregated or netted against each other so as to produce a single net balance payable by one party to the other.

2.   General

| 2.1 | All transactions of whatever nature (hereinafter referred to as ‘transactions’) entered into between the ECB and the parties at any time after the date of this Agreement shall be governed by this Agreement, unless the parties specifically agree otherwise. |
| --- | --- |

2.1

All transactions of whatever nature (hereinafter referred to as ‘transactions’) entered into between the ECB and the parties at any time after the date of this Agreement shall be governed by this Agreement, unless the parties specifically agree otherwise.

| 2.2 | The parties acknowledge that the terms of this Agreement, all transactions governed by this Agreement, any amendments to the terms of such transactions, and the single net balance payable under any netting agreement constitute a single business and contractual relationship and arrangement. |
| --- | --- |

2.2

The parties acknowledge that the terms of this Agreement, all transactions governed by this Agreement, any amendments to the terms of such transactions, and the single net balance payable under any netting agreement constitute a single business and contractual relationship and arrangement.

| 2.3 | Each party represents and warrants to the other that it is a financial institution for purposes of the U.S. Federal Deposit Insurance Corporation Improvement Act of 1991 (hereinafter referred to as ‘FDICIA’), and the parties agree that this Agreement shall be a netting contract, as defined in FDICIA, and that each receipt or payment obligation under the Agreement shall be a covered contractual payment entitlement or covered contractual payment obligation respectively, as defined in and subject to FDICIA. |
| --- | --- |

2.3

Each party represents and warrants to the other that it is a financial institution for purposes of the U.S. Federal Deposit Insurance Corporation Improvement Act of 1991 (hereinafter referred to as ‘FDICIA’), and the parties agree that this Agreement shall be a netting contract, as defined in FDICIA, and that each receipt or payment obligation under the Agreement shall be a covered contractual payment entitlement or covered contractual payment obligation respectively, as defined in and subject to FDICIA.

| 2.4 | The Counterparty has entered into this Agreement as principal and represents and warrants that it has entered and shall enter into all transactions as principal. |
| --- | --- |

2.4

The Counterparty has entered into this Agreement as principal and represents and warrants that it has entered and shall enter into all transactions as principal.

| [2.5 | The Counterparty represents and warrants to, and covenants and agrees with the ECB, that:






  (a) | it has the power to execute and deliver this Agreement and any other documentation relating to this Agreement to which it is a party and that it is required to deliver; it has the power to perform its obligations under this Agreement and any obligations under any netting agreement to which it is a party; it has taken all necessary action to authorise such execution, delivery and performance, including authorisations required under the U.S. Federal Deposit Insurance Act, as amended, including amendments effected by the U.S. Federal Institutions Reform, Recovery and Enforcement Act of 1989, and under any agreement, writ, decree or order entered into with a party's supervisory authorities; and |
| --- | --- | --- |

[2.5

The Counterparty represents and warrants to, and covenants and agrees with the ECB, that:

(a)

it has the power to execute and deliver this Agreement and any other documentation relating to this Agreement to which it is a party and that it is required to deliver; it has the power to perform its obligations under this Agreement and any obligations under any netting agreement to which it is a party; it has taken all necessary action to authorise such execution, delivery and performance, including authorisations required under the U.S. Federal Deposit Insurance Act, as amended, including amendments effected by the U.S. Federal Institutions Reform, Recovery and Enforcement Act of 1989, and under any agreement, writ, decree or order entered into with a party's supervisory authorities; and

| (b) | at all times during the term of this Agreement, it will continuously include and maintain as part of its official written books and records this Agreement, the netting agreements and evidence of all necessary authorisations.] (1) |
| --- | --- |

(b)

at all times during the term of this Agreement, it will continuously include and maintain as part of its official written books and records this Agreement, the netting agreements and evidence of all necessary authorisations.] (1)

| [2.5][2.6] | This Agreement is supplemental to the netting agreements entered into between the parties prior to the date of this Agreement, and all further netting agreements and transactions entered into between the parties after the date of this Agreement shall be supplemental to this Agreement. |
| --- | --- |

[2.5][2.6]

This Agreement is supplemental to the netting agreements entered into between the parties prior to the date of this Agreement, and all further netting agreements and transactions entered into between the parties after the date of this Agreement shall be supplemental to this Agreement.

3.   Base currency

The base currency for the purposes of this Agreement shall be the US dollar or, at the ECB's option, any other currency. Wherever it is necessary in accordance with the terms of this Agreement to convert amounts into the base currency, such amounts shall be converted at the daily reference rate published by the ECB for the currency to be converted into the base currency or, in the absence of such reference rate, at the rate of exchange at which the ECB can buy or sell, as appropriate, such amounts with or against the base currency on such day, all as determined by the ECB.

4.   Cross acceleration

Should any default termination occur under any netting agreement (including under Appendix 2 of this Agreement), then the ECB shall have the right to declare, by written notice to the Counterparty, that a default termination has occurred under each other netting agreement in respect of which default termination has not occurred in accordance with the provisions thereof.

5.   Global netting

| 5.1 | Should a default termination occur, the ECB shall, as soon as is reasonably practicable, take an account of what is due from each party to the other under each netting agreement (including under Appendix 2 of this Agreement) in respect of which default termination has occurred and aggregate the sums due from each party to the other under such netting agreements (including under Appendix 2 of this Agreement), in every case in or converted into the base currency, and only the net balance of the account shall be payable by the party owing the larger aggregate sum. |
| --- | --- |

5.1

Should a default termination occur, the ECB shall, as soon as is reasonably practicable, take an account of what is due from each party to the other under each netting agreement (including under Appendix 2 of this Agreement) in respect of which default termination has occurred and aggregate the sums due from each party to the other under such netting agreements (including under Appendix 2 of this Agreement), in every case in or converted into the base currency, and only the net balance of the account shall be payable by the party owing the larger aggregate sum.

| 5.2 | Clause 5.1 shall continue to operate to the extent possible notwithstanding the unenforceability under applicable law of any provisions contained in any netting agreement (including under Appendix 2 of this Agreement). |
| --- | --- |

5.2

Clause 5.1 shall continue to operate to the extent possible notwithstanding the unenforceability under applicable law of any provisions contained in any netting agreement (including under Appendix 2 of this Agreement).

6.   Notices and other communications

All notices, instructions and other communications to be given under this Agreement shall be effective only upon receipt and shall be made in writing (including by electronic means).

7.   Severability

Each provision contained herein (including, without limitation, Appendix 2 of this Agreement) shall be treated as separate from any other provision herein and shall be enforceable notwithstanding the unenforceability of any such other provision.

8.   Non-assignability

The rights and obligations of the Counterparty under this Agreement may not be assigned, charged, pledged or otherwise transferred or dealt with by the Counterparty.

9.   Governing law and jurisdiction

| 9.1 | This Agreement shall be governed by and construed in accordance with the laws of the State of New York, United States of America. |
| --- | --- |

9.1

This Agreement shall be governed by and construed in accordance with the laws of the State of New York, United States of America.

| 9.2 | For the benefit of the ECB, the Counterparty hereby irrevocably submits for all purposes of or in connection with this Agreement to the jurisdiction of the District Court (Landgericht) of Frankfurt am Main, Germany. Nothing in this clause 9 shall limit the right of the ECB to take proceedings before the courts of any other country of competent jurisdiction. |
| --- | --- |

9.2

For the benefit of the ECB, the Counterparty hereby irrevocably submits for all purposes of or in connection with this Agreement to the jurisdiction of the District Court (Landgericht) of Frankfurt am Main, Germany. Nothing in this clause 9 shall limit the right of the ECB to take proceedings before the courts of any other country of competent jurisdiction.

European Central Bank

[Name of Counterparty] (2)

Image

---

(1)  Representation to be used where the Counterparty is a US depository institution.

(2)  In the case of US depository institution counterparties, to be executed by a bank officer at the level of Vice President or higher.

Appendix 1

Netting agreements

| 1. | FBE Master Agreement for Financial Transactions (Edition 2004) |
| --- | --- |

1.

FBE Master Agreement for Financial Transactions (Edition 2004)

| 2. | ISDA Master Agreement (Multi-currency — Cross border 1992) |
| --- | --- |

2.

ISDA Master Agreement (Multi-currency — Cross border 1992)

| 3. | TBMA/ISMA Global Master Repurchase Agreement (2000 version) |
| --- | --- |

3.

TBMA/ISMA Global Master Repurchase Agreement (2000 version)

| 4. | The Bond Market Association Master Repurchase Agreement. |
| --- | --- |

4.

The Bond Market Association Master Repurchase Agreement.

Appendix 2

Transactions not subject to any netting agreement

| 1. | The provisions of this Appendix apply to transactions entered into between the parties that are not effectively subject to any other netting agreement. |
| --- | --- |

1.

The provisions of this Appendix apply to transactions entered into between the parties that are not effectively subject to any other netting agreement.

| 2. | Should:






  (a) | a default termination occur under any netting agreement, or |
| --- | --- | --- |

2.

Should:

(a)

a default termination occur under any netting agreement, or

| (b) | an event that is defined as an event of default or other analogous event under any netting agreement occur, which event would, assuming there were outstanding transactions under any such netting agreement, result in, or entitle the ECB to take steps which would result in, a default termination under such netting agreement,
  (any such event under (a) or (b) above is referred to in this Appendix as an ‘event of default’),
  then all transactions to which this Appendix applies (but not less than all, unless any such transaction may not be so closed out under applicable law) under which obligations have or would otherwise have fallen due by or after the date of such event of default (the ‘close out date’) shall be liquidated and closed-out as described under paragraphs 3 and 4 of this Appendix, and the ECB shall, without prejudice to paragraphs 3 and 4 of this Appendix, not be obliged to make any further payments or deliveries under any such transactions. |
| --- | --- |

(b)

an event that is defined as an event of default or other analogous event under any netting agreement occur, which event would, assuming there were outstanding transactions under any such netting agreement, result in, or entitle the ECB to take steps which would result in, a default termination under such netting agreement,

(any such event under (a) or (b) above is referred to in this Appendix as an ‘event of default’),

then all transactions to which this Appendix applies (but not less than all, unless any such transaction may not be so closed out under applicable law) under which obligations have or would otherwise have fallen due by or after the date of such event of default (the ‘close out date’) shall be liquidated and closed-out as described under paragraphs 3 and 4 of this Appendix, and the ECB shall, without prejudice to paragraphs 3 and 4 of this Appendix, not be obliged to make any further payments or deliveries under any such transactions.

| 3. | Should liquidation and close-out under paragraph 2 of this Appendix occur, the ECB shall, as soon as is reasonably practicable, take an account of what is due from each party to the other, including, as necessary, determining in respect of each transaction the ECB's total gain or loss, as the case may be, resulting from the liquidation and close-out of such transaction as at the date of such liquidation and close-out, in every case in or converted into the base currency. The ECB shall then aggregate such gains and losses and only the balance of the account shall be payable by the Counterparty, if the aggregate losses exceed the aggregate gains, or by the ECB, if the aggregate gains exceed the aggregate losses. |
| --- | --- |

3.

Should liquidation and close-out under paragraph 2 of this Appendix occur, the ECB shall, as soon as is reasonably practicable, take an account of what is due from each party to the other, including, as necessary, determining in respect of each transaction the ECB's total gain or loss, as the case may be, resulting from the liquidation and close-out of such transaction as at the date of such liquidation and close-out, in every case in or converted into the base currency. The ECB shall then aggregate such gains and losses and only the balance of the account shall be payable by the Counterparty, if the aggregate losses exceed the aggregate gains, or by the ECB, if the aggregate gains exceed the aggregate losses.

| 4. | In determining in respect of each transaction the ECB's total gain or loss, the ECB shall, subject to applicable law, use a commercially reasonable method of calculation which (a) is based on, to the extent practicable and available, quotations from at least four leading dealers in the relevant market operating in the same financial centre, and (b) takes into account, where applicable, the liquidation and close-out of such transaction earlier than its scheduled value date or delivery date. |
| --- | --- |

4.

In determining in respect of each transaction the ECB's total gain or loss, the ECB shall, subject to applicable law, use a commercially reasonable method of calculation which (a) is based on, to the extent practicable and available, quotations from at least four leading dealers in the relevant market operating in the same financial centre, and (b) takes into account, where applicable, the liquidation and close-out of such transaction earlier than its scheduled value date or delivery date.

| 5. | The parties agree that the calculation of the net sum under paragraphs 3 and 4 of this Appendix is a reasonable pre-estimate of losses suffered. |
| --- | --- |

5.

The parties agree that the calculation of the net sum under paragraphs 3 and 4 of this Appendix is a reasonable pre-estimate of losses suffered.

---

II Information

INFORMATION FROM EUROPEAN UNION INSTITUTIONS AND BODIES

Commission

| 25.1.2007 | EN | Official Journal of the European Union | C 17/22 |
| --- | --- | --- | --- |

25.1.2007

EN

Official Journal of the European Union

C 17/22

---

Authorisation for State aid pursuant to Articles 87 and 88 of the EC Treaty

Cases where the Commission raises no objections

(Text with EEA relevance)

(2007/C 17/03)

| Date of adoption of the decision | 11.12.2006 |
| --- | --- |
| Reference number of the aid | N 663/06 |
| Member State | Slovakia |
| Region | — |
| Title (and/or name of the beneficiary) | Pomoc spoločnosti Petit Press a.s. na týždenník Vasárnap |
| Legal basis | a) | Zákon č. 523/2004 Z. z. o rozpočtových pravidlách verejnej správy a o zmene a doplnení niektorých zákonov, |

Date of adoption of the decision

11.12.2006

Reference number of the aid

N 663/06

Member State

Slovakia

Region

—

Title (and/or name of the beneficiary)

Pomoc spoločnosti Petit Press a.s. na týždenník Vasárnap

Legal basis

a)

Zákon č. 523/2004 Z. z. o rozpočtových pravidlách verejnej správy a o zmene a doplnení niektorých zákonov,

| b) | Zákon č. 231/1999 Z. z. o štátnej pomoci v znení zákona č. 203/2004 – § 4 ods. 1, písm. d), |
| --- | --- |

b)

Zákon č. 231/1999 Z. z. o štátnej pomoci v znení zákona č. 203/2004 – § 4 ods. 1, písm. d),

| c) | Výnos Ministerstva kultúry Slovenskej republiky č. MK – 2165/2006-110/6075, ktorým sa mení a dopĺňa výnos MK SR č. MK-12947/05-110/30493 o poskytovaní dotácií v pôsobnosti Ministerstva kultúry Slovenskej republiky |
| --- | --- |

c)

Výnos Ministerstva kultúry Slovenskej republiky č. MK – 2165/2006-110/6075, ktorým sa mení a dopĺňa výnos MK SR č. MK-12947/05-110/30493 o poskytovaní dotácií v pôsobnosti Ministerstva kultúry Slovenskej republiky

Type of measure

Individual aid

Objective

Culture

Form of aid

Direct grant

Budget

Annual budget: SKK 1,05 million

Intensity

23 %

Duration

1.1.2006-31.12.2006

Economic sectors

Media

Name and address of the granting authority

Ministerstvo kultúry SR, Nám. SNP 33, SK-813 31 Bratislava, Slovenská republika

Other information

—

The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:

http://ec.europa.eu/community_law/state_aids/

| Date of adoption of the decision | 11.12.2006 |
| --- | --- |
| Reference number of the aid | N 664/06 |
| Member State | Slovakia |
| Region | — |
| Title (and/or name of the beneficiary) | Pomoc spoločnosti Petit Press a.s. na denník Új Szó |
| Legal basis | a) | Zákon č. 523/2004 Z. z. o rozpočtových pravidlách verejnej správy a o zmene a doplnení niektorých zákonov, |

Date of adoption of the decision

11.12.2006

Reference number of the aid

N 664/06

Member State

Slovakia

Region

—

Title (and/or name of the beneficiary)

Pomoc spoločnosti Petit Press a.s. na denník Új Szó

Legal basis

a)

Zákon č. 523/2004 Z. z. o rozpočtových pravidlách verejnej správy a o zmene a doplnení niektorých zákonov,

| b) | Zákon č. 231/1999 Z. z. o štátnej pomoci v znení zákona č. 203/2004 – § 4 ods. 1, písm. d), |
| --- | --- |

b)

Zákon č. 231/1999 Z. z. o štátnej pomoci v znení zákona č. 203/2004 – § 4 ods. 1, písm. d),

| c) | Výnos MK SR – 12947/05-110/30493 o poskytovaní dotácií v pôsobnosti MK SR |
| --- | --- |

c)

Výnos MK SR – 12947/05-110/30493 o poskytovaní dotácií v pôsobnosti MK SR

Type of measure

Individual aid

Objective

Culture

Form of aid

Direct grant

Budget

Annual budget: SKK 2,4 million

Intensity

37 %

Duration

1.1.2006-31.12.2006

Economic sectors

Media

Name and address of the granting authority

Ministerstvo kultúry SR, Nám. SNP 33, SK-813 31 Bratislava, Slovenská republika

Other information

—

The authentic text(s) of the decision, from which all confidential information has been removed, can be found at:

http://ec.europa.eu/community_law/state_aids/

---

| 25.1.2007 | EN | Official Journal of the European Union | C 17/24 |
| --- | --- | --- | --- |

25.1.2007

EN

Official Journal of the European Union

C 17/24

---

Non-opposition to a notified concentration

(Case COMP/M.4356 — Deutsche Bank/Berliner Bank)

(Text with EEA relevance)

(2007/C 17/04)

On 15 December 2006, the Commission decided not to oppose the above notified concentration and to declare it compatible with the common market. This decision is based on Article 6(1)(b) of Council Regulation (EC) No. 139/2004. The full text of the decision is available only in German and will be made public after it is cleared of any business secrets it may contain. It will be available:

| — | from the Europa competition website (http://ec.europa.eu/comm/competition/mergers/cases/). This website provides various facilities to help locate individual merger decisions, including company, case number, date and sectoral indexes, |
| --- | --- |

—

from the Europa competition website (http://ec.europa.eu/comm/competition/mergers/cases/). This website provides various facilities to help locate individual merger decisions, including company, case number, date and sectoral indexes,

| — | in electronic form on the EUR-Lex website under document number 32006M4356. EUR-Lex is the on-line access to European law. (http://eur-lex.europa.eu) |
| --- | --- |

—

in electronic form on the EUR-Lex website under document number 32006M4356. EUR-Lex is the on-line access to European law. (http://eur-lex.europa.eu)

---

| 25.1.2007 | EN | Official Journal of the European Union | C 17/24 |
| --- | --- | --- | --- |

25.1.2007

EN

Official Journal of the European Union

C 17/24

---

Non-opposition to a notified concentration

(Case COMP/M.4479 — News Corporation/JAMBA/OJOM)

(Text with EEA relevance)

(2007/C 17/05)

On 22 December 2006, the Commission decided not to oppose the above notified concentration and to declare it compatible with the common market. This decision is based on Article 6(1)(b) of Council Regulation (EC) No. 139/2004. The full text of the decision is available only in English and will be made public after it is cleared of any business secrets it may contain. It will be available:

| — | from the Europa competition website (http://ec.europa.eu/comm/competition/mergers/cases/). This website provides various facilities to help locate individual merger decisions, including company, case number, date and sectoral indexes, |
| --- | --- |

—

from the Europa competition website (http://ec.europa.eu/comm/competition/mergers/cases/). This website provides various facilities to help locate individual merger decisions, including company, case number, date and sectoral indexes,

| — | in electronic form on the EUR-Lex website under document number 32006M4479. EUR-Lex is the on-line access to European law. (http://eur-lex.europa.eu) |
| --- | --- |

—

in electronic form on the EUR-Lex website under document number 32006M4479. EUR-Lex is the on-line access to European law. (http://eur-lex.europa.eu)

---

IV Notices

NOTICES FROM EUROPEAN UNION INSTITUTIONS AND BODIES

Commission

| 25.1.2007 | EN | Official Journal of the European Union | C 17/25 |
| --- | --- | --- | --- |

25.1.2007

EN

Official Journal of the European Union

C 17/25

---

Euro exchange rates (1)

24 January 2007

(2007/C 17/06)

1 euro=

| | Currency | Exchange rate |
| --- | --- | --- |
| USD | US dollar | 1,3005 |
| JPY | Japanese yen | 158,06 |
| DKK | Danish krone | 7,4548 |
| GBP | Pound sterling | 0,65950 |
| SEK | Swedish krona | 9,0595 |
| CHF | Swiss franc | 1,6195 |
| ISK | Iceland króna | 89,45 |
| NOK | Norwegian krone | 8,2635 |
| BGN | Bulgarian lev | 1,9558 |
| CYP | Cyprus pound | 0,5784 |
| CZK | Czech koruna | 28,063 |
| EEK | Estonian kroon | 15,6466 |
| HUF | Hungarian forint | 254,13 |
| LTL | Lithuanian litas | 3,4528 |
| LVL | Latvian lats | 0,6974 |
| MTL | Maltese lira | 0,4293 |
| PLN | Polish zloty | 3,8860 |
| RON | Romanian leu | 3,3916 |
| SKK | Slovak koruna | 34,970 |
| TRY | Turkish lira | 1,8368 |
| AUD | Australian dollar | 1,6631 |
| CAD | Canadian dollar | 1,5336 |
| HKD | Hong Kong dollar | 10,1480 |
| NZD | New Zealand dollar | 1,8634 |
| SGD | Singapore dollar | 1,9971 |
| KRW | South Korean won | 1 217,00 |
| ZAR | South African rand | 9,2744 |
| CNY | Chinese yuan renminbi | 10,1081 |
| HRK | Croatian kuna | 7,3915 |
| IDR | Indonesian rupiah | 11 807,00 |
| MYR | Malaysian ringgit | 4,5518 |
| PHP | Philippine peso | 63,480 |
| RUB | Russian rouble | 34,4420 |
| THB | Thai baht | 45,723 |

Currency

Exchange rate

USD

US dollar

1,3005

JPY

Japanese yen

158,06

DKK

Danish krone

7,4548

GBP

Pound sterling

0,65950

SEK

Swedish krona

9,0595

CHF

Swiss franc

1,6195

ISK

Iceland króna

89,45

NOK

Norwegian krone

8,2635

BGN

Bulgarian lev

1,9558

CYP

Cyprus pound

0,5784

CZK

Czech koruna

28,063

EEK

Estonian kroon

15,6466

HUF

Hungarian forint

254,13

LTL

Lithuanian litas

3,4528

LVL

Latvian lats

0,6974

MTL

Maltese lira

0,4293

PLN

Polish zloty

3,8860

RON

Romanian leu

3,3916

SKK

Slovak koruna

34,970

TRY

Turkish lira

1,8368

AUD

Australian dollar

1,6631

CAD

Canadian dollar

1,5336

HKD

Hong Kong dollar

10,1480

NZD

New Zealand dollar

1,8634

SGD

Singapore dollar

1,9971

KRW

South Korean won

1 217,00

ZAR

South African rand

9,2744

CNY

Chinese yuan renminbi

10,1081

HRK

Croatian kuna

7,3915

IDR

Indonesian rupiah

11 807,00

MYR

Malaysian ringgit

4,5518

PHP

Philippine peso

63,480

RUB

Russian rouble

34,4420

THB

Thai baht

45,723

---

(1)

Source: reference exchange rate published by the ECB.

---

European Central Bank

| 25.1.2007 | EN | Official Journal of the European Union | C 17/26 |
| --- | --- | --- | --- |

25.1.2007

EN

Official Journal of the European Union

C 17/26

---

AGREEMENT

of 30 December 2006

between the European Central Bank and Banka Slovenije regarding the claim credited to Banka Slovenije by the European Central Bank under Article 30.3 of the Statute of the European System of Central Banks and of the European Central Bank

(2007/C 17/07)

THE EUROPEAN CENTRAL BANK AND BANKA SLOVENIJE,

Whereas:

| (1) | Pursuant to Article 3(1) of Decision ECB/2006/30 of 30 December 2006 on Banka Slovenije's paying-up of capital, transfer of foreign-reserve assets and contribution to the European Central Bank's reserves and provisions (1), the aggregate euro-equivalent amount of foreign reserve assets that Banka Slovenije is required to transfer to the European Central Bank (ECB) with effect from 1 January 2007 in accordance with Article 49.1 of the Statute of the European System of Central Banks and of the European Central Bank is EUR 191 641 809,33. |
| --- | --- |

(1)

Pursuant to Article 3(1) of Decision ECB/2006/30 of 30 December 2006 on Banka Slovenije's paying-up of capital, transfer of foreign-reserve assets and contribution to the European Central Bank's reserves and provisions (1), the aggregate euro-equivalent amount of foreign reserve assets that Banka Slovenije is required to transfer to the European Central Bank (ECB) with effect from 1 January 2007 in accordance with Article 49.1 of the Statute of the European System of Central Banks and of the European Central Bank is EUR 191 641 809,33.

| (2) | Pursuant to Article 30.3 of the Statute and Article 4(1) of Decision ECB/2006/30, with effect from 1 January 2007 the ECB is required to credit Banka Slovenije with a euro-denominated claim equivalent to the aggregate euro amount of Banka Slovenije's contribution of foreign reserve assets, subject to the specifications provided for in Article 3 of that Decision. The ECB and Banka Slovenije agree to set Banka Slovenije's claim at EUR 183 995 237,74 in order to ensure that the ratio between the amount in euro of Banka Slovenije's claim and the aggregate amount in euro of the claims credited to the other national central banks of Member States that have adopted the euro (hereinafter the 'participating NCBs') will be equal to the ratio between Banka Slovenije's weighting in the ECB's capital key and the other participating NCBs' aggregate weighting in this key. |
| --- | --- |

(2)

Pursuant to Article 30.3 of the Statute and Article 4(1) of Decision ECB/2006/30, with effect from 1 January 2007 the ECB is required to credit Banka Slovenije with a euro-denominated claim equivalent to the aggregate euro amount of Banka Slovenije's contribution of foreign reserve assets, subject to the specifications provided for in Article 3 of that Decision. The ECB and Banka Slovenije agree to set Banka Slovenije's claim at EUR 183 995 237,74 in order to ensure that the ratio between the amount in euro of Banka Slovenije's claim and the aggregate amount in euro of the claims credited to the other national central banks of Member States that have adopted the euro (hereinafter the 'participating NCBs') will be equal to the ratio between Banka Slovenije's weighting in the ECB's capital key and the other participating NCBs' aggregate weighting in this key.

| (3) | The difference between the amounts mentioned in recitals 1 and 2 results from the application to the value of foreign reserve assets already transferred by Banka Slovenije pursuant to Article 30.1 of the Statute of the 'current exchange rates' referred to in Article 49.1 of the Statute and from the effect on the claims pursuant to Article 30.3 of the Statute held by the other participating NCBs of the following: (i) the ECB's capital key adjustment on 1 January 2004 pursuant to Article 29.3 of the Statute; (ii) the ECB's capital key expansion on 1 May 2004 pursuant to Article 49.3 of the Statute; and (iii) the ECB's capital key expansion on 1 January 2007 pursuant to Article 49.3 of the Statute. |
| --- | --- |

(3)

The difference between the amounts mentioned in recitals 1 and 2 results from the application to the value of foreign reserve assets already transferred by Banka Slovenije pursuant to Article 30.1 of the Statute of the 'current exchange rates' referred to in Article 49.1 of the Statute and from the effect on the claims pursuant to Article 30.3 of the Statute held by the other participating NCBs of the following: (i) the ECB's capital key adjustment on 1 January 2004 pursuant to Article 29.3 of the Statute; (ii) the ECB's capital key expansion on 1 May 2004 pursuant to Article 49.3 of the Statute; and (iii) the ECB's capital key expansion on 1 January 2007 pursuant to Article 49.3 of the Statute.

| (4) | In view of the abovementioned difference, the ECB and Banka Slovenije agree that Banka Slovenije's claim may be reduced by offsetting against it the amount that Banka Slovenije is required to contribute to the ECB's reserves and provisions pursuant to Article 49.2 of the Statute and Article 5(1) of Decision ECB/2006/30, in the event that Banka Slovenije's claim is larger than the amount of EUR 183 995 237,74. |
| --- | --- |

(4)

In view of the abovementioned difference, the ECB and Banka Slovenije agree that Banka Slovenije's claim may be reduced by offsetting against it the amount that Banka Slovenije is required to contribute to the ECB's reserves and provisions pursuant to Article 49.2 of the Statute and Article 5(1) of Decision ECB/2006/30, in the event that Banka Slovenije's claim is larger than the amount of EUR 183 995 237,74.

| (5) | The ECB and Banka Slovenije should agree on other modalities for crediting Banka Slovenije's claim, taking into account that, depending on exchange rate movements, it may be necessary to increase rather than to reduce the claim to the amount referred to in recital 2. |
| --- | --- |

(5)

The ECB and Banka Slovenije should agree on other modalities for crediting Banka Slovenije's claim, taking into account that, depending on exchange rate movements, it may be necessary to increase rather than to reduce the claim to the amount referred to in recital 2.

| (6) | The Governing Council has approved the ECB's entry into this Agreement, which concerns a decision to be taken under Article 30 of the Statute, in accordance with Article 10.3 of the Statute and the procedure specified therein, |
| --- | --- |

(6)

The Governing Council has approved the ECB's entry into this Agreement, which concerns a decision to be taken under Article 30 of the Statute, in accordance with Article 10.3 of the Statute and the procedure specified therein,

HAVE AGREED AS FOLLOWS:

Article 1

Modalities for crediting Banka Slovenije's claim

1.   If the amount of the claim that the ECB is required to credit to Banka Slovenije pursuant to Article 30.3 of the Statute and Article 4(1) of Decision ECB/2006/30 (hereinafter 'Banka Slovenije's claim' or the 'claim') is greater than EUR 183 995 237,74 on the final date on which the ECB receives foreign reserve assets from Banka Slovenije pursuant to Article 3 of Decision ECB/2006/30, then the amount of the claim shall be reduced with effect from that date to EUR 183 995 237,74. Such a reduction shall be made by offsetting against the claim the amount that Banka Slovenije is required to contribute to the ECB's reserves and provisions with effect from 1 January 2007 pursuant to Article 49.2 of the Statute and Article 5(1) of Decision ECB/2006/30. The offset amount shall be treated as an advance contribution to the ECB's reserves and provisions pursuant to Article 49.2 of the Statute and Article 5(1) of Decision ECB/2006/30, which shall be deemed to have been made on the date on which the offset occurs.

2.   If the amount required to be contributed by Banka Slovenije to the ECB's reserves and provisions pursuant to Article 49.2 of the Statute and Article 5(1) of Decision ECB/2006/30 is less than the difference between: (a) the amount of Banka Slovenije's claim; and (b) EUR 183 995 237,74, then the amount of the claim shall be reduced to EUR 183 995 237,74: (1) by offsetting in accordance with paragraph 1 above; and (2) by the ECB paying Banka Slovenije an amount in euro equal to the amount of the shortfall remaining after such offset. Any amount required to be paid by the ECB in accordance with this paragraph shall be due with effect from 1 January 2007. The ECB shall, in due course, give instructions for the transfer of such an amount, and of net accrued interest thereon, through the Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET). Accrued interest shall be calculated on a daily basis, using the actual over-360-day method of calculation at a rate equal to the marginal interest rate used by the European System of Central Banks (ESCB) in that of its most recent main refinancing operation.

3.   If the amount of Banka Slovenije's claim is less than EUR 183 995 237,74 on the final date on which the ECB receives foreign reserve assets from Banka Slovenije pursuant to Article 3 of Decision ECB/2006/30, then the amount of the claim shall be increased on that date to EUR 183 995 237,74. The increase shall be effected by Banka Slovenije paying the ECB an amount in euro equal to the difference. Any amount required to be paid by Banka Slovenije in accordance with this paragraph shall be due from 1 January 2007, and shall be paid in accordance with the procedures specified in Article 5(4) and (5) of Decision ECB/2006/30.

Article 2

Final provisions

1.   This Agreement shall enter into force on 1 January 2007.

2.   This Agreement shall be drawn up in two duly signed originals in the English language. The ECB and Banka Slovenije shall each retain one original hereof.

Done at Frankfurt am Main, 30 December 2006.

For the European Central Bank

Jean-Claude TRICHET

President

For Banka Slovenije

Mitja GASPARI

Governor

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(1)  Not yet published.

1

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V Announcements

PROCEDURES RELATING TO THE IMPLEMENTATION OF THE COMMON COMMERCIAL AND COMPETITION POLICY

Commission

| 25.1.2007 | EN | Official Journal of the European Union | C 17/28 |
| --- | --- | --- | --- |

25.1.2007

EN

Official Journal of the European Union

C 17/28

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Prior notification of a concentration

(Case COMP/M.4424 — Japan Tobacco/Gallaher )

(Text with EEA relevance)

(2007/C 17/08)

| 1. | On 17 January 2007, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking Japan Tobacco Inc. (‘JT’, Japan) acquires within the meaning of Article 3(1)(b) of the Council Regulation control of the whole of the undertaking Gallaher Group plc. (‘Gallaher’, UK), by way of a public offer announced on 15 December 2006. |
| --- | --- |

1.

On 17 January 2007, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking Japan Tobacco Inc. (‘JT’, Japan) acquires within the meaning of Article 3(1)(b) of the Council Regulation control of the whole of the undertaking Gallaher Group plc. (‘Gallaher’, UK), by way of a public offer announced on 15 December 2006.

| 2. | The business activities of the undertakings concerned are:






  — | JT: Manufacture and distribution of tobacco products; |
| --- | --- | --- |

2.

The business activities of the undertakings concerned are:

—

JT: Manufacture and distribution of tobacco products;

| — | Gallaher: Manufacture and distribution of tobacco products; |
| --- | --- |

—

Gallaher: Manufacture and distribution of tobacco products;

| 3. | On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved. |
| --- | --- |

3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved.

| 4. | The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
  Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax ((32-2) 296 43 01 or 296 72 44) or by post, under reference number COMP/M.4424 — Japan Tobacco/Gallaher, to the following address:





  European Commission |
| --- | --- |
| Directorate-General for Competition, |
| Merger Registry |
| J-70 |
| B-1049 Bruxelles/Brussel |

4.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax ((32-2) 296 43 01 or 296 72 44) or by post, under reference number COMP/M.4424 — Japan Tobacco/Gallaher, to the following address:

European Commission

Directorate-General for Competition,

Merger Registry

J-70

B-1049 Bruxelles/Brussel

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(1)  OJ L 24, 29.1.2004, p. 1.

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| 25.1.2007 | EN | Official Journal of the European Union | C 17/29 |
| --- | --- | --- | --- |

25.1.2007

EN

Official Journal of the European Union

C 17/29

---

Prior notification of a concentration

(Case COMP/M.4507 — Givaudan/Quest International)

(Text with EEA relevance)

(2007/C 17/09)

| 1. | On 17 January 2007, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking Givaudan S.A., Switzerland (‘Givaudan’), acquires within the meaning of Article 3(1)(b) of the Council Regulation control of the whole of the undertaking Quest International, Netherlands (‘Quest’), by way of purchase of assets and shares. |
| --- | --- |

1.

On 17 January 2007, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking Givaudan S.A., Switzerland (‘Givaudan’), acquires within the meaning of Article 3(1)(b) of the Council Regulation control of the whole of the undertaking Quest International, Netherlands (‘Quest’), by way of purchase of assets and shares.

| 2. | The business activities of the undertakings concerned are:






  — | for Givaudan: manufacturing and sale of flavours, fragrances and aroma chemicals; |
| --- | --- | --- |

2.

The business activities of the undertakings concerned are:

—

for Givaudan: manufacturing and sale of flavours, fragrances and aroma chemicals;

| — | for Quest: manufacturing and sale of flavours, fragrances and aroma chemicals. |
| --- | --- |

—

for Quest: manufacturing and sale of flavours, fragrances and aroma chemicals.

| 3. | On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved. |
| --- | --- |

3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved.

| 4. | The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
  Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax ((32-2) 296 43 01 or 296 72 44) or by post, under reference number COMP/M.4507 — Givaudan/Quest International, to the following address:





  European Commission |
| --- | --- |
| Directorate-General for Competition |
| Merger Registry |
| J-70 |
| B-1049 Bruxelles/Brussel |

4.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax ((32-2) 296 43 01 or 296 72 44) or by post, under reference number COMP/M.4507 — Givaudan/Quest International, to the following address:

European Commission

Directorate-General for Competition

Merger Registry

J-70

B-1049 Bruxelles/Brussel

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(1)  OJ L 24, 29.1.2004, p. 1.

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| 25.1.2007 | EN | Official Journal of the European Union | C 17/30 |
| --- | --- | --- | --- |

25.1.2007

EN

Official Journal of the European Union

C 17/30

---

Prior notification of a concentration

(Case COMP/M.4505 — Freeport-McMoRan Copper & Gold/Phelps Dodge Corporation)

(Text with EEA relevance)

(2007/C 17/10)

| 1. | On 16 January 2007, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking Freeport-McMoRan Copper & Gold Inc. (‘FCX’) acquires within the meaning of Article 3(1)(b) of the Council Regulation control of the whole of the undertaking Phelps Dodge Corporation (‘PD’) by way of purchase of shares. |
| --- | --- |

1.

On 16 January 2007, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking Freeport-McMoRan Copper & Gold Inc. (‘FCX’) acquires within the meaning of Article 3(1)(b) of the Council Regulation control of the whole of the undertaking Phelps Dodge Corporation (‘PD’) by way of purchase of shares.

| 2. | The business activities of the undertakings concerned are:






  — | FCX: International copper mining, smelting and refining company; |
| --- | --- | --- |

2.

The business activities of the undertakings concerned are:

—

FCX: International copper mining, smelting and refining company;

| — | PD: International mining and metals company, principally active in the production of copper, molybdenum, by-products of the copper refining process and electrical wires and cables. |
| --- | --- |

—

PD: International mining and metals company, principally active in the production of copper, molybdenum, by-products of the copper refining process and electrical wires and cables.

| 3. | On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved. |
| --- | --- |

3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved.

| 4. | The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
  Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax ((32-2) 296 43 01 or 296 72 44) or by post, under reference number COMP/M.4505 — Freeport-McMoRan Copper & Gold/Phelps Dodge Corporation, to the following address:





  European Commission |
| --- | --- |
| Directorate-General for Competition |
| Merger Registry |
| J-70 |
| B-1049 Bruxelles/Brussel |

4.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax ((32-2) 296 43 01 or 296 72 44) or by post, under reference number COMP/M.4505 — Freeport-McMoRan Copper & Gold/Phelps Dodge Corporation, to the following address:

European Commission

Directorate-General for Competition

Merger Registry

J-70

B-1049 Bruxelles/Brussel

---

(1)  OJ L 24, 29.1.2004, p. 1.

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| 25.1.2007 | EN | Official Journal of the European Union | C 17/31 |
| --- | --- | --- | --- |

25.1.2007

EN

Official Journal of the European Union

C 17/31

---

Prior notification of a concentration

(Case COMP/M.4556 — Advent/Oxo)

Candidate case for simplified procedure

(Text with EEA relevance)

(2007/C 17/11)

| 1. | On 16 January 2007, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking Advent International Corporation (‘Advent’, USA) acquires within the meaning of Article 3(1)(b) of the Council Regulation control of the ‘oxo’ products and derivatives businesses (‘Oxo’, USA/Germany) currently controlled by Celanese Corporation and, partly, by Degussa AG, by way of purchase of shares and assets. |
| --- | --- |

1.

On 16 January 2007, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking Advent International Corporation (‘Advent’, USA) acquires within the meaning of Article 3(1)(b) of the Council Regulation control of the ‘oxo’ products and derivatives businesses (‘Oxo’, USA/Germany) currently controlled by Celanese Corporation and, partly, by Degussa AG, by way of purchase of shares and assets.

| 2. | The business activities of the undertakings concerned are:






  — | for Advent: private equity fund; |
| --- | --- | --- |

2.

The business activities of the undertakings concerned are:

—

for Advent: private equity fund;

| — | for Oxo: production and sale of key chemical building blocks an derivatives for diverse applications including coatings, inks, lubricants and plasticizers, mainly in Europe and North America. |
| --- | --- |

—

for Oxo: production and sale of key chemical building blocks an derivatives for diverse applications including coatings, inks, lubricants and plasticizers, mainly in Europe and North America.

| 3. | On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice. |
| --- | --- |

3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.

| 4. | The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
  Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax ((32-2) 296 43 01 or 296 72 44) or by post, under reference number COMP/M.4556 — Advent/Oxo, to the following address:





  European Commission |
| --- | --- |
| Directorate-General for Competition |
| Merger Registry |
| J-70 |
| B-1049 Bruxelles/Brussel |

4.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax ((32-2) 296 43 01 or 296 72 44) or by post, under reference number COMP/M.4556 — Advent/Oxo, to the following address:

European Commission

Directorate-General for Competition

Merger Registry

J-70

B-1049 Bruxelles/Brussel

---

(1)  OJ L 24, 29.1.2004, p. 1.

(2)  OJ C 56, 5.3.2005, p. 32.

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| 25.1.2007 | EN | Official Journal of the European Union | C 17/32 |
| --- | --- | --- | --- |

25.1.2007

EN

Official Journal of the European Union

C 17/32

---

Prior notification of a concentration

(Case COMP/M.4547 — KKR/Permira/Prosiebensat.1)

(Text with EEA relevance)

(2007/C 17/12)

| 1. | On 18 January 2007, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertakings Kohlberg Kravis Roberts & CO (‘KKR’, USA) and Permira Holdings Limited (‘Permira’, Channel Islands) acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the undertaking ProSiebenSat.1 Media AG (‘P7S1’, Germany) by way of purchase of shares. |
| --- | --- |

1.

On 18 January 2007, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertakings Kohlberg Kravis Roberts & CO (‘KKR’, USA) and Permira Holdings Limited (‘Permira’, Channel Islands) acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the undertaking ProSiebenSat.1 Media AG (‘P7S1’, Germany) by way of purchase of shares.

| 2. | The business activities of the undertakings concerned are:






  — | for undertaking KKR: private equity firm; |
| --- | --- | --- |

2.

The business activities of the undertakings concerned are:

—

for undertaking KKR: private equity firm;

| — | for undertaking Permira: private equity fund; |
| --- | --- |

—

for undertaking Permira: private equity fund;

| — | for undertaking P7S1: free-to-air television. |
| --- | --- |

—

for undertaking P7S1: free-to-air television.

| 3. | On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved. |
| --- | --- |

3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved.

| 4. | The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
  Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax ((32-2) 296 43 01 or 296 72 44) or by post, under reference number COMP/M.4547 — KKR/Permira/Prosiebensat.1, to the following address:





  European Commission |
| --- | --- |
| Directorate-General for Competition |
| Merger Registry |
| J-70 |
| B-1049 Bruxelles/Brussel |

4.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax ((32-2) 296 43 01 or 296 72 44) or by post, under reference number COMP/M.4547 — KKR/Permira/Prosiebensat.1, to the following address:

European Commission

Directorate-General for Competition

Merger Registry

J-70

B-1049 Bruxelles/Brussel

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(1)  OJ L 24, 29.1.2004, p. 1.

---