DECISION (EU) 2022/2522 OF THE EUROPEAN CENTRAL BANK

of 13 December 2022

amending Decision (EU) 2021/2255 on the approval of the volume of coin issuance in 2022 (ECB/2021/54) (ECB/2022/45)

the EXECUTIVE BOARD of the European Central Bank,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 128(2) thereof,

Having regard to Decision (EU) 2015/2332 of the European Central Bank of 4 December 2015 on the procedural framework for the approval of the volume of euro coin issuance (ECB/2015/43) (1), and in particular Article 3(7) thereof,

Whereas:

(1) The European Central Bank (ECB) has the exclusive right since 1 January 1999 to approve the volume of coins issued by the Member States whose currency is the euro.

(2) Based on the estimates of demand for euro coins in 2022 that the Member States whose currency is the euro submitted to the ECB, the ECB approved the total volume of euro coins intended for circulation and euro collector coins not intended for circulation in 2022 in Decision (EU) 2021/2255 of the European Central Bank (ECB/2021/54) (2).

(3) Pursuant to Article 3 of Decision (EU) 2015/2332 (ECB/2015/43), Member States whose currency is the euro must notify the ECB if the actual demand for euro coins is likely to exceed the approved volume of coin issuance in a calendar year and, where the increased coin demands continues, must request ad hoc approval for an additional volume of coin issuance in that calendar year.

(4) On 21 November 2022, the ECB received a request of Banque de France on behalf of France to increase the volume of euro coins that France may issue in 2022 by an additional volume of EUR 50,0 million, from EUR 249,0 million to EUR 299,0 million. The request was made in response to a significant increase of euro coin net issuance in France, which is expected to culminate in December 2022. The increase is driven in particular by a higher gross issuance of 1-euro, 2-euro and 50-cent coins in combination with a lower level of euro coins deposits. Increasing prices in combination with retailers giving change increasingly in euro coins have also contributed to a higher euro coin demand.

(5) Pursuant to Article 3(7) of Decision (EU) 2015/2332 (ECB/2015/43), the Executive Board must adopt an individual decision on the ad hoc approval request, when no modification to the ad hoc request is required.

(6) Therefore, Decision (EU) 2021/2255 (ECB/2021/54) should be amended accordingly,

HAS ADOPTED THIS DECISION:

Article 1 Amendment The table in Article 2 of Decision (EU) 2021/2255 (ECB/2021/54) is amended as follows: the row regarding France is replaced by the following: ‘France 249,00 50,00 299,00 ’.

Article 2 Taking effect This Decision shall take effect on the day of its notification to the addressees.

Article 3 Addressees This Decision is addressed to the Member States whose currency is the euro.

Done at Frankfurt am Main, 13 December 2022. The President of the ECB Christine LAGARDE

(1) OJ L 328, 12.12.2015, p. 123.

(2) Decision (EU) 2021/2255 of the European Central Bank of 7 December 2021 on the approval of the volume of coin issuance in 2022 (ECB/2021/54) (OJ L 454, 17.12.2021, p. 19).