Decision of the Board of Governors of 11 June 1990 on the increase in the Bank's capital
Date: 1990-06-11
Institutions: Board of Governors of the European Investment Bank
Subjects: European Investment Bank, capital increase, decision-making body (EU)













EUR-Lex - 31990D1231(01) - EN






Avis juridique important




|



31990D1231(01)

Decision of the Board of Governors of 11 June 1990 on the increase in the Bank's capital  


Official Journal L 377 , 31/12/1990 P. 0001 - 0002 





DECISION OF THE BOARD OF GOVERNORS  of 11 June 1990  on the increase in the  Bank's capitalTHE BOARD OF GOVERNORS OF THE EUROPEAN INVESTMENT BANK, -  Pursuant to the general principles common to the laws of the Member States; -  pursuant to Articles 4 (3) and 5 (2) of the Statute; -  Having regard to the conclusions of the Board of Directors at its meeting on 3 April 1990, on  proposals from the Management Committee, UNANIMOUSLY DECIDES THAT: 1.  Additional reserves of the Bank in the amount of  ECU 1  225 million are to be considered as free reserves; 2.  This amount be transformed into fully paid-in capital by way of a transfer from the Bank's  additional reserves to its capital; 3.  This capital be deemed to be subscribed and paid-in capital from 1 January 1991, so increasing  the Bank's subscribed capital from ECU 28  800 million to ECU 30  025 million; 4.  The capital subscribed by Member States be further raised, also with effect from 1 January  1991, from ECU 30  025 million to ECU 57  600 million so as to arrive, after taking into account  the aforesaid contributions, at the following amounts (expressed in ecus): Germany 11  017  450  000  France 11  017  450  000  Italy 11  017  450  000  United Kingdom 11  017  450  000  Spain 4  049  856  000  Belgium 3  053  960  000  Netherlands 3  053  960  000  Denmark 1  546  308  000  Greece 828  380  000  Portugal 533  844  000  Ireland 386  576  000  Luxembourg 77  316  000   57  600  000  000    5.  The new amount of subscribed capital shall, in the absence of unforeseen developments, cover  the period to at least the end of 1995; 6.  Each Member State shall pay in, in ecus or in its national curency, 1,81323663  % of its share  in the subscribed capital increase of ECU 27  575  000  000 for an aggregate total of ECU 500  000   000 in 10 equal semi-annual instalments beginning on 30 April 1994 and ending on 31 October 1998; 7.  The exchange rates employed for converting into ecu the national currencies used for payments  shall be those effective on the last working day of the month preceding the date of payment; 8.  The capital increase of ECU 1  225  000  000 in subscribed and fully paid-in capital, funded  with the transfer from the Bank's additional reserves, will not give rise to maintenance of value  payments as per Article 7 of the Statute. 9.  CONSEQUENTLY  9.1.  From 1 January 1991, the first paragraph of Article 4 (1) of the Statute shall read as  follows: 'The capital of the Bank shall be fifty-seven thousand six hundred million ECU, subscribed by  Member States as follows: Germany 11  017  450  000   France 11  017  450  000   Italy 11  017  450  000   United Kingdom 11  017  450  000   Spain 4  049  856  000   Belgium 3  053  960  000   Netherlands 3  053  960  000   Denmark 1  546  308  000   Greece 828  380  000   Portugal 533  844  000   Ireland 386  576  000   Luxembourg 77  316  000`  9.2.  From 1 January 1991, Article 5 (1) of the Statute shall read as follows: 'The subscribed capital shall be paid in by Member States to the extent of 7,50162895  % on  average of the amounts laid down in Article 4 (1)`; 10.  This Decision shall take effect from 1 January 1991. 11.  This Decision shall be published in the Official Journal of the European Communities.  For the Board of Governors  The President  P. BÉRÉGOVOY  The Secretary  D. HARTWICH