2001/667/EC: Decision of the European Central Bank of 30 August 2001 on the denominations, specifications, reproduction, exchange and withdrawal of euro banknotes (ECB/2001/7)
Date: 2001-08-30
Institutions: European Central Bank
Subjects: euro, issue of securities, paper money, reprography, technical specification, withdrawal from the market

31.8.2001

EN

Official Journal of the European Communities

L 233/55

EUROPEAN CENTRAL BANK

DECISION OF THE EUROPEAN CENTRAL BANK

of 30 August 2001

on the denominations, specifications, reproduction, exchange and withdrawal of euro banknotes

(ECB/2001/7)

(2001/667/EC)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL
BANK,

Having regard to the Treaty establishing the European
Community (hereinafter referred to as the ‘Treaty’) and in
particular to Article 106(1) thereof and to Article 16 of the
Statute of the European System of Central Banks and of the
European Central Bank (hereinafter referred to as the ‘Statute’).

Having regard to Council Regulation (EC) No 974/98 of 3 May
1998 on the introduction of the euro (1) and in particular to
Articles 10 and 16 thereof,

Whereas:

(1)

(2)

(3)

(4)

(5)

(6)

The provisions of Article 106(1) of the Treaty, Article
16 of the Statute and Article 10 of Regulation (EC) No
974/98 require more precise details on the denomina-
tions and specifications of the euro banknotes.

Such details may be provided by means of a decision of
the European Central Bank, published for general infor-
mation in the Official Journal of the European Communities.

Council Regulation (EC) No 975/98 of 3 May 1998 on
denominations and technical specifications of euro coins
intended for circulation (2) stipulates that the denomina-
tions of the euro coins will range from 1 cent to EUR 2.

The denominations of the euro banknotes should take
into account the denominations of the euro coins.

The present Decision takes into account the preparatory
work carried out by the European Monetary Institute
in particular with regard to the banknote
(EMI) and,
designs,
the results of a Europe-wide competition
between banknote designers.

Such preparatory work included consultations with
European associations of several categories of banknote
users in order to take into account their specific visual

and technical requirements and to facilitate the recogni-
tion and acceptance of the new banknote denominations
and specifications by users.

The European Central Bank (ECB) is the recipient of the
copyright on the designs of the euro banknotes, origi-
nally held by the EMI.

It is necessary to establish some common guiding princi-
ples according to which the reproduction of the designs
of banknotes will be permitted.

A general authorisation should be given by virtue of the
present Decision to all
reproductions falling within
certain criteria.

(7)

(8)

(9)

(10)

It is appropriate that the reproduction rules allow repro-
ductions only if they are one-sided, in order to reduce
the risk of the general public confusing reproductions of
euro banknotes with genuine banknotes.

(11) A common regime under which the NCBs of partici-
pating Member States are prepared to exchange muti-
lated or damaged euro banknotes needs to be estab-
lished.

(12)

(13)

(14)

The need to establish a common regime also applies to
the final withdrawal of banknotes when these are to be
replaced by new banknotes.

The publication of announcements in the Official Journal
of
the European Communities may be accompanied by
other means of publication that may facilitate due
acknowledgement by the general public.

It is appropriate, for reasons of clarity and rationality, to
consolidate Decision ECB/1998/6 of 7 July 1998 on the
denominations, specifications, reproduction, exchange
and withdrawal of euro banknotes (3), as amended by
Decision ECB/1999/2 (4),

(1) OJ L 139, 11.5.1998, p. 1.
(2) OJ L 139, 11.5.1998, p. 6.

(3) OJ L 8, 14.1.1999, p. 36.
(4) OJ L 258, 5.10.1999, p. 29.

L 233/56

EN

Official Journal of the European Communities

31.8.2001

HAS ADOPTED THIS DECISION:

Article 1

Denominations and specifications

The first series of euro banknotes shall

1.
EUR 500, depicting the theme ‘Ages and styles of Europe’, with the following basic specifications.

include seven denominations in the range of EUR 5 to

Face value
(EUR)

Dimensions

Dominant colour

120 × 62 mm

127 × 67 mm

133 × 72 mm

140 × 77 mm

147 × 82 mm

Grey

Red

Blue

Orange

Green

5

10

20

50

100

200

500

Design

Classical

Romanesque

Gothic

Renaissance

Baroque and rococo

153 × 82 mm

Yellow-brown

Iron and glass architecture

160 × 82 mm

Purple

Modern 20th century architecture

2.
The seven denominations in the euro banknote series shall bear the representation of gateways and
windows on the recto and bridges on the verso. All seven denominations shall be typical of the different
European artistic periods referred to above. Other elements of the designs shall include: the symbol of the
European Union; the name of the currency in the Roman and Greek alphabets; the initials of the ECB in
their official language variants; the  symbol to indicate the copyright protection; and the signature of the
President of the ECB.

Article 2

Reproduction

1.

The copyright on the banknotes specified in Article 1 shall belong to the ECB.

The reproduction of all or part of a banknote specified in Article 1 shall be authorised in the

2.
following cases:

(a) for photographs, drawings, paintings, films, and generally for any type of image in which the focus is
not the banknotes or reproductions themselves and which do not provide a close-up view of the
banknote designs;

(b) for one-sided reproductions, provided these are more than 125 % or less than 75 % of both the length
and the width of the respective banknote as specified in Article 1, irrespective of the material used for
the reproduction.

General authorisation of reproductions under the above rules may be cancelled in the event of a

3.
conflict with the unalienable moral rights of the author of the banknote designs.

Article 3

Exchange of mutilated or damaged banknotes

NCBs of participating Member States shall, upon request, exchange mutilated or damaged legal tender

1.
euro banknotes in the following cases:

(a) when more than 50 % of the banknote is presented;

(b) when 50 % or less of the banknote is presented if the applicant proves that the missing parts have been

destroyed.

31.8.2001

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Official Journal of the European Communities

L 233/57

2.

The exchange of mutilated or damaged banknotes shall require:

(a) identification of the applicant in cases of doubt as to the applicant's legal title to the banknotes and the

authenticity of the banknotes;

(b) upon reasonable suspicion that a criminal offence has been committed or that the banknote has been
intentionally mutilated or damaged, written explanations with regard to the cause of the mutilation or
damage and what has become of the missing parts of the banknote;

(c) written explanations of the kind of stain, contamination or impregnation when ink-stained, contami-

nated or impregnated banknotes are presented;

(d) a written statement on the cause and kind of neutralisation when banknotes are submitted by credit

institutions if they have been discoloured by activated anti-theft devices;

(e) payment by the applicant of the fee that the ECB may establish in cases of labour-intensive analysis by

NCBs.

Article 4

Withdrawal of banknotes

The withdrawal of a euro banknote type or series shall be regulated by a decision of the Governing Council
published for general information in the Official Journal of the European Communities and other media. This
Decision shall cover, as a minimum, the following points:

— the euro banknote type or series to be withdrawn from circulation,

— the duration of the exchange period,

— the date on which the euro banknote type or series will

lose its legal tender status,

— the treatment of the euro banknotes presented once the withdrawal period is over and/or they have lost

their legal tender status.

Article 5

Final provisions

1.

2.

Decisions ECB/1998/6 and ECB/1999/2 are hereby repealed.

References to the repealed Decisions shall be construed as references to this Decision.

Article 1(4) of Guideline ECB/1999/3 of 7 July 1998 on certain provisions regarding euro banknotes,

3.
as amended on 26 August 1999 (1),

is hereby repealed.

4.

This Decision shall be published on the ECB website.

This Decision shall enter into force on the day of its publication in the Official Journal of the European

5.
Communities.

Done at Frankfurt am Main, 30 August 2001.

The President of the ECB

Willem F. DUISENBERG

(1) OJ L 258, 5.10.1999, p. 32.