Consolidated version of Decision ECB/2001/7 of the European Central Bank of 30 August 2001 on the denominations, specifications, reproduction, exchange and withdrawal of euro banknotes, as amended by Decision ECB/2001/14
Date: 2002-01-09
Institutions: European Central Bank
Subjects: European Central Bank, euro, issue of securities, paper money, technical specification

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Official Journal of the European Communities

9.1.2002

EUROPEAN CENTRAL BANK

Consolidated version of Decision ECB/2001/7 of the European Central Bank of 30 August 2001 on
the denominations, specifications, reproduction, exchange and withdrawal of euro banknotes, as
amended by Decision ECB/2001/14

(2002/C 6/07)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty establishing the European
Community (hereinafter referred to as the (cid:145)Treaty(cid:146)) 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 (cid:145)Statute(cid:146)).

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) 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 denominations
and specifications of the euro banknotes.

(2) Such details may be provided by means of a decision of
the European Central Bank, published for general
information in the Official
the European
Communities.

Journal

of

(3) 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 denomi-
nations of
to
EUR 2.

the euro coins will range from 1 cent

(4) The denominations of the euro banknotes should take

into account the denominations of the euro coins.

(5) 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,
competition
a Europe-wide
between banknote designers.

results of

the

(6) 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 recog-
the new banknote denomi-
nition and acceptance of
nations and specifications by users.

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

(8)

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

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

(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 participating
Member States are prepared to exchange mutilated or
damaged euro banknotes needs to be established.

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

(13) The publication of announcements in the Official Journal of
the European Communities may be accompanied by other
means of publication that may facilitate due acknowl-
edgement by the general public.

(14) 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.

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HAS ADOPTED THIS DECISION:

Article 1

Denominations and specifications

The first series of euro banknotes shall

1.
EUR 500, depicting the theme (cid:145)Ages and styles of Europe(cid:146), with the following basic specifications.

include seven denominations in the range of EUR 5 to

Face value
(EUR)

Dimensions

Dominant colour

120 (cid:215) 62 mm

127 (cid:215) 67 mm

133 (cid:215) 72 mm

140 (cid:215) 77 mm

147 (cid:215) 82 mm

Grey

Red

Blue

Orange

Green

5

10

20

50

100

200

500

Design

Classical

Romanesque

Gothic

Renaissance

Baroque and rococo

153 (cid:215) 82 mm

Yellow-brown

Iron and glass architecture

160 (cid:215) 82 mm

Purple

Modern 20th century architecture

The seven denominations in the euro banknote series shall bear the representation of gateways and
2.
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 euro banknotes

NCBs of participating Member States shall, upon request, and under the conditions laid down in

1.
paragraph 2, exchange mutilated or damaged legal tender euro banknotes in the following cases:

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

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

been destroyed.

The exchange of mutilated or damaged legal tender euro banknotes shall be granted under the

2.
following conditions:

(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) written explanations of

the kind of

stain, contamination or

impregnation when ink-stained,

contaminated or impregnated banknotes are presented;

(c) a written statement on the cause and kind of neutralisation when banknotes are submitted by
professional banknote handlers, such as credit institutions as defined in Article 1(1)(a) of Directive
2000/12/EC of the European Parliament and of the Council of 20 March 2000 relating to the taking
up and pursuit of the business of credit institutions (1), as amended by Directive 2000/28/EC (2)
(hereinafter referred to as (cid:145)credit institutions(cid:146)), cash in transit companies and bureaux de change, if
the banknotes have been discoloured by activated anti-theft devices.

3. Where NCBs know or have sufficient reason to believe that a criminal offence has been committed or
that the banknotes have been intentionally mutilated or damaged, they shall refuse to exchange them.

Where NCBs know or have sufficient reason to believe that a criminal offence has been committed, they
shall withhold against acknowledgement of receipt the mutilated or damaged banknotes as evidence to be
presented to the competent authorities to initiate or to support an ongoing criminal investigation. Unless
otherwise decided by the competent authorities, the banknotes shall be returned to the applicant at the end
of the investigation and shall thereafter qualify for exchange. Where NCBs know or have sufficient reason
to believe that the banknotes have been intentionally mutilated or damaged, they shall withhold the
banknotes, in order to avoid the return of such banknotes into circulation or to prevent the applicant
from presenting them to another NCB for exchange.

Article 3a

Establishment of a fee for the exchange of mutilated or damaged euro banknotes

NCBs shall charge professional banknote handlers, such as credit

1.
institutions, cash in transit
companies and bureaux de change, a fee when they request NCBs in accordance with Article 3(1) to
exchange legal tender euro banknotes that have been mutilated or damaged by using anti-theft devices.

2.

The fee shall amount to 10 cent per mutilated or damaged euro banknote.

The fee shall only be charged if at least 100 mutilated or damaged euro banknotes are exchanged.

3.
The fee shall be charged for all exchanged banknotes.

No fee shall be charged where euro banknotes have been mutilated or damaged in connection with

4.
attempted or committed robbery or theft.

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:

(cid:151) the euro banknote type or series to be withdrawn from circulation,

(1) OJ L 126, 26.5.2000, p. 1.
(2) OJ L 275, 27.10.2000, p. 37.

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(cid:151) the duration of the exchange period,

(cid:151) the date on which the euro banknote type or series will lose its legal tender status,

(cid:151) 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.

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