2003/776/EC: Decision of the European Central Bank of 23 October 2003 amending Decision ECB/2002/12 of 19 December 2002 on the approval of the volume of coin issuance in 2003 (ECB/2003/13)
Date: 2003-10-23
Institutions: European Central Bank
Subjects: European Central Bank, euro, issuing of currency, participating country (euro area)

31.10.2003

EN

Official Journal of the European Union

L 283/87

DECISION OF THE EUROPEAN CENTRAL BANK

of 23 October 2003

amending Decision ECB/2002/12 of 19 December 2002 on the approval of the volume of coin
issuance in 2003

(ECB/2003/13)

(2003/776/EC)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty establishing the European Com-
munity, and in particular Article 106(2) thereof,

Whereas:

(1)

(2)

(3)

(4)

(5)

(6)

Since 1 January 1999 the European Central Bank (ECB)
has the exclusive right to approve the volume of euro
coins that the Member States that have adopted the euro
(hereinafter ‘the participating Member States’) may issue.

Based on the estimates of the evolution of demand for
euro coins in 2003 that the participating Member States
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 2003 in
Decision ECB/2002/12 of 19 December 2002 on the
approval of the volume of coin issuance in 2003 (1).

In some participating Member States
the estimates
underlying Decision ECB/2002/12 were insufficient due
to unstable demand for euro coins after the 2002 cash
changeover, as well as to unforeseen economic develop-
ments. As a result, these participating Member States
now have to obtain the ECB's approval for the issuance
of additional euro coins in 2003.

On 3 September 2003 the
French Ministry of
Economics, Finance and Industry requested the ECB's
approval of an increase of EUR 600 million in the
volume of euro coins intended for circulation and that
France may issue in 2003.

On 11 September 2003 the Central Bank and Financial
Services Authority of Ireland, as the appointed agent of
the Irish Department of Finance, requested the ECB's
approval of an increase of EUR 40 million in the
volume of euro coins intended for circulation and that
Ireland may issue in 2003.

On 23 September 2003 the
Italian Ministry of
Economics and Finance requested the ECB's approval of
an increase of EUR 40 million in the volume of euro
coins intended for circulation and that Italy may issue in
2003.

(1) OJ L 358, 31.12.2002, p. 144.

(7)

(8)

On 17 September 2003 the Oesterreichische National-
bank requested the ECB's approval of an increase of
EUR 40 million in the volume of euro coins intended
for circulation and that Austria may issue in 2003.

The ECB approves the abovementioned requests for
increases in the volume of euro coins intended for circu-
lation that France, Ireland, Italy and Austria may issue in
2003. As a result, the table in Article 1 of Decision ECB/
2002/12 needs to be replaced,

HAS DECIDED AS FOLLOWS:

Article 1

Decision ECB/2002/12 is amended as follows:

The table in Article 1 is replaced with the following:

‘(million EUR)

Issuance of coins intended for
circulation and issuance of
collector coins (not intended for
circulation) in 2003

Belgium

Germany

Greece

Spain

France

Ireland

Italy

Luxembourg

Netherlands

Austria

Portugal

Finland

246,9

1 475,0

116,4

939,0

667,5

140,6

155,6

150,0

85,0

156,0

278,0

300,0’

L 283/88

EN

Official Journal of the European Union

31.10.2003

This Decision is addressed to the participating Member States.

This Decision will be published in the Official Journal of the European Union.

Article 2

Done at Frankfurt am Main, 23 October 2003.

The President of the ECB

Willem F. DUISENBERG