2004/43/EC: Decision of the European Central Bank of 18 December 2003 on the national central banks' percentage shares in the key for subscription to the European Central Bank's capital (ECB/2003/17)
Date: 2003-12-18
Institutions: European Central Bank
Subjects: European Central Bank, European System of Central Banks, Member States' contribution, banking, banking policy, central bank

15.1.2004

EN

Official Journal of the European Union

L 9/27

EUROPEAN CENTRAL BANK

DECISION OF THE EUROPEAN CENTRAL BANK

of 18 December 2003

on the national central banks' percentage shares in the key for subscription to the European
Central Bank's capital

(ECB/2003/17)

(2004/43/EC)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

HAS ADOPTED THIS DECISION:

Having regard to the Statute of the European System of Central
Banks and of the European Central Bank and in particular Arti-
cles 29.3 and 29.4 thereof,

Having regard to the contribution of the General Council of
the European Central Bank (ECB) in accordance with the fourth
indent of Article 47.2 of the Statute,

Whereas:

(1)

(2)

(3)

(4)

Decision ECB/1998/13 of 1 December 1998 on the
national central banks' percentage shares in the key for
the capital of the European Central Bank (1) laid down
with effect from 1 June 1998 the weightings assigned to
the national central banks
in the key for
subscription to the ECB's capital (hereinafter the capital
key weightings and the capital key respectively).

(NCBs)

Article 29.3 of
the Statute requires the capital key
weightings to be adjusted every five years after the estab-
lishment of the European System of Central Banks by
analogy with the provisions laid down in Article 29.1 of
the Statute. The adjusted capital key applies with effect
from the first day of the year following the year in
which the adjustment occurs.

In accordance with Council Decision 2003/517/EC of
15 July 2003 on the statistical data to be used for the
adjustment of the key for subscription to the capital of
the European Central Bank (2), the European Commis-
sion provided the ECB with the statistical data to be used
in determining the adjusted capital key.

The ECB's net profits or losses (if any) for the financial
year 2003 should be allocated and distributed pursuant
to Article 33.1(b) and Article 33.2 of the Statute and in
accordance with the capital key weightings applicable on
31 December 2003. The same should apply to the allo-
cation of the NCBs' monetary income pursuant to Article
32.1 of the Statute, the distribution of the ECB's seignio-
the remuneration on the NCBs' claims
rage income,
equivalent to the foreign reserve assets transferred to the
ECB and the remuneration on the intra-Eurosystem
balances on euro banknotes in circulation,

(1) OJ L 125, 19.5.1999, p. 33.
(2) OJ L 181, 19.7.2003, p. 43.

Article 1

Rounding

Where the European Commission provides revised statistical
data to be used in adjusting the capital key and the figures do
not total 100 %, the difference shall be compensated for: (i) if
the total is below 100 %, by adding 0,0001 of a percentage
point to the smallest share(s) in ascending order until exactly
100 % is reached, or (ii)
is above 100 %, by
subtracting 0,0001 of a percentage point in descending order
from the largest share(s) until exactly 100 % is reached.

the total

if

Article 2

Capital key weightings

The weighting assigned to each NCB in the capital key
described in Article 29 of the Statute shall be as follows with
effect from 1 January 2004:

— Nationale

Bank

van

België/Banque

2,8297 %

Nationals de Belgique

— Danmarks Nationalbank

— Deutsche Bundesbank

— Bank of Greece

— Banco de España

— Banque de France

1,7216 %

23,4040 %

2,1614 %

8,7801 %

16,5175 %

— Central Bank and Financial Services

1,0254 %

Authority of Ireland

— Banca d'Italia

— Banque centrale du Luxembourg

— De Nederlandsche Bank

14,5726 %

0,1708 %

4,4323 %

L 9/28

EN

Official Journal of the European Union

15.1.2004

— Oesterreichische Nationalbank

— Banco de Portugal

— Suomen Pankki

— Sveriges Riksbank

— Bank of England

Article 3

Final and transitional provisions

2,3019 %

2,0129 %

1,4298 %

2,6636 %

15,9764 %

system balances on euro banknotes in circulation, in relation to
the financial year 2003 shall be allocated and distributed in
accordance with the capital key weightings applicable on 31
December 2003.

This Decision shall enter into force on 19 December

3.
2003.

This Decision will be published in the Official Journal of

4.
the European Union.

Decision ECB/1998/13 is hereby repealed with effect

1.
from 1 January 2004.

2.
Each of the ECB's net profits or losses (if any), the NCBs'
monetary income, the ECB's seigniorage income, the remunera-
tion on the NCBs' claims equivalent to the foreign reserve assets
transferred to the ECB and the remuneration on the intra-Euro-

Done at Frankfurt am Main, 18 December 2003.

For the Governing Council of the ECB

Jean-Claude TRICHET