2004/45/EC: Decision of the European Central Bank of 18 December 2003 laying down the measures necessary for the paying-up of the European Central Bank's capital by the non-participating national central banks (ECB/2003/19)
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 9/31

DECISION OF THE EUROPEAN CENTRAL BANK

of 18 December 2003

laying down the measures necessary for the paying-up of the European Central Bank's capital by
the non-participating national central banks

(ECB/2003/19)

(2004/45/EC)

THE GENERAL COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Statute of the European System of Central
Banks and of the European Central Bank and in particular
Article 48 thereof,

Whereas:

(1)

(2)

(3)

Decision ECB/1998/14 of 1 December 1998 laying
down the measures necessary for the paying-up of the
capital of the European Central Bank by the non-partici-
pating national central banks (1), determined the percen-
tage of the subscription to the European Central Bank's
(ECB's) capital which the national central banks (NCBs)
of the Member States not intending to adopt the euro on
1 January 1999 had to pay up as a contribution to the
ECB's operational costs.

Decision ECB/2003/17 of 18 December 2003 on the
national central banks' percentage shares in the key for
subscription to the European Central Bank's capital (2)
adjusts with effect from 1 January 2004 the weightings
assigned to the NCBs in the key for subscription to the
ECB's capital (hereinafter the capital key weightings and
the capital key respectively).

The adjusted capital key requires the adoption of a new
ECB decision repealing Decision ECB/1998/14 with
effect from 1 January 2004 and determining the percen-
tage of the subscription to the ECB's capital which the
NCBs of the Member States that will not have adopted
the euro by 1 January 2004 (hereinafter the non-partici-
pating NCBs) should pay up on 1 January 2004,

HAS ADOPTED THIS DECISION:

Article 1

ECB/2003/17, each non-participating NCB shall therefore pay
up on 1 January 2004 the amount shown next to its name in
the following table:

Non-participating NCB

— Danmarks Nationalbank:

— Sveriges Riksbank:

— Bank of England:

EUR 4 304 000

EUR 6 659 000

EUR 39 941 000

Article 2

Adjustment of paid-up capital

Each non-participating NCB has already paid up 5 % of its
share in the ECB's subscribed capital on 1 June 1998 under
Decision ECB/1998/14. In view of this, either a non-partici-
pating NCB shall transfer an additional amount to the ECB, or
the ECB shall transfer an amount back to a non-participating
NCB, as appropriate, in order to arrive at the amounts set out
in the table in Article 1. These transfers shall be made
according to the terms and conditions set out in Decision ECB/
2003/20 of 18 December 2003 laying down the terms and
conditions for transfers of the European Central Bank's capital
shares between the national central banks and adjustment of
the paid-up capital (3).

Article 3

Final provisions

Decision ECB/1998/14 is hereby repealed with effect

1.
from 1 January 2004.

This Decision shall enter into force on 19 December

2.
2003.

This Decision will be published in the Official Journal of

3.
the European Union.

Extent and form of paid-up capital

Done at Frankfurt am Main, 18 December 2003.

Each non-participating NCB shall pay up 5 % of its subscription
to the ECB's capital on 1 January 2004. Taking into account
the capital key weightings described in Article 2 of Decision

For the General Council of the ECB

Jean-Claude TRICHET

(1) OJ L 110, 28.4.1999, p. 33.
(2) See page 27 of this Official Journal.

(3) See page 32 of this Official Journal.