2004/49/EC: Decision of the European Central Bank of 18 December 2003 amending Decision ECB/2001/15 of 6 December 2001 on the issue of euro banknotes (ECB/2003/23)
Date: 2003-12-18
Institutions: European Central Bank
Subjects: EU Member State, European Central Bank, central bank, euro, issuing of currency

L 9/40

EN

Official Journal of the European Union

15.1.2004

DECISION OF THE EUROPEAN CENTRAL BANK

of 18 December 2003

amending Decision ECB/2001/15 of 6 December 2001 on the issue of euro banknotes

(ECB/2003/23)

(2004/49/EC)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

‘subscribed capital key’ in order to avoid future amend-
ments to Decision ECB/2001/15 each time the ECB's
capital key is adjusted,

Having regard to the Treaty establishing the European Com-
munity and in particular Article 106(1) thereof, and to the
Statute of the European System of Central Banks and of the
European Central Bank and in particular Article 16 thereof,

Having regard to Decision ECB/2001/15 of 6 December 2001
on the issue of euro banknotes (1),

HAS ADOPTED THIS DECISION:

Whereas:

Article 1

(1)

(2)

(3)

(4)

Article 1(c) of Decision ECB/2001/15 defines ‘subscribed
capital key’ by reference to Decision ECB/1998/13 of 1
December 1998 on the national central banks' percen-
tage shares in the key for the capital of the European
Central Bank (2).

Amendments to Decision ECB/2001/15

Decision ECB/2001/15 is amended as follows:

1. Article 1(c) is replaced by the following:

Article 1(d) of Decision ECB/2001/15 defines the ‘bank-
note allocation key’ by reference to the Annex to Deci-
sion ECB/2001/15 which specifies the key applying on 1
January 2002.

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 (3)
repeals Decision ECB/1998/13 with effect
from 1
January 2004 and lays down the new weightings
assigned to the national central banks (NCBs) in the key
for subscription to the ECB's capital.

Decision ECB/2001/15 needs to be amended accordingly
to determine the banknote allocation key
in order
applying from 1 January 2004. The amendment should
term
also introduce

general definition of

the

a

‘(c) “subscribed capital key” shall mean the NCBs' shares
subscribed
(expressed as percentages)
from applying to the NCBs the
capital
weightings in the key referred to in Article 29.1 of the
Statute and as applicable for the relevant financial year;’

in the ECB's

result

that

2. Article 1(d) is replaced by the following:

total

issue

euro banknote

‘(d) “banknote allocation key” shall mean the percentages
that result from taking into account the ECB's share in
the
and applying the
subscribed capital key (rounded to the nearest multiple
of 0,0005 percentage point) to the NCBs' share in such
total. Where the resulting percentages do not
total
100 %, the difference shall be compensated for: (i) if the
total is below 100 %, by adding 0,0005 of a percentage
point to the smallest share(s) in ascending order until
exactly 100 % is reached, or (ii) if the total is above
100 %, by subtracting 0,0005 of a percentage point in
descending order from the largest share(s) until exactly
100 % is reached. The Annex to this Decision specifies
the banknote allocation key applying from 1 January
2004.’

(1) OJ L 337, 20.12.2001, p. 52.
(2) OJ L 125, 19.5.1999, p. 33.
(3) See page 27 of this Official Journal.

3. The Annex to Decision ECB/2001/15 is replaced by the text

set out in the Annex to this Decision.

15.1.2004

EN

Official Journal of the European Union

L 9/41

Article 2

Final provisions

1.

2.

This Decision shall enter into force on 1 January 2004.

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

Done at Frankfurt am Main, 18 December 2003.

For the Governing Council of the ECB

Jean-Claude TRICHET

ANNEX

BANKNOTE ALLOCATION KEY ON 1 JANUARY 2004

(in %)

European Central Bank

Nationale Bank van België/Banque Nationale de Belgique

Deutsche Bundesbank

Bank of Greece

Banco de España

Banque de France

Central Bank and Financial Services Authority of Ireland

Banca d'Italia

Banque centrale du Luxembourg

De Nederlandsche Bank

Oesterreichische Nationalbank

Banco de Portugal

Suomen Pankki

8,0000

3,2690

27,0365

2,4970

10,1430

19,0815

1,1845

16,8345

0,1975

5,1205

2,6590

2,3255

1,6515

Total

100,0000