Decision of the European Central Bank of 22 April 2004 on the national central banks’ percentage shares in the key for subscription to the European Central Bank’s capital (ECB/2004/5)
Date: 2004-04-22
Institutions: European Central Bank
Subjects: European Central Bank, European System of Central Banks, accession to the European Union, banking policy, central bank

9.6.2004

EN

Official Journal of the European Union

L 205/5

DECISION OF THE EUROPEAN CENTRAL BANK

of 22 April 2004
on the national central banks’ percentage shares in the key for subscription
to the European Central Bank’s capital

(ECB/2004/5)

(2004/502/EC)

THE GOVERNING 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
29.4 and Article 49.3 thereof,

Polski, Banka Slovenije and Národná banka Slovenska had
the opportunity to submit observations regarding this
Decision prior to its adoption,

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,

HAS DECIDED AS FOLLOWS:

Whereas:

(1)

(2)

(3)

(4)

Decision ECB/2003/17 of 18 December 2003 on the
national central banks percentage shares in the key for sub‐
scription to the European Central Bank’s capital (1) laid
down with effect from 1 January 2004 the weightings
assigned to those national central banks (NCBs) that were
part of the European System of Central Banks (ESCB) on
1 January 2004 in the key for subscription to the ECB’s
capital (hereinafter the ‘capital key weightings’ and the
‘capital key’ respectively).

In view of the accession of the Czech Republic, the Repub‐
lic of Estonia, the Republic of Cyprus, the Republic of
Latvia, the Republic of Lithuania, the Republic of Hungary,
the Republic of Malta, the Republic of Poland, the Repub‐
lic of Slovenia and the Slovak Republic to the European
Union and their respective NCBs becoming part of the
ESCB on 1 May 2004, the ECB’s subscribed capital should
automatically be increased pursuant to Article 49.3 of the
Statute. This increase requires the calculation of the capital
key weighting of each NCB that is part of the ESCB
on 1 May 2004 by analogy with Article 29.1 and in com‐
the Statute. The ECB’s
pliance with Article 29.2 of
expanded capital key and each NCB’s capital key weight‐
ing applies with effect from 1 May 2004.

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 Commission pro‐
vided the ECB with the statistical data to be used in deter‐
mining the expanded capital key.

In view of Article 3.3 of the Rules of Procedure of the Gen‐
eral Council of the European Central Bank and in view of
the General Council’s contribution to this Decision, the
Governors of Česká národní banka, Eesti Pank, the Central
Bank of Cyprus, Latvijas Banka, Lietuvos bankas, Magyar
Nemzeti Bank, the Central Bank of Malta, Narodowy Bank

(1) OJ L 9, 15.1.2004, p. 27.
(2) OJ L 181, 19.7.2003, p. 43.

Article 1

Rounding

Where the European Commission provides revised statistical data
to be used in expanding 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) if the total is above 100 %, by subtracting 0,0001 of a per‐
centage point in descending order from the largest share(s) until
exactly 100 % is reached.

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 May 2004:

Nationale Bank van België/Banque Nationale de
Belgique

Česká národní banka

Danmarks Nationalbank

Deutsche Bundesbank

Eesti Pank

Bank of Greece

Banco de España

Banque de France

Central Bank and Financial Services Authority
of Ireland

Banca d’Italia

2,5502 %

1,4584 %

1,5663 %

21,1364 %

0,1784 %

1,8974 %

7,7758 %

14,8712 %

0,9219 %

13,0516 %

L 205/6

EN

Official Journal of the European Union

9.6.2004

Central Bank of Cyprus

Latvijas Banka

Lietuvos bankas

Banque centrale du Luxembourg

Magyar Nemzeti Bank

Central Bank of Malta

De Nederlandsche Bank

Oesterreichische Nationalbank

Narodowy Bank Polski

Banco de Portugal

Banka Slovenije

Národná banka Slovenska

Suomen Pankki

Sveriges Riksbank

Bank of England

0,1300 %

0,2978 %

0,4425 %

0,1568 %

1,3884 %

0,0647 %

3,9955 %

2,0800 %

5,1380 %

1,7653 %

0,3345 %

0,7147 %

1,2887 %

2,4133 %

14,3822 %

Article 3

Final provisions

1.

This Decision shall enter into force on 23 April 2004.

Decision ECB/2003/17 is hereby repealed with effect

2.
from 1 May 2004.

Done at Frankfurt am Main, 22 April 2004.

The President of the ECB

Jean‐Claude TRICHET