Decision of the European Central Bank of 23 April 2004 laying down the measures necessary for the paying-up of the European Central Bank’s capital by the non-participating national central banks (ECB/2004/10)
Date: 2004-04-23
Institutions: European Central Bank
Subjects: European Central Bank, European System of Central Banks, Member States' contribution, banking, banking policy, central bank

9.6.2004

EN

Official Journal of the European Union

L 205/19

DECISION OF THE EUROPEAN CENTRAL BANK

of 23 April 2004
laying down the measures necessary for the paying‐up of the European Central Bank’s capital by the
non‐participating national central banks

(ECB/2004/10)

(2004/507/EC)

THE GENERAL COUNCIL OF THE EUROPEAN CENTRAL BANK,

(5)

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

In view of Article 3.3 of the Rules of Procedure of the Gen‐
eral Council of the European Central Bank, 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 Polski,
Banka Slovenije and Národná banka Slovenska had the
opportunity to submit observations regarding this Deci‐
sion prior to its adoption,

Whereas:

(1)

(2)

(3)

(4)

Decision ECB/2003/19 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 (1), determined the percentage of the sub‐
scription to the European Central Bank’s (ECB’s) capital
which the national central banks (NCBs) of the Member
States that would not have adopted the euro on 1 January
2004 should pay up on 1 January 2004 as a contribution
to the ECB’s operational costs.

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
European System of Central Banks (ESCB) on 1 May 2004,
Decision ECB/2004/5 of 22 April 2004 on the national
central banks’ percentage shares in the key for subscription
to the European Central Bank’s capital (2) establishes with
effect from 1 May 2004 the weightings assigned to each
NCB that is part of the ESCB on 1 May 2004 in the key for
subscription to the ECB’s capital (hereinafter the capital key
weightings and the capital key respectively).

The ECB’s subscribed capital will be EUR 5564 669 247,19
from 1 May 2004.

The expanded capital key requires the adoption of a new
ECB decision repealing Decision ECB/2003/19 with effect
from 1 May 2004 and determining the percentage of the
subscription to the ECB’s capital which the NCBs of the
Member States that will not have adopted the euro by
1 May 2004 (hereinafter the non‐participating NCBs)
should pay up on 1 May 2004.

(1) OJ L 9, 15.1.2004, p. 31.
(2) See page 5 of this Official Journal.

HAS DECIDED AS FOLLOWS:

Article 1

Extent and form of paid‐up capital

Each non‐participating NCB shall pay up 7 % of its subscription
to the ECB’s capital on 1 May 2004. Taking into account the capi‐
tal key weightings described in Article 2 of Decision ECB/2004/5,
each non‐participating NCB shall therefore pay up on 1 May 2004
the amount shown next to its name in the following table:

Non‐participating NCBs

Česká národní banka

Danmarks Nationalbank

Eesti Pank

Central Bank of Cyprus

Latvijas Banka

Lietuvos bankas

Magyar Nemzeti Bank

Central Bank of Malta

Narodowy Bank Polski

Banka Slovenije

Národná banka Slovenska

Sveriges Riksbank

Bank of England

(EUR)

5 680 859,54

6 101 159,01

694 915,90

506 384,90

1 160 010,95

1 723 656,30

5 408 190,75

252 023,87

20 013 889,41

1 302 967,30

2 783 948,38

9 400 451,41

56 022 530,23

L 205/20

EN

Official Journal of the European Union

9.6.2004

Article 2

Adjustment of the paid‐up capital

national central banks and for the adjustment of the paid‐up
capital (1).

1.
Danmarks Nationalbank, Sveriges Riksbank and the Bank of
England have already paid up 5 % of their share in the ECB’s sub‐
scribed capital as applicable until 30 April 2004 under Decision
ECB/2003/19. In view of this, each of them shall either transfer
an additional amount to the ECB, or receive an amount back from
the ECB, as appropriate, in order to arrive at the amounts shown
in the table in Article 1.

2.
Each of the other non‐participating NCBs shall transfer to
the ECB the amount shown next to its name in the table in
Article 1.

3.
All transfers pursuant to this Article shall be made accord‐
ing to the terms and conditions set out in Decision ECB/2004/7
of 22 April 2004 laying down the terms and conditions for trans‐
fers of the European Central Bank’s capital shares between the

Article 3

Final provisions

1.

This Decision shall enter into force on 23 April 2004.

Decision ECB/2003/19 is hereby repealed with effect

2.
from 1 May 2004.

Done at Frankfurt am Main, 23 April 2004.

The President of the ECB
Jean‐Claude TRICHET

(1) See page 9 of this Official Journal.