2008/121/EC: Decision of the European Central Bank of 17 December 2007 amending Decision ECB/2006/17 on the annual accounts of the European Central Bank (ECB/2007/21)
Date: 2007-12-17
Institutions: European Central Bank
Subjects: European Central Bank, account, balance sheet, financial regulation, standardised accounting system

16.2.2008

EN

Official Journal of the European Union

L 42/83

EUROPEAN CENTRAL BANK

DECISION OF THE EUROPEAN CENTRAL BANK

of 17 December 2007

amending Decision ECB/2006/17 on the annual accounts of the European Central Bank

(ECB/2007/21)

(2008/121/EC)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

HAS DECIDED AS FOLLOWS:

Having regard to the Statute of the European System of Central
Banks and of the European Central Bank, and in particular
Article 26.2 thereof,

Whereas:

(1)

(2)

Decision ECB/2006/17 of 10 November 2006 on the
annual accounts of the European Central Bank (1) (ECB)
does not contain specific rules on the capitalisation of
costs related to the acquisition of intangible assets. It is
desirable for reasons of clarity to insert a rule specifying
the current practice.

Express

Transfer

Article 14(2) of Guideline ECB/2007/2 of 26 April 2007
on a Trans-European Automated Real-time Gross
system (TARGET2) (2)
settlement
provides that
replace the
the TARGET2 system will
current TARGET system. The national central banks
(NCBs) of Member States that have adopted the euro
(hereinafter
States) will
the participating Member
migrate to TARGET2 in accordance with the schedule
specified in Article 13 of Guideline ECB/2007/2.
Furthermore, certain NCBs of Member States that have
not adopted the euro will connect to TARGET2 on the
basis of a separate agreement with the ECB and the NCBs
of participating Member States. It is therefore necessary
to
in Decision
to
amend
ECB/2006/17,

‘TARGET’

references

Article 1

Amendments

Decision ECB/2006/17 is amended as follows:

1. the following Article 10a is inserted:

‘Article 10a

Synthetic instruments

The accounting treatment of synthetic instruments shall be
in accordance with Article 9a of Guideline ECB/2006/16.’;

2. Annex I to Decision ECB/2006/17 is amended in accordance

with the Annex to this Decision.

Article 2

Final provision

This Decision shall enter into force on 1 January 2008.

Done at Frankfurt am Main, 17 December 2007.

The President of the ECB

Jean-Claude TRICHET

(1) OJ L 348, 11.12.2006, p. 38.
(2) OJ L 237, 8.9.2007, p. 1.

L 42/84

EN

Official Journal of the European Union

16.2.2008

Annex I to Decision ECB/2006/17 is amended as follows:

ANNEX

1.

in the table headed ‘Assets’, in relation to balance sheet item 11.2 (Tangible and intangible fixed assets), the following
sentence is added at the end of the column headed ‘Valuation principle’:

‘The cost of intangible assets includes the price for the acquisition of the intangible asset. Other direct or indirect costs
are to be expensed.’;

2. the word ‘TARGET’ is replaced by the words ‘TARGET/TARGET2’ in the following provisions:

(a)

in the table headed ‘Assets’, in relation to balance sheet item 9.3; and

(b) in the table headed ‘Liabilities’, in relation to balance sheet items 6 and 10.2.