Opinion of the European Central Bank of 6 April 2011 on the financing of a central register of bank account numbers (CON/2011/30)
Date: 2011-04-06
Institutions: European Central Bank
Subjects: Belgium, credit institution, disclosure of information, fight against crime, national law, tax offence

EN 

OPINION OF THE EUROPEAN CENTRAL BANK 

of 6 April 2011 

on the financing of a central register of bank account numbers 

(CON/2011/30) 

Introduction and legal basis 

On  1  April  2011,  the  European  Central  Bank  (ECB)  received  a  request  from  the  Belgian  Ministry  of 
Finance,  for  an  opinion  on  three  Parliamentary  amendments1  to  a  draft  law  on  various  provisions 

(hereinafter respectively the ‘amendments’ and the ‘draft law’).  

The ECB’s competence to deliver an opinion is based on Articles 127(4) and 282(5) of the Treaty on the 

Functioning of the European Union, and the third indent of Article 2(1) of Council Decision 98/415/EC 

of 29 June 1998 on the consultation of the European Central Bank by national authorities regarding draft 
legislative provisions2, as the amendments relate to the Nationale Bank van België/Banque Nationale de 

Belgique  (NBB).  In  accordance  with  the  first  sentence  of  Article 17.5  of  the  Rules  of  Procedure  of  the 

European Central Bank, the Governing Council has adopted this opinion. 

1.  

Purpose of the amendments 

1.1  The ECB understands that the amendments relate to broader changes that will be introduced by the 

draft  law  to  reinforce  the  fight  against  tax  fraud  in  Belgium.  Under  the  draft  law,  Belgian  credit 

institutions  will  be  required  to  communicate  certain  data  to  a  central  register  of  bank  account 
numbers3. In the event of indications of tax fraud by a tax payer, certain specifically appointed high 
ranking  civil servants  in  the  tax  authorities  will  have  access  to  this  central  register4.  The  register 
will also be accessible to foreign tax authorities under certain conditions5.  

1  

2  
3  

4  

5  

Amendments  Nos  15  to  17  to  the  draft  law  on  various  provisions,  Doc.  House  of  Representatives,  o.s.  53  2010-2011, 
1208/007, p.  8. 
OJ L 189, 3.7.1998, p. 42.  
See also amendment No 15, introducing a new Article 322 § 3, first subparagraph, in the Income Tax Code. The central 
register is referred to as the central contact point in the amendments. The following data needs to be communicated to 
the  central  register  by  credit  institutions:  (a)  customer  names  and  bank  account  numbers,  and  (b)  the  agreements 
concluded with such customers.  
Amendment No 15, introducing a new Article 322 § 3, second subparagraph, in the Income Tax Code. The tax authorities 
are  responsible  for  assessing  whether  these  conditions  are  met,  not  the  central  register  (Justification  under  the 
amendments, p. 17). The establishment of a centralised register is considered more efficient, and respectful of the privacy 
of  tax  payers,  than  a  consultation  of  all  Belgian  credit  institutions  by  the  tax  authorities  (Justification  under  the 
amendments, p. 17).  
Amendment No 15, introducing a new Article 322 § 4 in the Income Tax Code. 

 
 
 
 
 
 
                                                 
1.2  The  amendments  will  entrust  the  NBB  with  managing  this  central  register  of  bank  account 
numbers6. The financing of the new task is not defined in the draft law or in the amendments. The 
way in which the central register works will be defined in a Royal decree7. 

2.   Central bank independence and the monetary financing prohibition  

2.1 

In the absence of any provision on the financing of the new task entrusted to the NBB under the 

amendment, the ECB underlines the importance of safeguarding compliance with the prohibition of 

monetary  financing  laid  down  in  Article  123(1)  of  the  Treaty.  The  prohibition  is  designed  to 

prevent central banks from providing overdraft facilities or any other type of credit facility to the 

public sector. The ECB notes that the new task entrusted to the NBB under the amendment is not a 

central  banking  task,  nor  does  it  facilitate  the  performance  of  such  a  task.  Rather,  the  ECB 

understands that the new task entrusted to the NBB is linked to a State task, i.e. the collection of 

taxes  by  the  State  and  the  reinforcement  of  the  fight  against  tax  fraud,  and  is  performed  in  the 

interest  of  the  State.  Therefore,  if  the  NBB  is  to  be  entrusted  with  such  a  task,  it  needs  to  be 

adequately remunerated in advance, to ensure compliance with the monetary financing prohibition. 

2.2 

In addition, the financing of this new task entrusted to the NBB must comply with the principle of 

financial independence, under which a national central bank must have sufficient means not only to 

perform its ESCB-related tasks, but also its national tasks, e.g. financing its administration and own 
operations8. 

This opinion will be published on the ECB’s website. 

Done at Frankfurt am Main, 6 April 2011. 

[signed] 

The President of the ECB 

Jean-Claude TRICHET 

6 
7  
8  

Amendment No 15, introducing a new Article 322 § 3, first subparagraph, in the Income Tax Code.  
Amendment No 15, introducing a new Article 322 § 3, third subparagraph, in the Income Tax Code. 
See  the  ECB’s  Convergence  Report,  May  2010,  p.  21,  and  in  particular  Opinion  CON/2011/5,  paragraph  3.1  and 
CON/2011/20, paragraph 3.1. 

2