Decision (EU) 2024/2546 of the European Central Bank of 19 September 2024 amending Decision (EU) 2023/2684 on the approval of the volume of coin issuance in 2024 (ECB/2023/28) (ECB/2024/25)
Date: 2024-09-19
Institutions: European Central Bank
Subjects: Malta, euro, issuing of currency, money, participating country (euro area)








L_202402546EN.000101.fmx.xml












Official Journal of the European Union


EN
L series













2024/2546


27.9.2024







            DECISION (EU) 2024/2546 OF THE EUROPEAN CENTRAL BANK
         
of 19 September 2024
         
amending Decision (EU) 2023/2684 on the approval of the volume of coin issuance in 2024 (ECB/2023/28) (ECB/2024/25)



THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 128(2) thereof,


Having regard to Decision (EU) 2015/2332 of the European Central Bank of 4 December 2015 on the procedural framework for the approval of the volume of euro coin issuance (ECB/2015/43) (1), and in particular Article 3(8) thereof,

Whereas:







(1)


The European Central Bank (ECB) has the exclusive right since 1 January 1999 to approve the volume of coins issued by the Member States whose currency is the euro.












(2)


Based on the estimates of demand for euro coins in 2024 that the Member States whose currency is the euro submitted to the ECB, the ECB approved the total volume of euro coins intended for circulation and euro collector coins not intended for circulation in 2024 in Decision (EU) 2023/2684 of the European Central Bank (ECB/2023/28) (2).












(3)


Pursuant to Article 3 of Decision (EU) 2015/2332 (ECB/2015/43), Member States whose currency is the euro must notify the ECB if the actual demand for euro coins is likely to exceed the approved volume of coin issuance in a calendar year and, where the increased coin demand continues, must request ad hoc approval for an additional volume of coin issuance in that calendar year.












(4)


On 12 July 2024, the ECB received a request from the Central Bank of Malta on behalf of Malta to increase the volume of euro collector coins that Malta may issue in 2024 by an additional volume of EUR 9,0 million, from EUR 0,5 million to EUR 9,5 million. The reason for this request is that the volume of euro collector coins, both minted and sold via collaboration agreements, that Malta has issued in 2024 exceeds the volume of euro collector coin issuance approved by the ECB for Malta in 2024. As the approval of an additional volume of issuance of euro coins by the ECB is only foreseen prior to that additional volume of euro coins being issued, the Executive Board has determined that the additional volume of issuance of euro collector coins to be approved by the ECB should be calculated from the moment of receipt of the ad hoc approval request.












(5)


Pursuant to Article 3(8) of Decision (EU) 2015/2332 (ECB/2015/43), where the Executive Board determines that the additional volume of coin issuance requested by a euro area Member State requires modification, it is to submit a reasoned proposal explaining the required modifications to the Governing Council, which is to adopt an individual decision on the ad hoc approval request.












(6)


The Executive Board proposes that the volume of euro collector coins that Malta may issue in the period from August to December 2024 should be increased by an additional volume of EUR 3,75 million. As a volume of EUR 0,5 million has already been issued, the total volume of euro collector coin issuance for Malta in 2024 would rise to EUR 4,25 million.












(7)


Therefore, Decision (EU) 2023/2684 (ECB/2023/28) should be amended accordingly,





HAS ADOPTED THIS DECISION:



Article 1

Amendment

The table in Article 2 of Decision (EU) 2023/2684 (ECB/2023/28) is amended as follows:






(1)


the row regarding Malta is replaced by the following:








‘Malta


6,70 


4,25 


10,95 ’;














(2)


the row entitled ‘Total’ is replaced by the following:








‘Total


1 876,02 


472,35 


2 348,37 ’.










Article 2

Taking effect

This Decision shall take effect on the day of its notification to the addressees.


Article 3

Addressees

This Decision is addressed to the Member States whose currency is the euro.




Done at Frankfurt am Main, 19 September 2024.


The President of the ECB

Christine LAGARDE
            





(1)  
            OJ L 328, 12.12.2015, p. 123.

(2)  Decision (EU) 2023/2684 of the European Central Bank of 21 November 2023 on the approval of the volume of coin issuance in 2024 (ECB/2023/28) (OJ L, 2023/2684, 28.11.2023, ELI: http://data.europa.eu/eli/dec/2023/2684/oj).


ELI: http://data.europa.eu/eli/dec/2024/2546/oj
ISSN 1977-0677 (electronic edition)