CELEX: 11992M/PRO/SEBC/30
Language: en
Date: 1992-02-07 00:00:00
Title: Treaty on European Union - Protocol on the statute of the european system of central banks and of the European Central Bank - Chapter VI: Financial provisions of the ESCB - Article 30: Transfer of foreign reserve assets to the ESB

Avis juridique important

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11992M/PRO/SEBC/30

Treaty on European Union - Protocol on the statute of the european system of central banks and of the European Central Bank - Chapter VI: Financial provisions of the ESCB - Article 30: Transfer of foreign reserve assets to the ESB  

Official Journal C 191 , 29/07/1992 P. 0074

 Article 30  Transfer of foreign reserve assets to the ECB 30.1. Without prejudice to Article 28, the ECB shall be provided by the national central banks with foreign reserve assets, other than Member States' currencies, ECUs, IMF reserve positions and SDRs, up to an amount equivalent to ECU 50 000 million. The Governing Council shall decide upon the proportion to be called up by the ECB following its establishment and the amounts called up at later dates. The ECB shall have the full right to hold and manage the foreign reserves that are transferred to it and to use them for the purposes set out in this Statute.  30.2. The contributions of each national central bank shall be fixed in proportion to its share in the subscribed capital of the ECB.  30.3. Each national central bank shall be credited by the ECB with a claim equivalent to its contribution. The Governing Council shall determine the denomination and remuneration of such claims.  30.4. Further calls of foreign reserve assets beyond the limit set in Article 30.1 may be effected by the ECB, in accordance with Article 30.2, within the limits and under the conditions set by the Council in accordance with the procedure laid down in Article 42.  30.5. The ECB may hold and manage IMF reserve positions and SDRs and provide for the pooling of such assets.  30.6. The Governing Council shall take all other measures necessary for the application of this Article.