CELEX: 11992M/PRO/SEBC/18
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 IV: Monetary functions and operations of the ESCB - Article 18: Open market and credit operations

Avis juridique important

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11992M/PRO/SEBC/18

Treaty on European Union - Protocol on the statute of the european system of central banks and of the European Central Bank - Chapter IV: Monetary functions and operations of the ESCB - Article 18: Open market and credit operations  

Official Journal C 191 , 29/07/1992 P. 0072

 Article 18  Open market and credit operations 18.1. In order to achieve the objectives of the ESCB and to carry out its tasks, the ECB and the national central banks may:  -  operate in the financial markets by buying and selling outright (spot and forward) or under repurchase agreement and by lending or borrowing claims and marketable instruments, whether in Community or in non-Community currencies, as well as precious metals;  -  conduct credit operations with credit institutions and other market participants, with lending being based on adequate collateral.  18.2. The ECB shall establish general principles for open market and credit operations carried out by itself or the national central banks, including for the announcement of conditions under which they stand ready to enter into such transactions.