CELEX: 11992M/PRO/SEBC/33
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 33: Allocation of net profits and losses of the ECB

Avis juridique important

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11992M/PRO/SEBC/33

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 33: Allocation of net profits and losses of the ECB  

Official Journal C 191 , 29/07/1992 P. 0075

 Article 33  Allocation of net profits and losses of the ECB 33.1. The net profit of the ECB shall be transferred in the following order:  (a)  an amount to be determined by the Governing Council, which may not exceed 20% of the net profit, shall be transferred to the general reserve fund subject to a limit equal to 100% of the capital;  (b) the remaining net profit shall be distributed to the shareholders of the ECB in proportion to their paid-up shares.  33.2. In the event of a loss incurred by the ECB, the shortfall may be offset against the general reserve fund of the ECB and, if necessary, following a decision by the Governing Council, against the monetary income of the relevant financial year in proportion and up to the amounts allocated to the national central banks in accordance with Article 32.5.   CHAPTER VII GENERAL PROVISIONS