CELEX: 11992M/PRO/SEBC/21
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 21: Operations with public entities

Avis juridique important

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11992M/PRO/SEBC/21

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 21: Operations with public entities  

Official Journal C 191 , 29/07/1992 P. 0073

 Article 21  Operations with public entities 21.1. In accordance with Article 104 of this Treaty, overdrafts or any other type of credit facility with the ECB or with the national central banks in favour of Community institutions or bodies, central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of Member States shall be prohibited, as shall the purchase directly from them by the ECB or national central banks of debt instruments.  21.2. The ECB and national central banks may act as fiscal agents for the entities referred to in Article 21.1.  21.3. The provisions of this Article shall not apply to publicly-owned credit institutions which, in the context of the supply of reserves by central banks, shall be given the same treatment by national central banks and the ECB as private credit institutions.