CELEX: 11992M/PRO/SEBC/28
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 28: Capital of the ECB

Avis juridique important

|

11992M/PRO/SEBC/28

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 28: Capital of the ECB  

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

 Article 28  Capital of the ECB 28.1. The capital of the ECB, which shall become operational upon its establishment, shall be ECU 5 000 million. The capital may be increased by such amounts as may be decided by the Governing Council acting by the qualified majority provided for in Article 10.3, within the limits and under the conditions set by the Council under the procedure laid down in Article 42.  28.2. The national central banks shall be the sole subscribers to and holders of the capital of the ECB. The subscription of capital shall be according to the key established in accordance with Article 29.  28.3. The Governing Council, acting by the qualified majority provided for in Article 10.3, shall determine the extent to which and the form in which the capital shall be paid up.  28.4. Subject to Article 28.5, the shares of the national central banks in the subscribed capital of the ECB may not be transferred, pledged or attached.  28.5. If the key referred to in Article 29 is adjusted, the national central banks shall transfer among themselves capital shares to the extent necessary to ensure that the distribution of capital shares corresponds to the adjusted key. The Governing Council shall determine the terms and conditions of such transfers.