2009/57/EC: Decision of the European Central Bank of 12 December 2008 laying down the measures necessary for the contribution to the European Central Bank’s accumulated equity value and for adjusting the national central banks’ claims equivalent to the transferred foreign reserve assets (ECB/2008/27)

24.1.2009 EN Official Journal of the European Union L 21/77
DECISION OF THE EUROPEAN CENTRAL BANK
of 12 December 2008
laying down the measures necessary for the contribution to the European Central Bank’s accumulated equity value and for adjusting the national central banks’ claims equivalent to the transferred foreign reserve assets
(ECB/2008/27)
(2009/57/EC)
THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK
,
Having regard to the Statute of the European System of Central Banks and of the European Central Bank (hereinafter the ESCB Statute) and in particular Article 30 thereof,
Whereas:
(1) Decision ECB/2008/23 of 12 December 2008 on the national central banks’ percentage shares in the key for subscription to the European Central Bank’s capital (1) provides for the adjustment of the key for subscription to the capital of the European Central Bank (ECB) (hereinafter capital key) in accordance with Article 29.3 of the ESCB Statute and establishes, with effect from 1 January 2009, the new weightings assigned to each national central bank (NCB) in the adjusted capital key (hereinafter the capital key weightings).
(2) The adjustments to the capital key weightings and the resulting changes in the NCBs’ shares in the ECB’s subscribed capital make it necessary to adjust the claims which the ECB has credited under Article 30.3 of the ESCB Statute to the NCBs of the Member States that have adopted the euro (hereinafter the participating NCBs) and which are equivalent to the participating NCBs’ contributions of foreign reserve assets to the ECB (hereinafter the claims).
(3) Those participating NCBs whose percentage shares in the adjusted capital key increase due to the adjustment should therefore effect a compensatory transfer to the ECB, while the ECB should effect a compensatory transfer to those participating NCBs whose percentage shares in the adjusted capital key decrease.
(4) In accordance with the general principles of fairness, equal treatment and the protection of legitimate expectations underlying the ESCB Statute, those participating NCBs whose relative share in the ECB’s accumulated equity value increases due to the abovementioned adjustments should also effect a compensatory transfer to those participating NCBs whose relative shares decrease.
(5) The respective capital key weightings of each participating NCB until 31 December 2008 and with effect from 1 January 2009 should be expressed as a percentage of the ECB’s total capital as subscribed to by all participating NCBs for the purpose of calculating the adjustment of the value of each participating NCB’s share in the ECB’s accumulated equity value.
(6) Accordingly, the adoption of a new ECB decision is required that repeals Decision ECB/2006/24 of 15 December 2006 laying down the measures necessary for the contribution to the European Central Bank’s accumulated equity value and for adjusting the national central banks’ claims equivalent to the transferred foreign reserve assets (2).
(7) Pursuant to Article 1 of Council Decision 2008/608/EC of 8 July 2008 in accordance with Article 122(2) of the Treaty on the adoption by Slovakia of the single currency on 1 January 2009 (3), the derogation in favour of Slovakia referred to in Article 4 of the 2003 Act of Accession (4) is abrogated with effect from 1 January 2009,