2011/22/EU: Decision of the European Central Bank of 13 December 2010 on the paying-up of the European Central Bank’s capital by the non-euro area national central banks (ECB/2010/28)

15.1.2011 EN Official Journal of the European Union L 11/56
DECISION OF THE EUROPEAN CENTRAL BANK
of 13 December 2010
on the paying-up of the European Central Bank’s capital by the non-euro area national central banks
(ECB/2010/28)
(2011/22/EU)
THE GENERAL 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 ‘Statute of the ESCB’), and in particular Article 47 thereof,
Whereas:
(1) Article 47 of the Statute of the ESCB provides that central banks of Member States with a derogation (hereinafter ‘non-euro area NCBs’) do not need to pay up their subscribed capital unless the General Council, acting by a majority representing at least two thirds of the subscribed capital of the European Central Bank (ECB) and at least half of the shareholders, decides that a minimal percentage has to be paid up as a contribution to the ECB’s operational costs.
(2) Article 1 of Decision ECB/2008/28 of 15 December 2008 laying down the measures necessary for the paying-up of the European Central Bank’s capital by the non-participating national central banks (1) provides that non-euro area NCBs must pay up 7 % of their subscription to the ECB’s capital with effect from 1 January 2009.
(3) 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 (2) lays down the key for subscription to the ECB’s capital in accordance with Article 29.3 of the Statute of the ESCB and establishes with effect from 1 January 2009 the weightings assigned to each national central bank in the capital key (hereinafter the ‘capital key weightings’).
(4) Pursuant to Article 1 of Decision ECB/2010/26 of 13 December 2010 on the increase of the European Central Bank’s capital (3) the ECB’s capital has been increased by EUR 5 000 million from EUR 5 760 652 402,58 to EUR 10 760 652 402,58 with effect from 29 December 2010.
(5) The increase of the ECB’s capital would require non-euro area NCBs to pay up 7 % of their respective share in the increased capital although the ECB’s operational costs do not justify a higher contribution in absolute terms. To avoid this increased contribution to the operational costs of the ECB by the non-euro area NCBs, it is necessary to decrease the percentage that non-euro area NCBs have to pay up so that the amounts to be paid up remain on a similar level,