2010/658/EU: Decision of the European Central Bank of 26 October 2010 on transitional provisions for the application of minimum reserves by the European Central Bank following the introduction of the euro in Estonia (ECB/2010/18)

30.10.2010 EN Official Journal of the European Union L 285/37
DECISION OF THE EUROPEAN CENTRAL BANK
of 26 October 2010
on transitional provisions for the application of minimum reserves by the European Central Bank following the introduction of the euro in Estonia
(ECB/2010/18)
(2010/658/EU)
THE EXECUTIVE BOARD OF THE EUROPEAN CENTRAL BANK
,
Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 19.1 and the first indent of Article 46.2 thereof,
Having regard to Council Regulation (EC) No 2531/98 of 23 November 1998 concerning the application of minimum reserves by the European Central Bank (1),
Having regard to Regulation (EC) No 1745/2003 of the European Central Bank of 12 September 2003 on the application of minimum reserves (ECB/2003/9) (2),
Having regard to Council Regulation (EC) No 2532/98 of 23 November 1998 concerning the powers of the European Central Bank to impose sanctions (3),
Having regard to Council Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European Central Bank (4), and in particular Articles 5(1) and 6(4) thereof,
Having regard to Regulation (EC) No 25/2009 of the European Central Bank of 19 December 2008 concerning the balance sheet of the monetary financial institutions sector (recast) (ECB/2008/32) (5),
Whereas:
(1) The adoption of the euro by Estonia on 1 January 2011 means that credit institutions and branches of credit institutions located in Estonia will be subject to reserve requirements from that date.
(2) The integration of these entities into the minimum reserve system of the Eurosystem requires the adoption of transitional provisions in order to ensure smooth integration without creating a disproportionate burden for credit institutions in Member States whose currency is the euro, including Estonia.
(3) Article 5 of the Statute of the European System of Central Banks and of the European Central Bank implies that the ECB, assisted by the national central banks, collects the necessary statistical information from the competent national authorities or directly from economic agents also to ensure timely preparation in the field of statistics in view of the adoption of the euro by a Member State,