2013/360/EU: Decision of the European Central Bank of 21 June 2013 laying down the terms and conditions for transfers of the European Central Bank’s capital shares between the national central banks and for the adjustment of the paid-up capital (ECB/2013/18)

6.7.2013 EN Official Journal of the European Union L 187/17
DECISION OF THE EUROPEAN CENTRAL BANK
of 21 June 2013
laying down the terms and conditions for transfers of the European Central Bank’s capital shares between the national central banks and for the adjustment of the paid-up capital
(ECB/2013/18)
(2013/360/EU)
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 ‘Statute of the ESCB’), and in particular Article 28.5 thereof,
Whereas:
(1) Decision ECB/2013/17 of 21 June 2013 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 weightings assigned to the national central banks (NCBs) in the key for subscription to the European Central Bank’s (ECB’s) capital (hereinafter the ‘capital key weightings’ and the ‘capital key’ respectively) in view of the accession of Croatia to the European Union and its NCB, Hrvatska narodna banka, joining the European System of Central Banks (ESCB) on 1 July 2013. This adjustment requires the Governing Council to determine the terms and conditions for transfers of capital shares between the NCBs that are members of the ESCB on 30 June 2013 in order to ensure that the distribution of these shares corresponds to the adjustments made. Accordingly, the adoption of a new decision is required that repeals Decision ECB/2008/25 of 12 December 2008 laying down the terms and conditions for transfers of the European Central Bank’s capital shares between the national central banks and for the adjustment of the paid-up capital (2) with effect from 1 July 2013.
(2) Hrvatska narodna banka will not join the ESCB until 1 July 2013, which means that the transfer of capital pursuant to Article 28.5 of the Statute of the ESCB does not apply to it on this occasion.
(3) Decision ECB/2013/19 of 21 June 2013 on the paying-up of the European Central Bank’s capital by the national central banks of Member States whose currency is the euro (3) determines how and to what extent the national central banks of the Member States whose currency is the euro (hereinafter ‘euro area NCBs’) are under an obligation to pay up the ECB’s capital in view of the expanded capital key. Decision ECB/2013/20 of 21 June 2013 on the paying-up of the European Central Bank’s capital by the non-euro area national central banks (4) determines the percentage that the national central banks of the Member States whose currency is not the euro (hereinafter ‘non-euro area NCBs’) are under an obligation to pay up with effect from 1 July 2013 in view of the expanded capital key.
(4) The euro area NCBs have already paid up their shares in the ECB’s subscribed capital as required under Decision ECB/2010/27 of 13 December 2010 on the paying-up of the increase of the European Central Bank’s capital by the national central banks of Member States whose currency is the euro (5). In view of this, Article 2(1) of Decision ECB/2013/19 states that euro area NCBs should either transfer an additional amount to the ECB, or receive an amount back from the ECB, as appropriate, in order to arrive at the amounts shown in the table in Article 1 of Decision ECB/2013/19. Decision ECB/2010/27 supplements Decision ECB/2008/24 of 12 December 2008 laying down the measures necessary for the paying-up of the European Central bank’s capital by the participating national central banks (6).
(5) Likewise, the non-euro area NCBs, with the exception of Hrvatska narodna banka, have already paid up a percentage of their shares in the ECB’s subscribed capital as required under Decision ECB/2010/28 of 13 December 2010 on the paying-up of the European Central Bank’s capital by the non-euro area national central banks (7). In view of this, Article 2(1) of Decision ECB/2013/20 states that each of them should either transfer an additional amount to the ECB, or receive an amount back from the ECB, as appropriate, in order to arrive at the amounts shown in the third column of the table in Article 1 of Decision ECB/2013/20. Article 2(2) of Decision ECB/2013/20 states that Hrvatska narodna banka should transfer to the ECB the amount shown next to its name in the third column of the table in Article 1 of the same Decision,