Decision of the European Central Bank of 22 April 2004 on the national central banks’ percentage shares in the key for subscription to the European Central Bank’s capital (ECB/2004/5)

9.6.2004 EN Official Journal of the European Union L 205/5
DECISION OF THE EUROPEAN CENTRAL BANK
of 22 April 2004
on the national central banks’ percentage shares in the key for subscription to the European Central Bank’s capital
(ECB/2004/5)
(2004/502/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 and in particular Article 29.4 and Article 49.3 thereof,
Having regard to the contribution of the General Council of the European Central Bank (ECB) in accordance with the fourth indent of Article 47.2 of the Statute,
Whereas:
(1) Decision ECB/2003/17 of 18 December 2003 on the national central banks percentage shares in the key for subscription to the European Central Bank’s capital (1) laid down with effect from 1 January 2004 the weightings assigned to those national central banks (NCBs) that were part of the European System of Central Banks (ESCB) on 1 January 2004 in the key for subscription to the ECB’s capital (hereinafter the ‘capital key weightings’ and the ‘capital key’ respectively).
(2) In view of the accession of the Czech Republic, the Republic of Estonia, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Republic of Hungary, the Republic of Malta, the Republic of Poland, the Republic of Slovenia and the Slovak Republic to the European Union and their respective NCBs becoming part of the ESCB on 1 May 2004, the ECB’s subscribed capital should automatically be increased pursuant to Article 49.3 of the Statute. This increase requires the calculation of the capital key weighting of each NCB that is part of the ESCB on 1 May 2004 by analogy with Article 29.1 and in compliance with Article 29.2 of the Statute. The ECB’s expanded capital key and each NCB’s capital key weighting applies with effect from 1 May 2004.
(3) In accordance with Council Decision 2003/517/EC of 15 July 2003 on the statistical data to be used for the adjustment of the key for subscription to the capital of the European Central Bank (2), the European Commission provided the ECB with the statistical data to be used in determining the expanded capital key.
(4) In view of Article 3.3 of the Rules of Procedure of the General Council of the European Central Bank and in view of the General Council’s contribution to this Decision, the Governors of Česká národní banka, Eesti Pank, the Central Bank of Cyprus, Latvijas Banka, Lietuvos bankas, Magyar Nemzeti Bank, the Central Bank of Malta, Narodowy Bank Polski, Banka Slovenije and Národná banka Slovenska had the opportunity to submit observations regarding this Decision prior to its adoption,