2001/667/EC: Decision of the European Central Bank of 30 August 2001 on the denominations, specifications, reproduction, exchange and withdrawal of euro banknotes (ECB/2001/7)

Decision of the European Central Bank
of 30 August 2001
on the denominations, specifications, reproduction, exchange and withdrawal of euro banknotes
(ECB/2001/7)
(2001/667/EC)
THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK
,
Having regard to the Treaty establishing the European Community (hereinafter referred to as the "Treaty") and in particular to Article 106(1) thereof and to Article 16 of the Statute of the European System of Central Banks and of the European Central Bank (hereinafter referred to as the "Statute").
Having regard to Council Regulation (EC) No 974/98 of 3 May 1998 on the introduction of the euro(1) and in particular to Articles 10 and 16 thereof,
Whereas:
(1) The provisions of Article 106(1) of the Treaty, Article 16 of the Statute and Article 10 of Regulation (EC) No 974/98 require more precise details on the denominations and specifications of the euro banknotes.
(2) Such details may be provided by means of a decision of the European Central Bank, published for general information in the Official Journal of the European Communities.
(3) Council Regulation (EC) No 975/98 of 3 May 1998 on denominations and technical specifications of euro coins intended for circulation(2) stipulates that the denominations of the euro coins will range from 1 cent to EUR 2.
(4) The denominations of the euro banknotes should take into account the denominations of the euro coins.
(5) The present Decision takes into account the preparatory work carried out by the European Monetary Institute (EMI) and, in particular with regard to the banknote designs, the results of a Europe-wide competition between banknote designers.
(6) Such preparatory work included consultations with European associations of several categories of banknote users in order to take into account their specific visual and technical requirements and to facilitate the recognition and acceptance of the new banknote denominations and specifications by users.
(7) The European Central Bank (ECB) is the recipient of the copyright on the designs of the euro banknotes, originally held by the EMI.
(8) It is necessary to establish some common guiding principles according to which the reproduction of the designs of banknotes will be permitted.
(9) A general authorisation should be given by virtue of the present Decision to all reproductions falling within certain criteria.
(10) It is appropriate that the reproduction rules allow reproductions only if they are one-sided, in order to reduce the risk of the general public confusing reproductions of euro banknotes with genuine banknotes.
(11) A common regime under which the NCBs of participating Member States are prepared to exchange mutilated or damaged euro banknotes needs to be established.
(12) The need to establish a common regime also applies to the final withdrawal of banknotes when these are to be replaced by new banknotes.
(13) The publication of announcements in the Official Journal of the European Communities may be accompanied by other means of publication that may facilitate due acknowledgement by the general public.
(14) It is appropriate, for reasons of clarity and rationality, to consolidate Decision ECB/1998/6 of 7 July 1998 on the denominations, specifications, reproduction, exchange and withdrawal of euro banknotes(3), as amended by Decision ECB/1999/2(4),