2009/328/EC: Decision of the European Central Bank of 19 March 2009 amending Decision ECB/2004/2 of 19 February 2004 adopting the Rules of Procedure of the European Central Bank (ECB/2009/5)

• Published date: 18 April 2009
• Date of Signature: 05 February 2009
• Subject Matter: Provisions governing the Institutions,European Central Bank (ECB)
• Official Gazette Publication: Official Journal of the European Union, L 100, 18 April 2009

18.4.2009 EN Official Journal of the European Union L 100/10

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DECISION OF THE EUROPEAN CENTRAL BANK

of 19 March 2009

amending Decision ECB/2004/2 of 19 February 2004 adopting the Rules of Procedure of the European Central Bank

(ECB/2009/5)

(2009/328/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 (hereinafter the Statute of the ESCB), and in particular Article 10.2 and Article 12.3 thereof,

Whereas:

(1) Upon adoption of the euro by Slovakia the number of members of the Governing Council of the European Central Bank (ECB) exceeds 21. Article 10.2 of the Statute of the ESCB provides that as from the date on which the number of members of the Governing Council exceeds 21, each member of the Executive Board will have one vote and the number of governors with a voting right will be 15. It also specifies the rules on the rotation of the voting rights. Under the sixth indent of Article 10.2, the Governing Council, acting by a two-thirds majority of all its members, may decide to postpone the start of the rotation system until the date on which the number of governors exceeds 18. In December 2008 the Governing Council decided to postpone the start of the rotation system until such a date (1).

(2) Under the sixth indent of Article 10.2 of the Statute of the ESCB, the Governing Council, acting by a two-thirds majority of all its members, has to take all measures necessary for the implementation of the rotation system. These measures cover: (i) the rotation rate: the number of governors losing or gaining voting rights at the same time; (ii) the rotation period: the length of the period during which the composition of voting governors does not change; (iii) how governors will be ordered within their groups; and (iv) the transition from a two to a three-group system. The Governing Council has decided to take such measures, which require amendment of Decision ECB/2004/2 of 19 February 2004 adopting the Rules of Procedure of the European Central Bank (2), to be applied as from the date on which the number of governors exceeds 18.

(3) The implementation of the rotation system respects the principles of equal treatment of governors, transparency and simplicity,

HAS DECIDED AS FOLLOWS:

Article 1

Amendments to the Rules of Procedure of the European Central...