2011/21/EU: Decision of the European Central Bank 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 (ECB/2010/27)

• Published date: 15 January 2011
• Subject Matter: Financial provisions
• Official Gazette Publication: Official Journal of the European Union, L 11, 15 January 2011

15.1.2011 EN Official Journal of the European Union L 11/54

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DECISION OF THE EUROPEAN CENTRAL BANK

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

(ECB/2010/27)

(2011/21/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 28.3 thereof,

Whereas:

(1) 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 (1) determined how and to what extent the national central banks (NCBs) of the Member States whose currency is the euro were under an obligation to pay up the capital of the European Central Bank (ECB) on 1 January 2009.

(2) Pursuant to Article 1 of Decision ECB/2010/26 of 13 December 2010 on the increase of the European Central Bank’s capital (2) the ECB’s capital has been increased by EUR 5 000 million from EUR 5 760 652 402,58 to EUR 10 760 652 402,58 with effect from 29 December 2010.

(3) Decision ECB/2008/23 of 12 December 2008 on the national central banks’ percentage shares in the key for subscription to the European Central Bank’s capital (3) lays down the key for subscription to the ECB’s capital in accordance with Article 29.3 of the Statute of the ESCB and establishes with effect from 1 January 2009 the weightings assigned to each NCB in the capital key (hereinafter the ‘capital key weightings’).

(4) Pursuant to Article 28.3 of the Statute of the ESCB the Governing Council, acting by the qualified majority provided for in Article 10.3 of the Statute of the ESCB, has the competence to determine the extent to which and the form in which the capital is to be paid up.

(5) Pursuant to Article 1 of Council Decision 2010/416/EU of 13 July 2010 in accordance with Article 140(2) of the Treaty on the adoption by Estonia of the euro on 1 January 2011 (4), Estonia fulfils the necessary conditions for adoption of the euro and the derogation granted to it pursuant to Article 4 of the 2003 Act of Accession (5) will be abrogated with effect from 1 January 2011.

(6) In accordance with Decision ECB/2010/34 of 31 December 2010 on the paying-up of capital, transfer of foreign reserve assets and contributions by Eesti Pank to the European Central Bank’s reserves and provisions (6) Eesti Pank is under an obligation to pay up the remaining share of its subscription to the ECB’s capital with effect

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