Date: 2020-01-24Category: Not ApplicableState: Union GovernmentCountry: Europe
Commission Decision (EU) 2020/109 of 23 January 2020 amending the Annex to the Monetary Agreement between the European Union and the Vatican City State
Issued by European Commission
· Directorate-General for Economic and Financial Affairs
Executive Summary:
This Commission Decision EU 2020/109 amends the Annex to the Monetary Agreement between the European Union and the Vatican City State. The amendment updates the list of Union legal acts and rules that the Vatican City State must implement, including those related to money laundering prevention, fraud, counterfeiting, and statistical reporting. The decision entered into force on February 13, 2020.
Key Points / Main Content:
Amendment of Annex:
The Annex to the Monetary Agreement between the European Union and the Vatican City State is replaced with the new text as outlined in the Annex to this decision.
Legal Provisions to be Implemented:
The legal provisions to be implemented are divided into the following categories:
Prevention of Money Laundering:
Includes Council Framework Decision 2001/500/JHA and several Directives and Regulations with implementing deadlines ranging from December 31, 2017, to December 31, 2021.
Prevention of Fraud and Counterfeiting:
Includes Council Regulations and Directives with implementing deadlines ranging from December 31, 2010, to December 31, 2021.
Rules on Euro Banknotes and Coins:
Includes Council Conclusions, ECB Guidelines and Decisions, and EU Regulations with implementing deadlines ranging from December 31, 2010, to December 31, 2020.
Section of the Annex to the Monetary Agreement in Accordance with the Ad Hoc Arrangement of the Joint Committee on a Request From the Holy See and Vatican City State on the Inclusion of Relevant Rules Applicable to Entities Carrying Out Financial Activities on a Professional Basis:
Includes Council Directive 86/635/EEC, Directives 2001/65/EC, 2003/51/EC, 2006/46/EC and 2014/57/EU, Regulations 575/2013, 596/2014 with implementing deadlines ranging from September 30, 2018, to December 31, 2020.
Legislation on Collection of Statistical Information:
Includes ECB Guidelines and EU Regulations with implementing deadlines ranging from November 1, 2017, to October 1, 2019.
Impact Analysis:
Vatican City State:
Impact: Required to implement the updated list of Union legal acts and rules as specified in the amended Annex.
Action Required: Incorporate the new legal acts and rules into its national legislation and practices by the deadlines specified for each provision.
European Union:
Impact: Ensures consistent application of relevant Union laws and regulations within the Vatican City State, particularly in areas concerning financial activities, fraud prevention, and monetary policy.
Action Required: Monitor the implementation of the amended Annex by the Vatican City State and provide support as needed.
Financial Institutions operating within the Vatican City State:
Impact: Need to comply with the updated regulations related to anti-money laundering, fraud prevention, and other financial activities.
Action Required: Update their internal policies and procedures to align with the new legal requirements and ensure ongoing compliance.
Key Entities Referenced
European Union: A political and economic union of member states located primarily in Europe.
Vatican City State: An independent city-state enclaved within Rome, Italy.
European Commission: An executive branch of the European Union responsible for proposing legislation, implementing decisions, upholding the EU treaties and managing the day-to-day business of the EU.
Treaty on the Functioning of the European Union: One of the primary treaties of the European Union, outlining the scope of EU law and the powers of its institutions.
Monetary Agreement between the European Union and the Vatican City State: A bilateral agreement governing the use of the euro by the Vatican City State.
Ursula VON DER LEYEN: The President of the European Commission.
European Central Bank: The central bank of the Eurozone, responsible for the monetary policy of the euro area.
Ethiopia: A country in East Africa identified as a high-risk third country with strategic deficiencies in anti-money laundering efforts.
L 19/36 E N O f f i c i a l J o u r n a l o f t h e E u r o p e a n Union 24.1.2020
COMMISSION DECISION (EU) 2020/109
of 23 January 2020
amending the Annex to the Monetary Agreement between the European Union and the Vatican City
State
THE EUROPEAN COMMISSION,
Having regard to the Treaty on the Functioning of the European Union,
Having regard to the Monetary Agreement of 17 December 2009 between the European Union and the Vatican City
State(1), and in particular Article 8(3) thereof,
Whereas:
(1) Article 8(1) of the Monetary Agreement between the European Union and the Vatican City State (‘the Monetary
Agreement’) requires the Vatican City State to implement Union legal acts and rules on euro banknotes and coins,
prevention of money laundering, of fraud and counterfeiting of cash and non-cash means of payment; medals and
tokens and statistical reporting requirements. Those acts and rules are listed in the Annex to the Monetary
Agreement.
(2) The Annex to the Monetary Agreement needs to be amended by the Commission every year to take into account the
new relevant Union legal acts and rules and the amendments to the existing ones.
(3) Some legal acts and rules of the Union are not relevant anymore and should therefore be deleted from the Annex,
while some new relevant legal acts and rules of the Union and some amendments to existing legal acts were adopted
and have to be added to the Annex.
(4) The Annex to the Monetary Agreement should therefore be amended accordingly,
HAS ADOPTED THIS DECISION:
Article 1
The Annex to the Monetary Agreement between the European Union and the Vatican City State is replaced by the text in
the Annex to this Decision.
Article 2
This Decision shall enter into force on the twentieth day following that of its publication in the Official Journal of the
European Union.
Done at Brussels, 23 January 2020.
For the Commission
The President
Ursula VON DER LEYEN
(1) OJ C 28, 4.2.2010, p. 13.24.1.2020 E N O f f i c i a l J o u r n a l o f t h e E u r o p e a n Union L 19/37
ANNEX
‘ANNEX
Legal provisions to be implemented Deadline for implementing
Prevention of money laundering
1 Council Framework Decision 2001/500/JHA of 26 June 2001 on money laundering,
the identification, tracing, freezing, seizing and confiscation of instrumentalities and
the proceeds of crime (OJ L 182, 5.7.2001, p. 1)
2 Directive 2014/42/EU of the European Parliament and of the Council of 3 April 31 December 2016 (2)
2014 on the freezing and confiscation of instrumentalities and proceeds of crime
in the European Union (OJ L 127, 29.4.2014, p. 39)
3 Regulation (EU) 2015/847 of the European Parliament and of the Council of 20 31 December 2017 (3)
May 2015 on information accompanying transfers of funds and repealing
Regulation (EC) No 1781/2006 (OJ L 141, 5.6.2015, p. 1)
4 Directive (EU) 2015/849 of the European Parliament and of the Council of 20 31 December 2017 (3)
May 2015 on the prevention of the use of the financial system for the purposes of
money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of
the European Parliament and of the Council, and repealing Directive 2005/60/EC of the
European Parliament and of the Council and Commission Directive 2006/70/EC (OJ L
141, 5.6.2015, p. 73)
Amended by:
5 Directive (EU) 2018/843 of the European Parliament and of the Council of 30 31 March 2020 (6)
May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the
financial system for the purposes of money laundering or terrorist financing, and
amending Directives 2009/138/EC and 2013/36/EU (OJ L 156, 19.6.2018, p. 43)
Supplemented by:
6 Commission Delegated Regulation (EU) 2016/1675 of 14 July 2016 31 December 2017 (5)
supplementing Directive (EU) 2015/849 of the European Parliament and of the
Council by identifying high-risk third countries with strategic deficiencies (OJ L
254, 20.9.2016, p. 1)
Amended by:
7 Commission Delegated Regulation (EU) 2018/105 of 27 October 2017 amending 31 March 2019 (6)
Delegated Regulation (EU) 2016/1675, as regards adding Ethiopia to the list of high-
risk third countries in the table in point I of the Annex (OJ L 19, 24.1.2018, p. 1)
8 Commission Delegated Regulation (EU) 2018/212 of 13 December 2017 31 March 2019 (6)
amending Delegated Regulation (EU) 2016/1675 supplementing Directive (EU)
2015/849 of the European Parliament and of the Council, as regards adding Sri
Lanka, Trinidad and Tobago, and Tunisia to the table in point I of the Annex (OJ L
41, 14.2.2018, p. 4)
9 Commission Delegated Regulation (EU) 2018/1108 of 7 May 2018 supplementing 31 December 2020 (7)
Directive (EU) 2015/849 of the European Parliament and of the Council with
regulatory technical standards on the criteria for the appointment of central contact
points for electronic money issuers and payment service providers and with rules on
their functions (OJ L 203, 10.8.2018, p. 2)
10 Commission Delegated Regulation (EU) 2018/1467 of 27 July 2018 amending 31 December 2019 (7)
Delegated Regulation (EU) 2016/1675 supplementing Directive (EU) 2015/849
of the European Parliament and of the Council, as regards adding Pakistan to the
table in point I of the Annex (OJ L 246, 2.10.2018, p. 1)L 19/38 E N O f f i c i a l J o u r n a l o f t h e E u r o p e a n Union 24.1.2020
Legal provisions to be implemented Deadline for implementing
11 Commission Delegated Regulation (EU) 2019/758 of 31 January 2019 31 December 2020 (7)
supplementing Directive (EU) 2015/849 of the European Parliament and of the
Council with regard to regulatory technical standards for the minimum action
and the type of additional measures credit and financial institutions must take to
mitigate money laundering and terrorist financing risk in certain third countries
(OJ L 125, 14.5.2019, p. 4)
12 Regulation (EU) 2018/1672 of the European Parliament and of the Council of 23 31 December 2021 (7)
October 2018 on controls on cash entering or leaving the Union and repealing
Regulation (EC) No 1889/2005 (OJ L 284, 12.11.2018, p. 6)
13 Directive (EU) 2018/1673 of the European Parliament and of the Council of 23 31 December 2021 (7)
October 2018 on combating money laundering by criminal law (OJ L 284,
12.11.2018, p. 22)
Prevention of fraud and counterfeiting
14 Council Regulation (EC) No 1338/2001 of 28 June 2001 laying down measures 31 December 2010
necessary for the protection of the euro against counterfeiting (OJ L 181,
4.7.2001, p. 6)
Amended by:
15 Council Regulation (EC) No 44/2009 of 18 December 2008 amending
Regulation (EC) No 1338/2001 laying down measures necessary for the
protection of the euro against counterfeiting (OJ L 17, 22.1.2009, p. 1)
16 Council Regulation (EC) No 2182/2004 of 6 December 2004 concerning medals 31 December 2010
and tokens similar to euro coins (OJ L 373, 21.12.2004, p. 1)
Amended by:
17 Council Regulation (EC) No 46/2009 of 18 December 2008 amending
Regulation (EC) No 2182/2004 concerning medals and tokens similar to euro
coins (OJ L 17, 22.1.2009, p. 5)
18 Directive 2014/62/EU of the European Parliament and of the Council of 15 May 31 December 2016 (2)
2014 on the protection of the euro and other currencies against counterfeiting by
criminal law, and replacing Council Framework Decision 2000/383/JHA (OJ L
151, 21.5.2014, p. 1)
19 Directive (EU) 2019/713 of the European Parliament and of the Council of 17 31 December 2021 (7)
April 2019 on combating fraud and counterfeiting of non-cash means of
payment and replacing Council Framework Decision 2001/413/JHA (OJ L 123,
10.5.2019, p. 18)
Rules on euro banknotes and coins
20 Council Conclusions of 10 May 1999 on the quality management system for euro 31 December 2010
coins
21 Guideline ECB/2003/5 of the European Central Bank of 20 March 2003 on the 31 December 2010
enforcement of measures to counter non-compliant reproductions of euro
banknotes and on the exchange and withdrawal of euro banknotes (OJ L 78,
25.3.2003, p. 20).
Amended by :
22 Guideline ECB/2013/11 of the European Central Bank of 19 April 2013 31 December 2014 (1)
amending Guideline ECB/2003/5 on the enforcement of measures to counter
non-compliant reproductions of euro banknotes and on the exchange and
withdrawal of euro banknotes (OJ L 118, 30.4.2013, p. 43)24.1.2020 E N O f f i c i a l J o u r n a l o f t h e E u r o p e a n Union L 19/39
Legal provisions to be implemented Deadline for implementing
23 Decision ECB/2010/14 of the European Central Bank of 16 September 2010 on 31 December 2012
the authenticity and fitness checking and recirculation of euro banknotes (OJ L 267,
9.10.2010, p. 1)
Amended by:
24 Decision ECB/2012/19 of the European Central Bank of 7 September 2012 (OJ L 31 December 2013 (1)
253, 20.9.2012, p. 19)
25 Regulation (EU) No 1210/2010 of the European Parliament and of the Council of 31 December 2012
15 December 2010 concerning authentication of euro coins and handling of euro
coins unfit for circulation (OJ L 339, 22.12.2010, p. 1)
26 Regulation (EU) No 651/2012 of the European Parliament and of the Council of 4 31 December 2013 (1)
July 2012 on the issuance of euro coins (OJ L 201, 27.7.2012, p. 135)
27 Decision ECB/2013/10 of the European Central Bank of 19 April 2013 on the 31 December 2014 (1)
denominations, specifications, reproduction, exchange and withdrawal of euro
banknotes (OJ L 118, 30.4.2013, p. 37)
Amended by:
28 Decision (EU) 2019/669 of the European Central Bank of 4 April 2019 amending 31 December 2020 (7)
Decision ECB/2013/10 on the denominations, specifications, reproduction,
exchange and withdrawal of euro banknotes (OJ L 113, 29.4.2019, p. 6)
29 Council Regulation (EU) No 729/2014 of 24 June 2014 on denominations and 31 December 2013 (2)
technical specifications of euro coins intended for circulation (OJ L 194,
2.7.2014, p. 1)
Section of the Annex to the Monetary Agreement in accordance with the ad hoc arrangement of the
Joint Committee on a request from the Holy See and Vatican City State on the inclusion of relevant
rules applicable to entities carrying out financial activities on a professional basis
Relevant parts of the following legal instruments Deadline for implementing
30 Council Directive 86/635/EEC of 8 December 1986 on the annual accounts and 31 December 2016 (2)
consolidated accounts of banks and other financial institutions (OJ L 372,
31.12.1986, p. 1)
Amended by:
31 Directive 2001/65/EC of the European Parliament and of the Council of 27
September 2001 (OJ L 283, 27.10.2001, p. 28)
32 Directive 2003/51/EC of the European Parliament and of the Council of 18 June
2003 (OJ L 178, 17.7.2003, p. 16)
33 Directive 2006/46/EC of the European Parliament and of the Council of 14 June
2006 (OJ L 224, 16.8.2006, p. 1)
34 Directive 2013/36/EU of the European Parliament and of the Council of 26 June 31 December 2017 (2)
2013 on access to the activity of credit institutions and the prudential supervision
of credit institutions and investment firms, amending Directive 2002/87/EC and
repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27.6.2013, p. 338)L 19/40 E N O f f i c i a l J o u r n a l o f t h e E u r o p e a n Union 24.1.2020
Relevant parts of the following legal instruments Deadline for implementing
35 Regulation (EU) No 575/2013 of the European Parliament and of the Council of 31 December 2017 (2)
26 June 2013 on prudential requirements for credit institutions and investment
firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1)
and the related level 2 measures as appropriate
Amended by:
36 Regulation (EU) 2017/2395 of the European Parliament and of the Council of 30 June 2019 (6)
12 December 2017 amending Regulation (EU) No 575/2013 as regards
transitional arrangements for mitigating the impact of the introduction of IFRS 9
on own funds and for the large exposures treatment of certain public sector
exposures denominated in the domestic currency of any Member State (OJ L 345,
27.12.2017, p. 27)
37 Regulation (EU) 2017/2401 of the European Parliament and of the Council of 31 March 2020 (6)
12 December 2017 amending Regulation (EU) No 575/2013 on prudential
requirements for credit institutions and investment firms (OJ L 347, 28.12.2017,
p. 1)
38 Regulation (EU) 2019/630 of the European Parliament and of the Council of 17 31 December 2020 (7)
April 2019 amending Regulation (EU) No 575/2013 as regards minimum loss
coverage for non-performing exposures (OJ L 111, 25.4.2019, p. 4)
39 Regulation (EU) No 596/2014 of the European Parliament and of the Council of 30 September 2018 (4)
16 April 2014 on market abuse (market abuse regulation) and repealing Directive
2003/6/EC of the European Parliament and of the Council and Commission
Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ L 173, 12.6.2014,
p. 1) and the related level 2 measures as appropriate
Amended by:
40 Regulation (EU) 2016/1033 of the European Parliament and of the Council of 30 September 2018 (5)
23 June 2016 amending Regulation (EU) No 600/2014 on markets in financial
instruments, Regulation (EU) No 596/2014 on market abuse and Regulation (EU)
No 909/2014 on improving securities settlement in the European Union and on
central securities depositories (OJ L 175, 30.6.2016, p. 1)
41 Directive 2014/57/EU of the European Parliament and of the Council of 16 April 30 September 2018 (4)
2014 on criminal sanctions for market abuse (market abuse directive) (OJ L 173,
12.6.2014, p. 179)
Legislation on collection of statistical information (*)
42 Guideline ECB/2013/24 of the European Central Bank of 25 July 2013 on the 31 December 2016 (2)
statistical reporting requirements of the European Central Bank in the field of
quarterly financial accounts (OJ L 2, 7.1.2014, p. 34)
Amended by:
43 Guideline (EU) 2016/66 of the European Central Bank of 26 November 2015 31 March 2017 (4)
amending Guideline ECB/2013/24 on the statistical reporting requirements of
the ECB in the field of quarterly financial accounts (ECB/2015/40) (OJ L 14,
21.1.2016, p. 36)24.1.2020 E N O f f i c i a l J o u r n a l o f t h e E u r o p e a n Union L 19/41
Relevant parts of the following legal instruments Deadline for implementing
44 Regulation (EU) No 1071/2013 of the European Central Bank of 31 December 2016 (2)
24 September 2013 concerning the balance sheet of the monetary financial
institutions sector (ECB/2013/33) (OJ L 297, 7.11.2013, p. 1)
Amended by:
45 Regulation (EU) No 1375/2014 of the European Central Bank of 10 December
2014 amending Regulation (EU) No 1071/2013 concerning the balance sheet of
the monetary financial institutions sector (ECB/2013/33) (ECB/2014/51) (OJ L
366, 20.12.2014, p. 77)
46 Regulation (EU) No 1072/2013 of the European Central Bank of 24 September 31 December 2016 (2)
2013 concerning statistics on interest rates applied by monetary financial
institutions (ECB/2013/34) (OJ L 297, 7.11.2013, p. 51)
Amended by:
47 Regulation (EU) No 756/2014 of the European Central Bank of 8 July 2014
amending Regulation (EU) No 1072/2013 (ECB/2013/34) concerning statistics
on interest rates applied by monetary financial institutions (ECB/2014/30) (OJ L
205, 12.7.2014, p. 14)
48 Guideline ECB/2014/15 of the European Central Bank of 4 April 2014 on 31 December 2016 (2)
monetary and financial statistics (OJ L 340, 26.11.2014, p. 1)
Amended by:
49 Guideline (EU) 2015/571 of the European Central Bank of 6 November 2014
amending Guideline ECB/2014/15 on monetary and financial statistics
(ECB/2014/43) (OJ L 93, 9.4.2015, p. 82)
50 Guideline (EU) 2016/450 of the European Central Bank of 4 December 2015 31 March 2017 (4)
amending Guideline ECB/2014/15 on monetary and financial statistics
(ECB/2015/44) (OJ L 86, 1.4.2016, p. 42)
51 Guideline (EU) 2017/148 of the European Central Bank of 16 December 2016 1 November 2017 (5)
amending Guideline ECB/2014/15 on monetary and financial statistics
(ECB/2016/45) (OJ L 26, 31.1.2017, p. 1)
52 Guideline (EU) 2018/877 of the European Central Bank of 1 June 2018 amending 1 October 2019’ (6)
Guideline ECB/2014/15 on monetary and financial statistics (ECB/2018/17) (OJ L
154, 18.6.2018, p. 22)
(1) These deadlines were agreed by the Joint Committee of 2013.
(2) These deadlines were agreed by the Joint Committee of 2014.
(3) These deadlines were agreed by the Joint Committee of 2015.
(4) These deadlines were agreed by the Joint Committee of 2016.
(5) These deadlines were agreed by the Joint Committee of 2017.
(6) These deadlines were agreed by the Joint Committee of 2018.
(7) These deadlines were agreed by the Joint Committee of 2019.
(*) As agreed under the template on simplified statistical reporting.