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Date: 2023-11-28 Category: Not Applicable State: Union Government Country: Europe

Decision (EU) 2023/2684 of the European Central Bank of 21 November 2023 on the approval of the volume of coin issuance in 2024 (ECB/2023/28)

Issued by European Central Bank · Not Applicable

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Executive Summary & Key Takeaways

Executive Summary: This decision by the European Central Bank (ECB) approves the volume of euro coins to be issued by euro area Member States in 2024. It is based on requests submitted by the 20 euro area Member States and takes effect upon notification to the addressees. The approved volumes must not be exceeded without prior ECB approval. Key Points / Main Content: * **Approval of Coin Issuance:** The ECB approves the volume of euro coins to be issued by euro area Member States in 2024, as detailed in the provided table (Article 2). * **Volume Limits:** Euro area Member States cannot exceed the approved volumes without prior approval from the ECB (Point 3 of Whereas). * **Definitions:** The definitions in Article 1 of Decision EU 2015/2332 (ECB/2015/43) apply to this Decision (Article 1). * **Effective Date:** This Decision takes effect on the day of its notification to the addressees (Article 3). * **Addressees:** The addressees of this Decision are the Member States whose currency is the euro (Article 4). Impact Analysis * **Euro Area Member States** * *Impact:* Member States are authorized to issue euro coins in 2024 up to the approved volumes specified in Article 2. They are bound by the decision. * *Action Required:* Member States must adhere to the approved issuance volumes and seek prior approval from the ECB for any increases. * **European Central Bank (ECB)** * *Impact:* The ECB retains control over the volume of euro coin issuance by euro area Member States and is responsible for monitoring compliance. * *Action Required:* The ECB must notify the Member States of this decision.

Key Entities Referenced

Belgium: Euro area Member State issuing euro coins in 2024. Germany: Euro area Member State issuing euro coins in 2024. European Central Bank: The central bank of the Eurozone, responsible for the monetary policy of the euro area. Treaty on the Functioning of the European Union: A primary treaty of the European Union, outlining its objectives, organization, and decision-making processes. Decision EU 2015/2332: A decision of the European Central Bank regarding the procedural framework for the approval of the volume of euro coin issuance. Eurozone: The group of European Union member states that have adopted the euro as their common currency. Christine Lagarde: The President of the European Central Bank. Frankfurt am Main: The city in Germany where the European Central Bank is located.
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Official Journal EN of the European Union L series 2023/2684 28.11.2023 DECISION (EU) 2023/2684 OF THE EUROPEAN CENTRAL BANK of 21 November 2023 on the approval of the volume of coin issuance in 2024 (ECB/2023/28) THE EXECUTIVE BOARD OF THE EUROPEAN CENTRAL BANK, Having regard to the Treaty on the Functioning of the European Union, and in particular Article 128(2) thereof, Having regard to Decision (EU) 2015/2332 of the European Central Bank of 4 December 2015 on the procedural framework for the approval of the volume of euro coin issuance (ECB/2015/43)(1), and in particular Article 2(9) thereof, Whereas: (1) The European Central Bank (ECB) has the exclusive right since 1 January 1999to approve the volume of coins issued by the Member States whose currency is the euro (hereinafter ‘euro area Member States’). (2) The 20 euro area Member States have submitted to the ECB their requests for the approval of the volume of coins to be issued in 2024, supplemented by explanatory notes on the forecasting methodology. Certain of these euro area Member States have also provided additional information regarding circulation coins, where such information is available and considered important by the euro area Member States concerned to substantiate the approval request. (3) As the right of euro area Member States to issue euro coins is subject to approval by the ECB of the volume of the issue, in accordance with Article 3(1) of Decision (EU) 2015/2332 (ECB/2015/43), the volumes approved by the ECB may not be exceeded by the euro area Member States without prior approval by the ECB. (4) Pursuant to Article 2(9) of Decision (EU) 2015/2332 (ECB/2015/43), since no modification of the requested volume of coin issuance is required, the Executive Board is empowered to adopt this decision on the annual approval requests for the volume of coin issuance in 2024 submitted by euro area Member States, HAS ADOPTED THIS DECISION: Article 1 Definitions For the purposes of this Decision, the definitions in Article 1 of Decision (EU) 2015/2332 (ECB/2015/43) apply. (1) OJ L 328, 12.12.2015, p. 123. ELI: http://data.europa.eu/eli/dec/2023/2684/oj 1/3EN OJ L, 28.11.2023 Article 2 Approval of the volume of euro coins to be issued in 2024 The ECB hereby approves the volume of euro coins to be issued by euro area Member States in 2024 as set out in the following table: Volume of euro coins approved for issuance in 2024 Collector coins Circulation coins Volume of coin issuance (not intended for circulation) (EUR million) (EUR million) (EUR million) Belgium 22,40 0,30 22,70 Germany 419,00 172,00 591,00 Estonia 12,60 0,46 13,06 Ireland 32,36 0,50 32,86 Greece 129,90 0,61 130,51 Spain 280,47 40,00 320,47 France 334,00 60,00 394,00 Italy 268,81 4,88 273,69 Cyprus 6,50 0,01 6,51 Croatia 42,78 0,20 42,98 Latvia 7,90 0,20 8,10 Lithuania 12,00 0,48 12,48 Luxembourg 13,50 0,32 13,82 Malta 6,70 0,50 7,20 Netherlands 34,00 1,00 35,00 Austria 128,50 176,76 305,26 Portugal 74,60 1,70 76,30 Slovenia 22,00 1,00 23,00 Slovakia 14,00 2,50 16,50 Finland 10,00 5,00 15,00 Total 1 872,02 468,42 2 340,44 Article 3 Taking effect This Decision shall take effect on the day of its notification to the addressees. Article 4 Addressees This Decision is addressed to the Member States whose currency is the euro. 2/3 ELI: http://data.europa.eu/eli/dec/2023/2684/ojEN OJ L, 28.11.2023 Done at Frankfurt am Main, 21 November 2023. The President of the ECB Christine LAGARDE ELI: http://data.europa.eu/eli/dec/2023/2684/oj 3/3

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