Executive Summary:
This document is a decision by the European Central Bank (ECB) amending Decision ECB/2010/29 regarding the issue of euro banknotes. The amendment updates the banknote allocation key to reflect new capital key weightings, effective from 1 January 2024. This decision revises Annex I of Decision ECB/2010/29, which specifies the updated banknote allocation key.
Key Points / Main Content:
* **Amendment of Decision ECB/2010/29:**
* Article 1d of Decision ECB/2010/29 is amended to specify that Annex I details the banknote allocation key applicable from 1 January 2024.
* Annex I of Decision ECB/2010/29 is replaced with a new annex specifying the updated banknote allocation key.
* **Banknote Allocation Key:**
* The updated banknote allocation key, effective 1 January 2024, is detailed in the new Annex I, listing percentage allocations for each national central bank and the ECB.
* **Entry into Force:**
* This decision takes effect on 1 January 2024.
Impact Analysis:
* **European Central Bank (ECB):**
* Impact: The ECB's share of the banknote allocation key is set at 8.0000. The ECB is responsible for implementing the updated allocation key.
* Action Required: Update internal systems and procedures to reflect the new banknote allocation key from 1 January 2024.
* **National Central Banks:**
* Impact: National Central Banks' (NCBs) percentage share in the banknote allocation key is adjusted as detailed in Annex I.
* Action Required: Adjust banknote issuance and allocation processes to align with the new allocation key percentages specified for each NCB, effective 1 January 2024.
Key Entities Referenced
European Central Bank: The central bank of the European Union countries that have adopted the euro.
Treaty on the Functioning of the European Union: A key treaty outlining the scope of the European Union's powers.
Statute of the European System of Central Banks and of the European Central Bank: The legal framework governing the ESCB and ECB.
European System of Central Banks: The central banking system of the European Union.
Decision EU 2023/2815: A decision of the European Central Bank amending Decision ECB/2010/29 on the issue of euro banknotes.
Decision ECB/2010/29: Decision of the European Central Bank on the issue of euro banknotes.
Frankfurt am Main: City in Hesse, Germany; location where the decision was made.
Christine Lagarde: The President of the European Central Bank.
Official Journal EN
of the European Union L series
2023/2815 18.12.2023
DECISION (EU) 2023/2815 OF THE EUROPEAN CENTRAL BANK
of 7 December 2023
amending Decision ECB/2010/29 on the issue of euro banknotes (ECB/2023/35)
the governing council of the European Central Bank,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 128(1) thereof,
Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular
Article 16 thereof,
Whereas:
(1) Decision (EU) 2023/2811 of the European Central Bank (ECB/2023/31)(1)provides for the adjustment of the key for
subscription to the capital of the European Central Bank (ECB) (hereinafter the ‘capital key’) in accordance with
Article 29.3 and 29.4 of the Statute of the European System of Central Banks and of the European Central Bank
and establishes, with effect from 1 January 2024, new weightings assigned to the national central banks in the
adjusted capital key (hereinafter the ‘capital key weightings’).
(2) Article 1(d) of Decision ECB/2010/29 of the European Central Bank(2) defines the ‘banknote allocation key’ and
refers to Annex I to that Decision, which specifies the banknote allocation key applying since 1 January 2023.
Given that new capital key weightings will apply from 1 January 2024, Decision ECB/2010/29 needs to be
amended in order to determine the banknote allocation key applying from that date,
HAS ADOPTED THIS DECISION:
Article 1
Amendments
Decision ECB/2010/29 is amended as follows:
1. The final sentence of Article 1(d) is replaced by the following:
‘Annex I to this Decision specifies the banknote allocation key that shall apply from 1 January 2024.’;
2. Annex I is replaced by the Annex to this Decision.
Article 2
Entry into force
This Decision shall enter into force on 1 January 2024.
Done at Frankfurt am Main, 7 December 2023.
The President of the ECB
Christine LAGARDE
(1) Decision (EU) 2023/2811 of the European Central Bank of 7 December 2023 on the national central banks’ percentage shares in the
key for subscription to the European Central Bank’s capital and repealing Decision (EU) 2020/137 (ECB/2020/3) (ECB/2023/31) (OJ L,
2023/2811,18.12.2023, ELI: http://data.europa.eu/eli/dec/2023/2811/oj).
(2) Decision ECB/2010/29 of the European Central Bank of 13 December 2010 on the issue of euro banknotes (OJ L 35, 9.2.2011, p. 26).
ELI: http://data.europa.eu/eli/dec/2023/2815/oj 1/2EN
OJ L, 18.12.2023
ANNEX
‘ANNEX I
BANKNOTE ALLOCATION KEY FROM 1 JANUARY 2024
European Central Bank 8,0000%
Nationale Bank van België/Banque Nationale de Belgique 3,3760%
Deutsche Bundesbank 24,4995%
Eesti Pank 0,2740%
Central Bank of Ireland 2,0040%
Bank of Greece 2,0785%
Banco de España 10,8790%
Banque de France 18,4045%
Hrvatska narodna banka 0,7120%
Banca d’Italia 14,7385%
Central Bank of Cyprus 0,2025%
Latvijas Banka 0,3565%
Lietuvos bankas 0,5430%
Banque centrale du Luxembourg 0,3350%
Central Bank of Malta 0,1190%
De Nederlandsche Bank 5,4350%
Oesterreichische Nationalbank 2,7200%
Banco de Portugal 2,1395%
Banka Slovenije 0,4545%
Národná banka Slovenska 1,0580%
Suomen Pankki 1,6710%
TOTAL 100,0000%’
2/2 ELI: http://data.europa.eu/eli/dec/2023/2815/oj