2023/2816

18.12.2023

DECISION (EU) 2023/2816 OF THE EUROPEAN CENTRAL BANK

of 7 December 2023

on the paying-up of the European Central Bank’s capital by the non-euro area national central banks and repealing Decision (EU) 2020/136 (ECB/2020/2)

(ECB/2023/36)

THE GENERAL COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 47 thereof,

Whereas:

(1) Article 47 of the Statute of the European System of Central Banks and of the European Central Bank (hereinafter the ‘Statute of the ESCB’) provides that national central banks of Member States with a derogation (hereinafter ‘non-euro area NCBs’) do not need to pay up their subscribed capital unless the General Council of the European Central Bank (ECB), acting by a majority representing at least two-thirds of the subscribed capital of the ECB and at least half of the shareholders, decides that a minimal percentage has to be paid up as a contribution to the ECB’s operational costs.

(2) Article 1 of Decision (EU) 2020/136 of the European Central Bank (ECB/2020/2) (1) provides that each non-euro area NCB shall pay up 3,75 % of its share in the ECB’s subscribed capital with effect from 1 February 2020.

(3) Decision (EU) 2023/2811 of the European Central Bank (ECB/2023/31) (2) provides for the adjustment of the key for subscription to the ECB’s capital (hereinafter the ‘capital key’) in accordance with Article 29.3 of the Statute of the ESCB and establishes with effect from 1 January 2024 the new weightings assigned to each NCB in the adjusted capital key (hereinafter the ‘capital key weightings’).

(4) The quinquennial adjustment of the ECB’s capital key requires the adoption of a new ECB decision repealing Decision (EU) 2020/136 (ECB/2020/2) with effect from 1 January 2024 and determining the percentage of the ECB’s subscribed capital which the non-euro area NCBs are under an obligation to pay up with effect from 1 January 2024,

HAS ADOPTED THIS DECISION:

Article 1

Extent and form of subscribed and paid-up capital

Each non-euro area NCB shall pay up 3,75 % of its share in the ECB’s subscribed capital with effect from 1 January 2024. Taking into account the new capital key weightings laid down in Article 2 of Decision (EU) 2023/2811 (ECB/2023/31), each non-euro area NCB shall have a total subscribed and paid-up capital of the amounts shown next to its name in the following table:

Article 2

Adjustment of the paid-up capital

1.   Given that each non-euro area NCB has already paid up 3,75 % of its share in the ECB’s subscribed capital as applicable on 31 December 2023 under Decision (EU) 2020/136 (ECB/2020/2), each of them shall either transfer an additional amount to the ECB or receive an amount back from the ECB, as appropriate, in order to arrive at the amounts shown in the third column of the table in Article 1.

2.   All transfers pursuant to this Article shall be made in accordance with Decision (EU) 2023/2817 of the European Central Bank (ECB/2023/33) (3).

Article 3

Entry into force and repeal

1.   This Decision shall enter into force on 1 January 2024.

2.   Decision (EU) 2020/136 (ECB/2020/2) is repealed with effect from 1 January 2024.

3.   References to Decision (EU) 2020/136 (ECB/2020/2) shall be construed as references to this Decision.

Done at Frankfurt am Main, 7 December 2023.

The President of the ECB

Christine LAGARDE

(1)  Decision (EU) 2020/136 of the European Central Bank of 22 January 2020 on the paying-up of the European Central Bank’s capital by the non-euro area national central banks and repealing Decision (EU) 2019/48 (ECB/2020/2) (

OJ L 27I, 1.2.2020, p. 1

).

(2)  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

).

(3)  Decision (EU) 2023/2817 of the European Central Bank of 7 December 2023 laying down the terms and conditions for transfers of the European Central Bank’s capital shares between the national central banks and for the adjustment of the paid-up capital and repealing Decision (EU) 2020/139 (ECB/2020/5) (ECB/2023/33) (

OJ L, 2023/2817,18.12.2023, ELI: http://data.europa.eu/eli/dec/2023/2817/oj

).

ELI: http://data.europa.eu/eli/dec/2023/2816/oj

ISSN 1977-0677 (electronic edition)