Article 1
The ECB shall perform the tasks stipulated in Article 9 of Regulation (EC) No 332/2002, in the manner described in Articles 2 to 8 hereafter.
2003/797/EC: Decision of the European Central Bank of 7 November 2003 concerning the administration of the borrowing-and-lending operations concluded by the European Community under the medium-term financial assistance facility (ECB/2003/14)
2003/797/EC: Decision of the European Central Bank of 7 November 2003 concerning the administration of the borrowing-and-lending operations concluded by the European Community under the medium-term financial assistance facility (ECB/2003/14)
Data as of 2026-07-04 · Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
Article 2
Payments connected with the European Community's borrowing-and-lending operations shall be effected through the accounts that the ECB shall open in the ECB's name.
Article 3
1. Funds received by the ECB, for the account of the European Community, under borrowing arrangements entered into by the latter, shall be transferred on the same value date to the account specified by the national central bank of the Member State receiving the corresponding loan. 2. Funds received by the ECB, for the account of the European Community, in respect of payment of interest or repayment of the principal from the Member State that has received the loan, shall be transferred on the same value date to the accounts specified by the creditors under the borrowing arrangements entered into by the European Community.
Article 4
For each borrowing and lending operation the ECB shall open the following accounts in euro in its books: (a) a nostro account entitled "Balances in euro held with ..." corresponding to the funds received for the account of the European Community; (b) an account on the liabilities side forming the counterpart of the account referred to under (a); (c) a memorandum account, entitled "European Community liabilities in respect of European Community borrowing operations", divided, where applicable, into sub-accounts corresponding to the individual creditors in respect of borrowing arrangements; (d) a memorandum account, entitled "European Community claims in respect of European Community lending operations".
Article 5
The ECB shall book the financial operations described in Article 3 on their value date by debiting or crediting the accounts mentioned in Article 4.
Article 6
1. The ECB shall check the due dates laid down in the borrowing-and-lending arrangements for the payment of interest and the repayment of the principal. 2. At least 15 calendar days before each due date the ECB shall notify the national central bank of the Member State that is in debt to the European Community.
Article 7
The ECB shall immediately inform the European Commission in writing of any operation which it has carried out for the account of the European Community. The ECB shall address such communications to the attention of the Directorate-General for Economic and Financial Affairs at the European Commission.
Article 8
At the end of each calendar year, the ECB shall prepare a report to inform the European Commission of the financial operations it has carried out during the year in connection with borrowing-and-lending operations. This report shall contain a statement of the European Community's claims and liabilities arising out of the borrowing-and-lending operations.
Article 9
Decision ECB/1998/NP2 and Decision ECB/1998/NP15 are hereby repealed.
Article 10
The Executive Board of the ECB shall make all the arrangements necessary to give effect to this Decision.
Article 11
This Decision shall enter into force on the day following its publication in the Official Journal of the European Union. Done at Frankfurt am Main, 7 November 2003. On behalf of the General Council of the ECB Jean-Claude Trichet (1) OJ L 53, 23.2.2002, p. 1. (2) Published as Annex V to Decision ECB/2000/12 of 10 November 2000 on the publication of certain legal acts and instruments of the European Central Bank (OJ L 55, 24.2.2001, p. 76). (3) OJ L 178, 8.7.1988, p. 1; Regulation as amended by the 1994 Act of Accession.
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Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.
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