2010/624/EU: Decision of the European Central Bank of 14 October 2010 concerning the administration of the borrowing and lending operations concluded by the Union under the European financial stabilisation mechanism (ECB/2010/17)
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 ↗
The ECB shall perform the tasks in relation to the administration of loans, and shall effect payments connected with the Union’s borrowing and lending operations under the European financial stabilisation mechanism, as stipulated in Regulation (EU) No 407/2010.
The ECB shall, upon request of the Commission, open accounts in the name of the Commission and, upon request of a national central bank of a beneficiary Member State, open accounts in the name of such national central bank.
The accounts referred to in Article 2 shall be used to process payments in connection with the European financial stabilisation mechanism for the benefit of Member States.
The ECB shall pay interest on the balance standing overnight to the credit of such accounts in an amount equivalent to the applicable ECB deposit facility rate on an actual/360 basis.
The ECB’s Executive Board shall make all the arrangements necessary to give effect to this Decision.
This Decision shall enter into force on the day following its publication in the Official Journal of the European Union .
Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.