2011/15/EU: Decision of the European Central Bank of 20 December 2010 concerning the opening of accounts for the processing of payments in connection with EFSF loans to Member States whose currency is the euro (ECB/2010/31)
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 ↗
Opening of cash accounts
The ECB may, upon request of the NCB of a borrower Member State, open cash accounts in the name of such NCB for the processing of payments in connection with a Loan Facility Agreement (hereinafter an ‘NCB cash account’).
Acceptance of payments on the cash accounts
An NCB cash account shall only be used to process payments in connection with a Loan Facility Agreement.
Acceptance of instructions
The ECB shall, in relation to an NCB cash account, only accept instructions from the NCB holding the account.
Balance of cash accounts
No amount shall be standing to the debit of an NCB cash account at any time. Therefore, no payments shall be effected from such accounts beyond the amount standing to the credit of these accounts.
Remuneration
The ECB shall pay interest on the balance standing overnight to the credit of an NCB cash account in an amount equal to the applicable ECB deposit facility rate on an actual/360 basis.
Entry into force
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.