2011/728/: Decision of the European Central Bank of 31 October 2011 amending Decision ECB/2010/15 concerning the administration of EFSF loans to Member States whose currency is the euro, and amending Decision ECB/2010/31 concerning the opening of accounts for the processing of payments in connection with EFSF loans to Member States whose currency is the euro (ECB/2011/16)

Decision · 3 articles

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 ↗

Acceptance of payments on the cash account

Article 1

Decision ECB/2010/15 is amended as follows: (1) Article 2 is replaced by the following: ‘Article 2 Acceptance of payments on the cash account The ECB shall only accept payments to be made to or from the cash account opened in the name of EFSF, if those payments arise in connection with the Loan Facility Agreements or the Financial Assistance Facility Agreements.’; (2) Article 4 is replaced by the following: ‘Article 4 Balance of the cash account No amount shall be standing to the credit of the cash account opened in the name of EFSF after payments have been made in relation to any Loan Facility Agreement or Financial Assistance Facility Agreement, nor shall amounts be transferred to such cash account before the day on which payments need to be made in relation to any Loan Facility Agreement or Financial Assistance Facility Agreement. No amount shall be standing to the debit of the cash account opened in the name of EFSF at any time. Therefore, no payments shall be effected from the cash account opened in the name of EFSF beyond the amounts standing to the credit of that account.’.

Opening of cash accounts

Article 2

Decision ECB/2010/31 is amended as follows: (1) Article 1 is replaced by the following: ‘Article 1 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 or Financial Assistance Facility Agreement (hereinafter an ‘NCB cash account’).’; (2) Article 2 is replaced by the following: ‘Article 2 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 or Financial Assistance Facility Agreement.’.

Entry into force

Article 3

This Decision shall enter into force on 2 November 2011.

Other acts of the same type

Decision (EU) 2015/299 of the European Central Bank of 10 February 2015 amending Decision ECB/2014/34 on measures relating to targeted longer-term refinancing operations (ECB/2015/5)Council Decision (EU) 2015/214 of 10 February 2015 endorsing the Shift2Rail Master Plan Council Implementing Decision (EU) 2015/215 of 10 February 2015 on the putting into effect of the provisions of the Schengen acquis on data protection and on the provisional putting into effect of parts of the provisions of the Schengen acquis on the Schengen Information System for the United Kingdom of Great Britain and Northern Ireland Council Decision (Euratom) 2015/224 of 10 February 2015 amending Decision 2007/198/Euratom establishing the European Joint Undertaking for ITER and the Development of Fusion Energy and conferring advantages upon it Council Decision (EU) 2015/238 of 10 February 2015 on the conclusion, on behalf of the European Union, of the Agreement between the European Union and the Republic of the Seychelles on access for fishing vessels flying the flag of the Seychelles to waters and marine biological resources of Mayotte, under the jurisdiction of the European Union Council Decision (EU) 2015/239 of 10 February 2015 on the conclusion, on behalf of the European Union, of the Protocol setting out the fishing opportunities and financial contribution provided for in the Fisheries Partnership Agreement between the European Union and the Democratic Republic of São Tomé and Príncipe Council Decision (EU) 2016/430 of 10 February 2015 on the conclusion of the Cooperation Agreement on a Civil Global Navigation Satellite System (GNSS) between the European Community and its Member States and the Kingdom of Morocco Council Decision (CFSP) 2015/203 of 9 February 2015 in support of the Union proposal for an international Code of Conduct for outer-space activities as a contribution to transparency and confidence-building measures in outer-space activities Council Decision (CFSP) 2015/241 of 9 February 2015 amending Decision 2014/145/CFSP concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine Commission Decision (EU) 2015/191 of 5 February 2015 amending Decision 2010/670/EU as regards the extension of certain time limits laid down in Article 9 and Article 11(1) of that Decision (notified under document C(2015) 466)Decision (EU) 2015/656 of the European Central Bank of 4 February 2015 on the conditions under which credit institutions are permitted to include interim or year-end profits in Common Equity Tier 1 capital in accordance with Article 26(2) of Regulation (EU) No 575/2013 (ECB/2015/4)Commission Decision (EU) 2015/667 of 4 February 2015 on State aid SA.14551 (2013/C) implemented by France resulting from the change to the conditions for aid granted to time charterers under the tonnage tax scheme (notified under document number C(2015) 434) (Text with EEA relevance)

Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.

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