Article 2 of Decision (EU) 2019/1743 (ECB/2019/31) is amended as follows:
(1)
paragraph 1 is replaced by the following:
‘1. The holdings in the following accounts maintained with the ECB shall be remunerated at the euro short-term rate (€STR) minus 20 basis points:
(a)
accounts maintained in accordance with Decision ECB/2003/14 of the European Central Bank ( *1 ) , Decision ECB/2010/4 of the European Central Bank ( *2 ) , Decision ECB/2010/17 of the European Central Bank ( *3 ) , Decision ECB/2010/31 of the European Central Bank ( *4 ) , and Council Regulation (EU) 2020/672 ( *5 ) ;
(b)
other deposit accounts for the European Stability Mechanism and for the European Financial Stability Facility not covered under point (a).
However, when deposits need to be held in the relevant accounts in advance of the date on which a payment must be made in accordance with the legal or contractual rules applicable to the relevant facility, such deposits shall be remunerated during this advance period at zero per cent or the euro short-term rate (€STR), whichever is higher.
( *1 ) Decision ECB/2003/14 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 ( OJ L 297, 15.11.2003, p. 35 )."
( *2 ) Decision ECB/2010/4 of the European Central Bank of 10 May 2010 concerning the management of pooled bilateral loans for the benefit of the Hellenic Republic and amending Decision ECB/2007/7 ( OJ L 119, 13.5.2010, p. 24 )."
( *3 ) Decision ECB/2010/17 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 ( OJ L 275, 20.10.2010, p. 10 )."
( *4 ) Decision ECB/2010/31 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 ( OJ L 10, 14.1.2011, p. 7 )."
( *5 ) Council Regulation (EU) 2020/672 of 19 May 2020 on the establishment of a European instrument for temporary support to mitigate unemployment risks in an emergency (SURE) following the COVID-19 outbreak ( OJ L 159, 20.5.2020, p. 1 ).’;"
(2)
paragraph 2 is replaced by the following:
‘2. The rate specified in paragraph 1 shall also apply to the dedicated account maintained with the ECB in accordance with Article 13(2) of Commission Implementing Decision of 14 April 2021 establishing the necessary arrangements for the administration of the borrowing operations under Council Decision (EU, Euratom) 2020/2053 and for the lending operations related to loans granted in accordance with Article 15 of Regulation (EU) 2021/241 of the European Parliament and of the Council ( * ) and used for the purposes of prudential cash holdings in relation to:
(a)
NextGenerationEU (“NGEU”);
(b)
the Instrument for providing support to Ukraine for 2023 (macro-financial assistance+) ( ** ) ;
(c)
any other European Union financing programme which the ECB and the Commission may agree to include.
However, an aggregate amount of deposits held in that dedicated account not exceeding EUR 20 billion shall be remunerated at zero per cent or the euro short-term rate (€STR) minus 20 basis points, whichever is higher.
( * ) C(2021)2502 final."
( ** ) Regulation (EU) 2022/2463 of the European Parliament and of the Council of 14 December 2022 establishing an Instrument for providing support to Ukraine for 2023 (macro-financial assistance+) ( OJ L 322, 16.12.2022, p. 1 ).’."