Decision (EU) 2023/2817 of the European Central Bank of 7 December 2023 laying down the terms and conditions for transfers of the European Central Bank’s capital shares between the national central banks and for the adjustment of the paid-up capital and repealing Decision (EU) 2020/139 (ECB/2020/5) (ECB/2023/33)
Transfer of capital shares
Given the share in the ECB’s capital that each NCB will have subscribed on 31 December 2023, and the share in the ECB’s capital that each NCB will subscribe with effect from 1 January 2024 as a consequence of the adjustment of the capital key weightings laid down in Article 2 of Decision (EU) 2023/2811 (ECB/2023/31), the NCBs shall transfer capital shares among themselves via transfers to and from the ECB to ensure that the distribution of capital shares with effect from 1 January 2024 corresponds to the adjusted weightings. To this effect, each NCB shall, by virtue of this Article and without the need for any further formality or act, be deemed to have either transferred or received with effect from 1 January 2024 the share in the ECB’s subscribed capital shown next to its name in the fourth column of the table in Annex I to this Decision, whereby ‘+’ shall refer to a capital share that the ECB shall transfer to the NCB and ‘-’ to a capital share that the NCB shall transfer to the ECB.
Adjustment of the paid-up capital
1. Given the amount of the ECB’s capital that each NCB has paid up and the amount of the ECB’s capital that each NCB shall pay up with effect from 1 January 2024, pursuant to Article 1 of Decision (EU) 2023/2819 (ECB/2023/32) for the euro area NCBs and Article 1 of Decision (EU) 2023/2816 (ECB/2023/36) for the non-euro area NCBs, respectively, on the first operating day of the Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET) following 1 January 2024 each NCB shall either transfer or receive the net amount shown next to its name in the fourth column of the table in Annex II to this Decision, whereby ‘+’ shall refer to an amount that the NCB shall transfer to the ECB and ‘-’ to an amount that the ECB shall transfer to that NCB.
2. On the first TARGET operating day following 1 January 2024, the ECB and the NCBs that are under an obligation to transfer an amount under paragraph 1 shall each separately transfer any interest on the respective amounts due accruing over the period from 1 January 2024 until the date of the transfer. The transferors and recipients of this interest shall be the same as the transferors and recipients of the amounts on which the interest accrues.
General provisions
1. The transfers described in Article 2 shall take place through TARGET.
2. Where an NCB does not have access to TARGET, the amounts described in Article 2 shall be transferred by crediting an account that the ECB or NCB shall nominate in due time.
3. Any interest accruing under Article 2(2) shall be calculated on a daily basis, using the actual-over-360-day method of calculation, at a rate equal to the latest available marginal interest rate used by the Eurosystem in its tenders for main refinancing operations.
4. The ECB and the NCBs that are under an obligation to make a transfer under Article 2 shall, in due course, give the necessary instructions for duly executing such transfer on time.
Entry into force and repeal
1. This Decision shall enter into force on 1 January 2024.
2. Decision (EU) 2020/139 (ECB/2020/5) is repealed with effect from 1 January 2024.
3. References to Decision (EU) 2020/139 (ECB/2020/5) shall be construed as references to this Decision.
Supplementary provisions
NCBs’ SUBSCRIBED CAPITAL
ANNEX ISupplementary provisions
ANNEX I
NCBs’ SUBSCRIBED CAPITAL
Share subscribed on 31 December 2023
(EUR)
Share subscribed from 1 January 2024
(EUR)
Share to be transferred
(EUR)
Euro area NCB
Nationale Bank van België/ Banque Nationale de Belgique
320 744 959,47
324 804 337,12
+4 059 377,65
Deutsche Bundesbank
2 320 816 565,68
2 357 134 464,40
+36 317 898,72
Eesti Pank
24 800 091,20
26 380 542,23
+1 580 451,03
Central Bank of Ireland
149 081 997,36
192 804 200,92
+43 722 203,56
Bank of Greece
217 766 667,22
199 981 180,60
–17 785 486,62
Banco de España
1 049 820 010,62
1 046 669 933,56
–3 150 077,06
Banque de France
1 798 120 274,32
1 770 700 531,41
–27 419 742,91
Hrvatska narodna banka
71 390 921,62
68 511 469,74
–2 879 451,88
Banca d’Italia
1 495 637 101,77
1 418 000 151,07
–77 636 950,70
Central Bank of Cyprus
18 943 762,37
19 506 662,74
+ 562 900,37
Latvijas Banka
34 304 447,40
34 304 447,40
0,00
Lietuvos bankas
50 953 308,28
52 241 484,12
+1 288 175,84
Banque centrale du Luxembourg
29 000 193,94
32 215 221,04
+3 215 027,10
Central Bank of Malta
9 233 731,03
11 398 732,44
+2 165 001,41
De Nederlandsche Bank
515 941 486,95
522 912 791,50
+6 971 304,55
Oesterreichische Nationalbank
257 678 468,28
261 694 545,91
+4 016 077,63
Banco de Portugal
206 054 009,57
205 826 684,42
– 227 325,15
Banka Slovenije
42 390 727,68
43 743 853,57
+1 353 125,89
Národná banka Slovenska
100 824 115,85
101 787 541,48
+ 963 425,63
Suomen Pankki
161 714 780,61
160 783 830,00
– 930 950,61
Non-euro area NCB
Българска народна банка (Bulgarian National Bank)
106 431 469,51
105 901 044,16
– 530 425,35
Česká národní banka
203 445 182,87
212 419 113,73
+8 973 930,86
Danmarks Nationalbank
190 422 699,36
192 652 650,82
+2 229 951,46
Magyar Nemzeti Bank
167 657 709,49
171 240 786,83
+3 583 077,34
Narodowy Bank Polski
653 126 801,54
659 979 031,02
+6 852 229,48
Banca Naţională a României
306 228 624,99
312 712 804,23
+6 484 179,24
Sveriges Riksbank
322 476 960,60
318 699 033,14
–3 777 927,46
Total
( 1 )
10 825 007 069,61
10 825 007 069,61
0,00
( 1 ) Due to rounding, totals may not correspond to the sum of all figures shown.
NCBs’ PAID-UP CAPITAL
ANNEX IISupplementary provisions
ANNEX II
NCBs’ PAID-UP CAPITAL
Share paid up on 31 December 2023
(EUR)
Share paid up from 1 January 2024
(EUR)
Amount of transfer payment
(EUR)
Euro area NCB
Nationale Bank van België/ Banque Nationale de Belgique
320 744 959,47
324 804 337,12
+4 059 377,65
Deutsche Bundesbank
2 320 816 565,68
2 357 134 464,40
+36 317 898,72
Eesti Pank
24 800 091,20
26 380 542,23
+1 580 451,03
Central Bank of Ireland
149 081 997,36
192 804 200,92
+43 722 203,56
Bank of Greece
217 766 667,22
199 981 180,60
–17 785 486,62
Banco de España
1 049 820 010,62
1 046 669 933,56
–3 150 077,06
Banque de France
1 798 120 274,32
1 770 700 531,41
–27 419 742,91
Hrvatska narodna banka
71 390 921,62
68 511 469,74
–2 879 451,88
Banca d’Italia
1 495 637 101,77
1 418 000 151,07
–77 636 950,70
Central Bank of Cyprus
18 943 762,37
19 506 662,74
+ 562 900,37
Latvijas Banka
34 304 447,40
34 304 447,40
0,00
Lietuvos bankas
50 953 308,28
52 241 484,12
+1 288 175,84
Banque centrale du Luxembourg
29 000 193,94
32 215 221,04
+3 215 027,10
Central Bank of Malta
9 233 731,03
11 398 732,44
+2 165 001,41
De Nederlandsche Bank
515 941 486,95
522 912 791,50
+6 971 304,55
Oesterreichische Nationalbank
257 678 468,28
261 694 545,91
+4 016 077,63
Banco de Portugal
206 054 009,57
205 826 684,42
– 227 325,15
Banka Slovenije
42 390 727,68
43 743 853,57
+1 353 125,89
Národná banka Slovenska
100 824 115,85
101 787 541,48
+ 963 425,63
Suomen Pankki
161 714 780,61
160 783 830,00
– 930 950,61
Non-euro area NCB
Българска народна банка (Bulgarian National Bank)
3 991 180,11
3 971 289,16
–19 890,95
Česká národní banka
7 629 194,36
7 965 716,76
+ 336 522,40
Danmarks Nationalbank
7 140 851,23
7 224 474,41
+83 623,18
Magyar Nemzeti Bank
6 287 164,11
6 421 529,51
+ 134 365,40
Narodowy Bank Polski
24 492 255,06
24 749 213,66
+ 256 958,60
Banca Naţională a României
11 483 573,44
11 726 730,16
+ 243 156,72
Sveriges Riksbank
12 092 886,02
11 951 213,74
– 141 672,28
Total
( 1 )
8 948 334 725,55
8 925 412 773,07
–22 921 952,48
( 1 ) Due to rounding, totals may not correspond to the sum of all figures shown.
Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.
