Article 1
In Article 16(5) of Protocol No 5 on the Statute of the European Investment Bank, annexed to the Treaty on the Functioning of the European Union, the first subparagraph is replaced by the following:
‘The aggregate amount outstanding at any time of loans and guarantees granted by the Bank shall not exceed a maximum ratio in respect of its subscribed capital, reserves, non-allocated provisions and profit and loss account surplus to be established by the Board of Governors acting unanimously. The latter aggregate amount shall be reduced by an amount equal to the amount subscribed (whether or not paid in) for any equity participation of the Bank.’.