Contributions to the ECB’s reserves and provisions
Article 5
1. With effect from 1 January 2011 and in accordance with Article 3(5) and (6), Eesti Pank shall contribute to the ECB’s reserves, to those provisions equivalent to reserves, and to the amount still to be appropriated to the reserves and provisions corresponding to the balance of the profit and loss account at 31 December 2010. 2. The amounts to be contributed by Eesti Pank shall be determined in accordance with Article 48.2 of the Statute of the ESCB. The references in Article 48.2 to ‘the number of shares subscribed by the central bank concerned’ and ‘the number of shares already paid up by the other central banks’ shall refer to the weighting of Eesti Pank, and the NCBs of the other Member States whose currency is the euro in the ECB’s capital key, pursuant to Decision ECB/2008/23. 3. For the purposes of paragraph 1, ‘the ECB’s reserves’ and ‘provisions equivalent to reserves’ shall include the ECB’s general reserve fund, balances on revaluation accounts and provisions for foreign exchange rate, interest rate, credit, market price and gold price risks. 4. At the latest on the first working day following the Governing Council’s approval of the ECB’s annual accounts for the year 2010, the ECB shall calculate and confirm to Eesti Pank the amount to be contributed by Eesti Pank under paragraph 1. 5. On the second working day following the Governing Council’s approval of the ECB’s annual accounts for the year 2010, Eesti Pank shall, via TARGET2, pay to the ECB: (a) the amount due to the ECB under paragraph 4; and (b) the interest accrued from 1 January 2011 until the payment date on the amount due to the ECB under paragraph 4. 6. Any interest accruing under paragraph 5(b) shall be calculated on a daily basis, using the actual over-360-day method of calculation, at a rate equal to the marginal interest rate used by the Eurosystem in its most recent main refinancing operation.