Definitions
Article 1
For the purposes of this Decision: (a) ‘NCB’ means a national central bank of a Member State whose currency is the euro; (b) ‘credit institution’ means either: (a) a credit institution within the meaning of Article 4(1) of Regulation (EU) No 575/2013 of the European Parliament and of the Council ( 11 ) that is subject to supervision by a competent authority; or (b) another credit institution within the meaning of Article 123(2) of the Treaty that is subject to scrutiny of a standard comparable to supervision by a competent authority; (c) ‘liability base’ means the amount of qualifying liabilities, within the balance sheet of each NCB, specified in accordance with Annex I to this Decision; (d) ‘cash changeover date’ means the date on which euro banknotes and coins become legal tender in a Member State whose currency is the euro; (e) ‘cash changeover year’ means a period of 12 months starting on the cash changeover date; (f) ‘intra-Eurosystem balances on euro banknotes in circulation’ means the claims and liabilities arising between an NCB and the ECB and between an NCB and the other NCBs as a result of the application of Article 4 of Decision ECB/2010/29; (g) ‘subscribed capital key’ means the NCBs' shares, expressed as percentages, in the ECB's subscribed capital that result from applying to the NCBs the weightings in the key referred to in Article 29.1 of the Statute of the ESCB and as applicable for the relevant financial year; (h) ‘withdrawn euro banknotes’ means any euro banknote type or series that has been withdrawn from circulation by a decision of the Governing Council taken pursuant to Article 5 of Decision ECB/2003/4; (i) ‘issue phase’, in relation to a euro banknote type or series, means the period starting on the date on which the first issue of a euro banknote of this type or series is recorded in the liability base and ending on the date on which the last issue of a euro banknote of this type or series is recorded in the liability base; (j) ‘reference rate’ means the latest available marginal interest rate used by the Eurosystem in its tenders for main refinancing operations under Article 6 of Guideline (EU) 2015/510 of the European Central Bank (ECB/2014/60) ( 12 ) . Where more than one main refinancing operation is conducted for settlement on the same day, a simple average of the marginal rates of the operations conducted in parallel is used; (k) ‘earmarkable assets’ means the amount of assets held against the liability base, within the balance sheet of each NCB, specified in accordance with Annex II to this Decision; (l) ‘reference period’ means a period of 24 months starting 30 months before the cash changeover date; (m) ‘daily foreign exchange reference rate’ means the daily foreign exchange reference rate that is based on the regular daily concertation procedure between central banks within and outside the European System of Central Banks, which normally takes place at 14.15 Central European Time ( 13 ) ; (n) ‘write off’ means to eliminate withdrawn euro banknotes from the balance sheet item ‘banknotes in circulation’; (o) ‘issue key’ means the average subscribed capital key during the issue phase of a type or series of withdrawn euro banknotes; (p) ‘harmonised balance sheet’ (HBS) means the harmonised balance sheet as set out in Annex VIII to Guideline (EU) 2016/2249 of the European Central Bank (ECB/2016/34) ( 14 ) .