Contribution to the ECB’s reserves and provisions
Article 2
1. If a euro area NCB’s share in the accumulated equity value increases due to an increase in its capital key weighting with effect from 1 January 2024, that euro area NCB shall transfer the amount determined pursuant to paragraph 3 to the ECB on the transfer date. 2. If a euro area NCB’s share in the accumulated equity value decreases due to a decrease in its capital key weighting with effect from 1 January 2024, that euro area NCB shall receive the amount determined pursuant to paragraph 3 from the ECB on the transfer date. 3. The ECB shall, on or before the day the Governing Council approves the ECB’s financial accounts for the financial year 2023, calculate and confirm to each euro area NCB either the amount to be transferred by that euro area NCB to the ECB where paragraph 1 applies, or the amount which that euro area NCB shall receive from the ECB where paragraph 2 applies. Subject to rounding, each amount to be transferred or received shall be calculated by multiplying the accumulated equity value by the absolute difference between each euro area NCB’s capital key weighting on 31 December 2023 and its capital key weighting with effect from 1 January 2024 and dividing the result by 100. 4. Each amount described in paragraph 3 shall be due in euro on 1 January 2024 but shall be effectively transferred on the transfer date. 5. On the transfer date, a euro area NCB or the ECB having to transfer an amount under paragraph 1 or paragraph 2 shall also separately transfer any interest accruing over the period from 1 January 2024 until the transfer date on each of the respective amounts due from such euro area NCB and the ECB. The transferors and recipients of this interest shall be the same as the transferors and recipients of the amounts on which the interest accrues. 6. If the accumulated equity value is less than zero, the amounts that have to be transferred or received under paragraph 3 and paragraph 5 shall be settled in the opposite directions to those specified in paragraph 3 and paragraph 5.