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Document 12016E321

Consolidated version of the Treaty on the Functioning of the European Union
PART SIX - INSTITUTIONAL AND FINANCIAL PROVISIONS
TITLE II - FINANCIAL PROVISIONS
CHAPTER 5 - COMMON PROVISIONS
Article 321 (ex Article 278 TEC)

OJ C 202, 7.6.2016, p. 187–187 (BG, ES, CS, DA, DE, ET, EL, EN, FR, GA, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)

In force

ELI: http://data.europa.eu/eli/treaty/tfeu_2016/art_321/oj

7.6.2016   

EN

Official Journal of the European Union

C 202/187


Article 321

(ex Article 278 TEC)

The Commission may, provided it notifies the competent authorities of the Member States concerned, transfer into the currency of one of the Member States its holdings in the currency of another Member State, to the extent necessary to enable them to be used for purposes which come within the scope of the Treaties. The Commission shall as far as possible avoid making such transfers if it possesses cash or liquid assets in the currencies which it needs.

The Commission shall deal with each Member State through the authority designated by the State concerned. In carrying out financial operations the Commission shall employ the services of the bank of issue of the Member State concerned or of any other financial institution approved by that State.


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