1.2.2020

Official Journal of the European Union

LI 27/1

DECISION (EU) 2020/136 OF THE EUROPEAN CENTRAL BANK

of 22 January 2020

on the paying-up of the European Central Bank’s capital by the non-euro area national central banks and repealing Decision (EU) 2019/48 (ECB/2020/2)

THE GENERAL COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 47 thereof,

Whereas:

(1)

Article 47 of the Statute of the European System of Central Banks and of the European Central Bank (hereinafter the ‘Statute of the ESCB’) provides that national central banks of Member States with a derogation (hereinafter ‘non-euro area NCBs’) do not need to pay up their subscribed capital unless the General Council of the European Central Bank (ECB), acting by a majority representing at least two thirds of the subscribed capital of the ECB and at least half of the shareholders, decides that a minimal percentage has to be paid up as a contribution to the ECB’s operational costs.

(2)	Article 1 of Decision (EU) 2019/48 of the European Central Bank (ECB/2018/32) (1) provides that each non-euro area NCB shall pay up 3,75 % of its share in the ECB’s subscribed capital with effect from 1 January 2019.

(3)

On 29 March 2017, the United Kingdom of Great Britain and Northern Ireland (the ‘United Kingdom’) submitted the notification of its intention to withdraw from the European Union pursuant to Article 50 of the Treaty on European Union. The Treaty on European Union and the Treaty on the Functioning of the European Union will cease to apply to the United Kingdom from the date following the date referred to in Article 1(1) of Decision (EU) 2019/1810 of the European Council (2). Upon the withdrawal of the United Kingdom from the European Union, the Bank of England (BoE) ceases to be a national central bank of a Member State and therefore of the European System of Central Banks. Decision (EU) 2020/137 of the European Central Bank (ECB/2020/3) (3) provides for the adjustment of the key for subscription to the ECB’s capital (hereinafter the ‘capital key’) in accordance with Article 29.3 and Article 29.4 of the Statute of the ESCB and establishes with effect from 1 February 2020 the new weightings assigned to the national central banks in the adjusted capital key (hereinafter the ‘capital key weightings’).

(4)

The adjustment of the ECB’s capital key triggered by the BoE ceasing to be a national central bank of a Member State requires the adoption of a new ECB decision, which, from the date of its application, repeals Decision (EU) 2019/48 (ECB/2018/32) and determines the percentage of the ECB’s subscribed capital which the non-euro area NCBs are under an obligation to pay up with effect from 1 February 2020,

HAS ADOPTED THIS DECISION:

Article 1

Extent and form of subscribed and paid-up capital

Each non-euro area NCB shall pay up 3,75 % of its share in the ECB’s subscribed capital with effect from 1 February 2020. Taking into account the new capital key weightings laid down in Article 2 of Decision (EU) 2020/137 (ECB/2020/3), each non-euro area NCB shall have a total subscribed and paid-up capital of the amounts shown next to its name in the following table:

(in EUR)
Non-euro area NCB	Subscribed capital as at 1 February 2020	Paid-up capital as at 1 February 2020
Българска народна банка (Bulgarian National Bank)	106 431 469,51	3 991 180,11
Česká národní banka	203 445 182,87	7 629 194,36
Danmarks Nationalbank	190 422 699,36	7 140 851,23
Hrvatska narodna banka	71 390 921,62	2 677 159,56
Magyar Nemzeti Bank	167 657 709,49	6 287 164,11
Narodowy Bank Polski	653 126 801,54	24 492 255,06
Banca Naţională a României	306 228 624,99	11 483 573,44
Sveriges Riksbank	322 476 960,60	12 092 886,02

Article 2

Adjustment of the paid-up capital

1. Given that each non-euro area NCB has already paid up 3,75 % of its share in the ECB’s subscribed capital as applicable on 31 January 2020 under Decision (EU) 2019/48 (ECB/2018/32), each of them shall transfer an additional amount to the ECB, in order to arrive at the amounts shown in the third column of the table in Article 1.

2. All transfers pursuant to this Article shall be made in accordance with Decision (EU) 2020/139 of the European Central Bank (ECB/2020/5) (4).

Article 3

Entry into force and repeal

1. This Decision shall enter into force on 1 February 2020.

2. Decision (EU) 2019/48 (ECB/2018/32) is repealed with effect from 1 February 2020.

3. References to Decision (EU) 2019/48 (ECB/2018/32) shall be construed as references to this Decision.

Done at Frankfurt am Main, 22 January 2020.

The President of the ECB

Christine LAGARDE

(1) Decision (EU) 2019/48 of the European Central Bank of 30 November 2018 on the paying-up of the European Central Bank’s capital by the non-euro area national central banks and repealing Decision ECB/2013/31 (ECB/2018/32) (OJ L 9, 11.1.2019, p. 196).

(2) European Council Decision (EU) 2019/1810 taken in agreement with the United Kingdom of 29 October 2019 extending the period under Article 50(3)TEU (OJ L 278I, 30.10.2019, p. 1).

(3) Decision (EU) 2020/137 of the European Central Bank of 22 January 2020 on the national central banks’ percentage shares in the key for subscription to the European Central Bank’s capital and repealing Decision (EU) 2019/43 (ECB/2020/3) (see page 4 of this Official Journal).

(4) Decision (EU) 2020/139 of the European Central Bank of 22 January 2020 laying down the terms and conditions for transfers of the European Central Bank’s capital shares between the national central banks and for the adjustment of the paid-up capital and repealing Decision (EU) 2019/45 (ECB/2020/5) (see page 9 of this Official Journal).

1.2.2020

Official Journal of the European Union

LI 27/4

DECISION (EU) 2020/137 OF THE EUROPEAN CENTRAL BANK

of 22 January 2020

on the national central banks’ percentage shares in the key for subscription to the European Central Bank’s capital and repealing Decision (EU) 2019/43 (ECB/2020/3)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank and in particular Article 29.3 and 29.4 thereof,

Having regard to the contribution of the General Council of the European Central Bank in accordance with the fourth indent of Article 46.2 of the Statute of the European System of Central Banks and of the European Central Bank,

Whereas:

(1)

(2)	The last adjustment of the capital key weightings in accordance with Article 29.3 of the Statute of the ESCB was made in 2018 with effect from 1 January 2019 pursuant to Decision (EU) 2019/43 of the European Central Bank (ECB/2018/27) (2), which should accordingly be repealed,

HAS ADOPTED THIS DECISION:

Article 1

Rounding

Where the European Commission provides statistical data to be used in adjusting the capital key and the figures do not total 100 %, the difference shall be compensated for: (i) if the total is below 100 %, by adding 0,0001 of a percentage point to the smallest share(s) in ascending order until exactly 100 % is reached, or (ii) if the total is above 100 %, by subtracting 0,0001 of a percentage point in descending order from the largest share(s) until exactly 100 % is reached.

Article 2

Capital key weightings

The weighting assigned to each national central bank in the capital key described in Article 29 of the Statute of the ESCB shall be as follows with effect from 1 February 2020:

Nationale Bank van België/Banque Nationale de Belgique	2,9630 %
Българска народна банка (Bulgarian National Bank)	0,9832 %
Česká národní banka	1,8794 %
Danmarks Nationalbank	1,7591 %
Deutsche Bundesbank	21,4394 %
Eesti Pank	0,2291 %
Central Bank of Ireland	1,3772 %
Bank of Greece	2,0117 %
Banco de España	9,6981 %
Banque de France	16,6108 %
Hrvatska narodna banka	0,6595 %
Banca d’Italia	13,8165 %
Central Bank of Cyprus	0,1750 %
Latvijas Banka	0,3169 %
Lietuvos bankas	0,4707 %
Banque centrale du Luxembourg	0,2679 %
Magyar Nemzeti Bank	1,5488 %
Central Bank of Malta	0,0853 %
De Nederlandsche Bank	4,7662 %
Oesterreichische Nationalbank	2,3804 %
Narodowy Bank Polski	6,0335 %
Banco de Portugal	1,9035 %
Banca Naţională a României	2,8289 %
Banka Slovenije	0,3916 %
Národná banka Slovenska	0,9314 %
Suomen Pankki	1,4939 %
Sveriges Riksbank	2,9790 %

Article 3

Entry into force and repeal

1. This Decision shall enter into force on 1 February 2020.

2. Decision (EU) 2019/43 (ECB/2018/27) is repealed with effect from 1 February 2020.

3. References to Decision (EU) 2019/43 (ECB/2018/27) shall be construed as references to this Decision.

Done at Frankfurt am Main, 22 January 2020.

The President of the ECB

Christine LAGARDE

(1) European Council Decision (EU) 2019/1810 taken in agreement with the United Kingdom of 29 October 2019 extending the period under Article 50(3)TEU (OJ L 278I, 30.10.2019, p. 1).

(2) Decision (EU) 2019/43 of the European Central Bank of 29 November 2018 on the national central banks’ percentage shares in the key for subscription to the European Central Bank’s capital and repealing Decision ECB/2013/28 (ECB/2018/27) (OJ L 9, 11.1.2019, p. 178).

1.2.2020

Official Journal of the European Union

LI 27/6

DECISION (EU) 2020/138 OF THE EUROPEAN CENTRAL BANK

of 22 January 2020

on the paying-up of the European Central Bank’s capital by the national central banks of Member States whose currency is the euro and repealing Decision (EU) 2019/44 (ECB/2020/4)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 28.3 thereof,

Whereas:

(1)

Decision (EU) 2019/44 of the European Central Bank (ECB/2018/28) (1) determined how and to what extent national central banks (NCBs) of Member States whose currency is the euro (hereinafter ‘euro area NCBs’) were under an obligation to pay up the capital of the European Central Bank (ECB) from 1 January 2019.

(2)

On 29 March 2017, the United Kingdom of Great Britain and Northern Ireland (the ‘United Kingdom’) submitted the notification of its intention to withdraw from the European Union pursuant to Article 50 of the Treaty on European Union. The Treaty on European Union and the Treaty on the Functioning of the European Union will cease to apply to the United Kingdom from the date following the date referred to in Article 1(1) of Decision (EU) 2019/1810 of the European Council (2). Upon the withdrawal of the United Kingdom from the European Union, the Bank of England (BoE) ceases to be a national central bank of a Member State and therefore of the European System of Central Banks. Decision (EU) 2020/137 of the European Central Bank (ECB/2020/3) (3) provides for the adjustment of the key for subscription to the ECB’s capital (hereinafter the ‘capital key’) in accordance with Article 29.3 and Article 29.4 of the Statute of the European System of Central Banks and of the European Central Bank and establishes with effect from 1 February 2020 the new weightings assigned to the NCBs in the adjusted capital key (hereinafter the ‘capital key weightings’).

(3)

The adjustment of the ECB’s capital key triggered by the BoE ceasing to be a national central bank of a Member State requires the adoption of a new ECB decision repealing Decision (EU) 2019/44 (ECB/2018/28) with effect from 1 February 2020, and determining how and to what extent, the euro area NCBs are under an obligation to pay up the ECB’s capital with effect from 1 February 2020,

HAS ADOPTED THIS DECISION:

Article 1

Extent and form of subscribed and paid-up capital

1. Taking into account the capital key weightings set out in Article 2 of Decision (EU) 2020/137(ECB/2020/3), each euro area NCB shall have, with effect from 1 February 2020, a share in the subscribed capital in the amount shown next to its name in the following table:

Euro area NCB	EUR
Nationale Bank van België/Banque Nationale de Belgique	320 744 959,47
Deutsche Bundesbank	2 320 816 565,68
Eesti Pank	24 800 091,20
Central Bank of Ireland	149 081 997,36
Bank of Greece	217 766 667,22
Banco de España	1 049 820 010,62
Banque de France	1 798 120 274,32
Banca d’Italia	1 495 637 101,77
Central Bank of Cyprus	18 943 762,37
Latvijas Banka	34 304 447,40
Lietuvos bankas	50 953 308,28
Banque centrale du Luxembourg	29 000 193,94
Central Bank of Malta	9 233 731,03
De Nederlandsche Bank	515 941 486,95
Oesterreichische Nationalbank	257 678 468,28
Banco de Portugal	206 054 009,57
Banka Slovenije	42 390 727,68
Národná banka Slovenska	100 824 115,85
Suomen Pankki	161 714 780,61

2. Each euro area NCB shall pay up its subscription to the ECB’s capital in full by instalments as set out in Article 2.

Article 2

Adjustment of paid-up capital

1. Given that each euro area NCB has already paid up its full share in the ECB’s subscribed capital as applicable until 31 January 2020 under Decision (EU) 2019/44 (ECB/2018/28), each of them shall transfer an additional amount to the ECB in order to arrive at the amounts shown in the table in Article 1. These transfers shall be made by each euro area NCB in three instalments. The first instalment by the euro area NCBs shall be made on 1 February 2020, amounting to a total of EUR 47 539 371,66. The two remaining instalments, amounting to totals of EUR 610 088 603,17 and EUR 610 088 603,05 respectively, shall be made in 2021 and 2022.

2. All transfers pursuant to this Article shall be made in accordance with Decision (EU) 2020/137 of the European Central Bank (ECB/2020/5) (4).

Article 3

Entry into force and repeal

1. This Decision shall enter into force on 1 February 2020.

2. Decision (EU) 2019/44 (ECB/2018/28) is repealed with effect from 1 February 2020.

3. References to Decision (EU) 2019/44 (ECB/2018/28) shall be construed as references to this Decision.

Done at Frankfurt am Main, 22 January 2020.

The President of the ECB

Christine LAGARDE

(1) Decision (EU) 2019/44 of the European Central Bank of 29 November 2018 on the paying-up of the European Central Bank’s capital by the national central banks of Member States whose currency is the euro, amending Decision ECB/2014/61 and repealing Decision ECB/2013/30 (ECB/2018/28) (OJ L 9, 11.1.2019, p. 180).

(2) European Council Decision (EU) 2019/1810 taken in agreement with the United Kingdom of 29 October 2019 extending the period under Article 50(3)TEU (OJ L 278I, 30.10.2019, p. 1).

1.2.2020

Official Journal of the European Union

LI 27/9

DECISION (EU) 2020/139 OF THE EUROPEAN CENTRAL BANK

of 22 January 2020

laying down the terms and conditions for transfers of the European Central Bank’s capital shares between the national central banks and for the adjustment of the paid-up capital and repealing Decision (EU) 2019/45 (ECB/2020/5)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 28.5 thereof,

Whereas:

(1)

On 29 March 2017, the United Kingdom of Great Britain and Northern Ireland (the ‘United Kingdom’) submitted the notification of its intention to withdraw from the European Union pursuant to Article 50 of the Treaty on European Union. The Treaty on European Union and the Treaty on the Functioning of the European Union will cease to apply to the United Kingdom from the date following the date referred to in Article 1(1) of Decision (EU) 2019/1810 of the European Council (1). Upon the withdrawal of the United Kingdom from the European Union, the Bank of England (BoE) ceases to be a national central bank of a Member State and therefore of the European System of Central Banks. Decision (EU) 2020/137 of the European Central Bank (ECB/2020/3) (2) provides for the adjustment of the weightings assigned to the national central banks (NCBs) in the key for subscription to the European Central Bank’s (ECB’s) capital (hereinafter the ‘capital key weightings’ and the ‘capital key’ respectively). This adjustment requires the Governing Council to determine the terms and conditions for transfers of capital shares between the NCBs that are members of the European System of Central Banks on 31 January 2020, in order to ensure that the distribution of these shares corresponds to the adjustments made. Accordingly, the adoption of a new decision is required to repeal Decision (EU) 2019/45 of the European Central Bank (ECB/2018/29) (3) with effect from 1 February 2020.

(2)

Decision (EU) 2020/138 of the European Central Bank (ECB/2020/4) (4) determines how and to what extent the NCBs of the Member States whose currency is the euro (hereinafter ‘euro area NCBs’) are under an obligation to pay up the ECB’s capital in view of the adjusted capital key. Decision (EU) 2020/136 of the European Central Bank (ECB/2020/2) (5) determines the percentage that the NCBs of the Member States whose currency is not the euro (hereinafter ‘non-euro area NCBs’) are under an obligation to pay up with effect from 1 February 2020 in view of the adjusted capital key.

(3)

Given that each euro area NCB has already paid up its full share in the ECB’s subscribed capital as applicable until 31 January 2020 under Decision (EU) 2019/44 of the European Central Bank (ECB/2018/28) (6), under Decision (EU) 2020/138 (ECB/2020/4) each euro area NCB should transfer additional amounts to the ECB in order to arrive by 2022 at the amounts shown in the table in Article 1 of that Decision.

(4)

Likewise, given that the non-euro area NCBs have already paid up a percentage of their shares in the ECB’s subscribed capital as applicable until 31 January 2020 under Decision (EU) 2019/48 of the European Central Bank (ECB/2018/32) (7), under Decision (EU) 2020/136 (ECB/2020/2) each remaining non-euro area NCB should transfer an additional amount to the ECB in order to arrive at the amounts shown in the third column of the table in Article 1 of that Decision,

HAS ADOPTED THIS DECISION:

Article 1

Transfer of capital shares

Given the share in the ECB’s capital that each NCB will have subscribed to on 31 January 2020, and the share in the ECB’s capital that each NCB shall subscribe to with effect from 1 February 2020 as a consequence of adjusting the capital key weightings as laid down in Article 2 of Decision (EU) 2020/137 (ECB/2020/3), the NCBs shall transfer capital shares among themselves via transfers to and from the ECB to ensure that the distribution of capital shares with effect from 1 February 2020 corresponds to the adjusted weightings. To this effect, each NCB shall, by virtue of this Article and without the need for any further formality or act, be deemed to have either transferred or received with effect from 1 February 2020 the share in the ECB’s subscribed capital shown next to its name in the fourth column of the table in Annex I to this Decision, whereby ‘+’ shall refer to a capital share that the ECB shall transfer to the NCB and ‘-’ to a capital share that the NCB shall transfer to the ECB.

Article 2

Adjustment of the paid-up capital

1. Given the amount of the ECB’s capital that each euro area NCB has paid up as of 1 January 2019, and the amount of the ECB’s capital that each euro area NCB shall pay up pursuant to Article 1 and Article 2(1) of Decision (EU) 2020/138 (ECB/2020/4), on the first operating day of the Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET2) following 1 February 2020 each euro area NCB shall, with respect to the first capital instalment, transfer or receive the net amount shown next to its name in the fourth column of the table in Annex II to this Decision, whereby ‘+’ shall refer to an amount that the NCB shall transfer to the ECB and ‘-’ to an amount that the ECB shall transfer to that NCB. Each euro area NCB shall make two further instalments two business days before the last operating day of TARGET2 of 2021 and 2022 respectively by transferring the net amount shown next to its name in the sixth and eighth columns, respectively, of the table in Annex II to this Decision.

2. Given the amount of the ECB’s capital that each non-euro area NCB has paid up as of 1 January 2019 and the amount of the ECB’s capital that each non-euro area NCB shall pay up with effect from 1 February 2020 pursuant to Article 1 of Decision (EU) 2020/136 (ECB/2020/2), on the first operating day of TARGET2 following 1 February 2020 each NCB shall transfer the net amount shown next to its name in the fourth column of the table in Annex II to this Decision.

3. On the first operating day of TARGET2 following 1 February 2020, the ECB and the euro area NCBs that are under an obligation to transfer, as a first instalment, an amount under paragraph 1, and the non-euro area NCBs that are under an obligation to transfer an amount under paragraph 2, shall each separately transfer any interest on the respective amounts due accruing over the period from 1 February 2020 until the date of the transfer. The transferors and recipients of this interest shall be the same as the transferors and recipients of the amounts on which the interest accrues.

Article 3

General provisions

1. The transfers described in Article 2 shall take place through TARGET2.

2. Where an NCB does not have access to TARGET2, the amounts described in Article 2 shall be transferred by crediting an account that the ECB or NCB shall nominate in due time.

3. Any interest accruing under Article 2(3) shall be calculated on a daily basis, using the actual-over-360-day method of calculation, at a rate equal to the latest available marginal interest rate used by the Eurosystem in its tenders for main refinancing operations.

4. The ECB and the NCBs that are under an obligation to make a transfer under Article 2 shall, in due course, give the necessary instructions for duly executing such transfer on time.

Article 4

Entry into force and repeal

1. This Decision shall enter into force on 1 February 2020.

2. Decision (EU) 2019/45 (ECB/2018/29) is repealed with effect from 1 February 2020.

3. References to Decision (EU) 2019/45 (ECB/2018/29) shall be construed as references to this Decision.

Done at Frankfurt am Main, 22 January 2020.

The President of the ECB

Christine LAGARDE

(1) European Council Decision (EU) 2019/1810 taken in agreement with the United Kingdom of 29 October 2019 extending the period under Article 50(3)TEU (OJ L 278 I, 30.10.2019, p. 1).

(2) Decision (EU) 2020/137 of the European Central Bank of 22 January 2020 on the national central banks’ percentage shares in the key for subscription to the European Central Bank’s capital and repealing Decision (EU) 2019/43 (ECB/2020/3) (see page 4 of this Official Journal).

(3) Decision (EU) 2019/45 of the European Central Bank of 29 November 2018 laying down the terms and conditions for transfers of the European Central Bank’s capital shares between the national central banks and for the adjustment of the paid-up capital and repealing Decision ECB/2013/29 (ECB/2018/29) (OJ L 9, 11.1.2019, p. 183).

(4) Decision (EU) 2020/138 of the European Central Bank of 22 January 2020 on the paying-up of the European Central Bank’s capital by the national central banks of Member States whose currency is the euro and repealing Decision (EU) 2019/44 (ECB/2020/4) (see page 6 of this Official Journal).

(5) Decision (EU) 2020/136 of the European Central Bank of 22 January 2020 on the paying-up of the European Central Bank’s capital by the non-euro area national central banks and repealing Decision (EU) 2019/48 (ECB/2020/2) (see page 1 of this Official Journal).

(6) Decision (EU) 2019/44 of the European Central Bank of 29 November 2018 on the paying-up of the European Central Bank’s capital by the national central banks of Member States whose currency is the euro, amending Decision ECB/2014/61 and repealing Decision ECB/2013/30 (ECB/2018/28) (OJ L 9, 11.1.2019, p. 180).

(7) Decision (EU) 2019/48 of the European Central Bank of 30 November 2018 on the paying-up of the European Central Bank’s capital by the non-euro area national central banks and repealing Decision ECB/2013/31 (ECB/2018/32) (OJ L 9, 11.1.2019, p. 196).

ANNEX I

NCBs’ SUBSCRIBED CAPITAL

(EUR)
	Share subscribed on 31 January 2020	Share subscribed from 1 February 2020	Share to be transferred
Euro area NCBs
Nationale Bank van België/Banque Nationale de Belgique	273 656 178,72	320 744 959,47	+47 088 780,75
Deutsche Bundesbank	1 988 229 048,48	2 320 816 565,68	+332 587 517,20
Eesti Pank	21 303 613,91	24 800 091,20	+3 496 477,29
Central Bank of Ireland	127 237 133,10	149 081 997,36	+21 844 864,26
Bank of Greece	187 186 022,25	217 766 667,22	+30 580 644,97
Banco de España	902 708 164,54	1 049 820 010,62	+147 111 846,08
Banque de France	1 537 811 329,32	1 798 120 274,32	+260 308 945,00
Banca d’Italia	1 277 599 809,38	1 495 637 101,77	+218 037 292,39
Central Bank of Cyprus	16 269 985,63	18 943 762,37	+2 673 776,74
Latvijas Banka	29 563 094,31	34 304 447,40	+4 741 353,09
Lietuvos bankas	43 938 703,70	50 953 308,28	+7 014 604,58
Banque centrale du Luxembourg	24 572 766,05	29 000 193,94	+4 427 427,89
Central Bank of Malta	7 923 905,17	9 233 731,03	+1 309 825,86
De Nederlandsche Bank	440 328 812,57	515 941 486,95	+75 612 674,38
Oesterreichische Nationalbank	220 018 268,69	257 678 468,28	+37 660 199,59
Banco de Portugal	177 172 890,71	206 054 009,57	+28 881 118,86
Banka Slovenije	36 382 848,76	42 390 727,68	+6 007 878,92
Národná banka Slovenska	86 643 356,59	100 824 115,85	+14 180 759,26
Suomen Pankki	137 564 189,84	161 714 780,61	+24 150 590,77
Non-euro area NCBs
Българска народна банка (Bulgarian National Bank)	92 131 635,17	106 431 469,51	+14 299 834,34
Česká národní banka	175 062 014,33	203 445 182,87	+28 383 168,54
Danmarks Nationalbank	162 223 555,95	190 422 699,36	+28 199 143,41
Hrvatska narodna banka	61 410 265,11	71 390 921,62	+9 980 656,51
Magyar Nemzeti Bank	144 492 194,37	167 657 709,49	+23 165 515,12
Narodowy Bank Polski	563 636 468,10	653 126 801,54	+89 490 333,44
Banca Naţională a României	264 887 922,99	306 228 624,99	+41 340 702,00
Sveriges Riksbank	273 028 328,31	322 476 960,60	+49 448 632,29
Bank of England	1 552 024 563,60	0,00	–1 552 024 563,60
Total (1)	10 825 007 069,61	10 825 007 069,61	0,00

(1) Due to rounding, totals may not correspond to the sum of all figures shown.

ANNEX II

NCBs’ PAID-UP CAPITAL

(EUR)
	Share paid up on 31 January 2020	Share paid up from 1 February 2020	Amount of transfer payment 1 February 2020	Share paid up from 29 December 2021	Amount of transfer payment 29 December 2021	Share paid up from 28 December 2022	Amount of transfer payment 28 December 2022
Euro area NCBs
Nationale Bank van België/Banque Nationale de Belgique	273 656 178,72	276 290 916,71	+2 634 737,99	298 517 938,09	+22 227 021,38	320 744 959,47	+22 227 021,38
Deutsche Bundesbank	1 988 229 048,48	1 999 160 134,91	+10 931 086,43	2 159 988 350,30	+160 828 215,39	2 320 816 565,68	+160 828 215,38
Eesti Pank	21 303 613,91	21 362 892,01	+59 278,10	23 081 491,61	+1 718 599,60	24 800 091,20	+1 718 599,59
Central Bank of Ireland	127 237 133,10	128 419 794,29	+1 182 661,19	138 750 895,83	+10 331 101,54	149 081 997,36	+10 331 101,53
Bank of Greece	187 186 022,25	187 585 027,73	+399 005,48	202 675 847,48	+15 090 819,75	217 766 667,22	+15 090 819,74
Banco de España	902 708 164,54	904 318 913,05	+1 610 748,51	977 069 461,84	+72 750 548,79	1 049 820 010,62	+72 750 548,78
Banque de France	1 537 811 329,32	1 548 907 579,93	+11 096 250,61	1 673 513 927,13	+124 606 347,20	1 798 120 274,32	+124 606 347,19
Banca d’Italia	1 277 599 809,38	1 288 347 435,28	+10 747 625,90	1 391 992 268,53	+103 644 833,25	1 495 637 101,77	+103 644 833,24
Central Bank of Cyprus	16 269 985,63	16 318 228,29	+48 242,66	17 630 995,33	+1 312 767,04	18 943 762,37	+1 312 767,04
Latvijas Banka	29 563 094,31	29 549 980,26	–13 114,05	31 927 213,83	+2 377 233,57	34 304 447,40	+2 377 233,57
Lietuvos bankas	43 938 703,70	43 891 371,75	–47 331,95	47 422 340,02	+3 530 968,27	50 953 308,28	+3 530 968,26
Banque centrale du Luxembourg	24 572 766,05	24 980 876,34	+408 110,29	26 990 535,14	+2 009 658,80	29 000 193,94	+2 009 658,80
Central Bank of Malta	7 923 905,17	7 953 970,70	+30 065,53	8 593 850,87	+639 880,17	9 233 731,03	+639 880,16
De Nederlandsche Bank	440 328 812,57	444 433 941,02	+4 105 128,45	480 187 713,99	+35 753 772,97	515 941 486,95	+35 753 772,96
Oesterreichische Nationalbank	220 018 268,69	221 965 203,55	+1 946 934,86	239 821 835,92	+17 856 632,37	257 678 468,28	+17 856 632,36
Banco de Portugal	177 172 890,71	177 495 700,29	+322 809,58	191 774 854,93	+14 279 154,64	206 054 009,57	+14 279 154,64
Banka Slovenije	36 382 848,76	36 515 532,56	+132 683,80	39 453 130,12	+2 937 597,56	42 390 727,68	+2 937 597,56
Národná banka Slovenska	86 643 356,59	86 850 273,32	+206 916,73	93 837 194,59	+6 986 921,27	100 824 115,85	+6 986 921,26
Suomen Pankki	137 564 189,84	139 301 721,39	+1 737 531,55	150 508 251,00	+11 206 529,61	161 714 780,61	+11 206 529,61
Non-euro area NCBs
Българска народна банка (Bulgarian National Bank)	3 454 936,32	3 991 180,11	+536 243,79	3 991 180,11	0,00	3 991 180,11	0,00
Česká národní banka	6 564 825,54	7 629 194,36	+1 064 368,82	7 629 194,36	0,00	7 629 194,36	0,00
Danmarks Nationalbank	6 083 383,35	7 140 851,23	+1 057 467,88	7 140 851,23	0,00	7 140 851,23	0,00
Hrvatska narodna banka	2 302 884,94	2 677 159,56	+374 274,62	2 677 159,56	0,00	2 677 159,56	0,00
Magyar Nemzeti Bank	5 418 457,29	6 287 164,11	+868 706,82	6 287 164,11	0,00	6 287 164,11	0,00
Narodowy Bank Polski	21 136 367,55	24 492 255,06	+3 355 887,51	24 492 255,06	0,00	24 492 255,06	0,00
Banca Naţională a României	9 933 297,11	11 483 573,44	+1 550 276,33	11 483 573,44	0,00	11 483 573,44	0,00
Sveriges Riksbank	10 238 562,31	12 092 886,02	+1 854 323,71	12 092 886,02	0,00	12 092 886,02	0,00
Bank of England	58 200 921,14	0,00	–58 200 921,14	0,00	0,00	0,00	0,00
Total ESCB (1)	7 659 443 757,27	7 659 443 757,27	0,00	8 269 532 360,44	+610 088 603,17	8 879 620 963,49	+610 088 603,05

(1) Due to rounding, totals may not correspond to the sum of all figures shown.

1.2.2020

Official Journal of the European Union

LI 27/15

DECISION (EU) 2020/140 OF THE EUROPEAN CENTRAL BANK

of 22 January 2020

laying down the measures necessary for the contribution to the European Central Bank’s accumulated equity value and for adjusting the national central banks’ claims equivalent to the transferred foreign reserve assets and repealing Decision (EU) 2019/46 (ECB/2020/6)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 30 thereof,

Whereas:

(1)

On 29 March 2017, the United Kingdom of Great Britain and Northern Ireland (the ‘United Kingdom’) submitted the notification of its intention to withdraw from the European Union pursuant to Article 50 of the Treaty on European Union. The Treaty on European Union and the Treaty on the Functioning of the European Union will cease to apply to the United Kingdom from the date following the date referred to in Article 1(1) of Decision (EU) 2019/1810 of the European Council (1). Upon the withdrawal of the United Kingdom from the European Union, the Bank of England (BoE) ceases to be a national central bank of a Member State and therefore of the European System of Central Banks. Decision (EU) 2020/137 of the European Central Bank (ECB/2020/3) (2) provides for the adjustment of the key for subscription to the capital of the European Central Bank (ECB) (hereinafter the ‘capital key’) in accordance with Article 29.3 and Article 29.4 of the Statute of the European System of Central Banks and of the European Central Bank (hereinafter the ‘Statute of the ESCB’) and establishes, with effect from 1 February 2020, the new weightings assigned to the national central banks (NCBs) in the adjusted capital key (hereinafter the ‘capital key weightings’).

(2)

The adjustments to the capital key weightings and the resulting changes in the NCBs’ shares in the ECB’s subscribed capital make it necessary to adjust the claims which the ECB has credited under Article 30.3 of the Statute of the ESCB to the NCBs of the Member States whose currency is the euro (hereinafter the ‘euro area NCBs’) and which are equivalent to the contributions by euro area NCBs of foreign reserve assets to the ECB (hereinafter the ‘claims’). Those euro area NCBs whose claims increase from 1 February 2020 should therefore effect a compensatory transfer to the ECB, while the ECB should effect a compensatory transfer to those euro area NCBs whose claims decrease.

(3)

In accordance with the general principles of fairness, equal treatment and the protection of legitimate expectations underlying the Statute of the ESCB, those euro area NCBs whose relative share in the ECB’s accumulated equity value increases due to the abovementioned adjustments should also effect a compensatory transfer to those euro area NCBs whose relative shares decrease.

(4)

The respective capital key weightings of each euro area NCB until 31 January 2020 and with effect from 1 February 2020 should be expressed as a percentage of the ECB’s total capital as subscribed to by all euro area NCBs for the purpose of calculating the adjustment of the value of each euro area NCB’s share in the ECB’s accumulated equity value.

(5)	Accordingly, the adoption of a new ECB decision is required to repeal Decision (EU) 2019/46 of the European Central Bank (ECB/2018/30) (3),

HAS ADOPTED THIS DECISION:

Article 1

Definitions

For the purposes of this Decision:

(a)

‘accumulated equity value’ means the total of the ECB’s reserves, revaluation accounts and provisions equivalent to reserves as calculated by the ECB as at 31 January 2020 plus the ECB’s accumulated net profit or minus the ECB’s accumulated net loss, as the case may be, from 1 January 2020 until 31 January 2020. The ECB’s reserves and those provisions equivalent to reserves shall include, without limitation to the generality of the accumulated equity value, the general reserve fund and the provision for financial risks;

(b)	‘transfer date’ means 28 February 2020;

(c)	the ‘ECB’s income on euro banknotes in circulation’ shall have the same meaning as the term ‘ECB’s income on euro banknotes in circulation’ as set out in Article 1(c) of Decision (EU) 2015/298 of the European Central Bank (ECB/2014/57) (4);

(d)	the ‘ECB’s income from securities’ shall have the same meaning as the term ‘ECB’s income arising from securities’ as set out in Article 1(d) of Decision (EU) 2015/298 (ECB/2014/57).

Article 2

Contribution to the ECB’s reserves and provisions

1. If a euro area NCB’s share in the accumulated equity value increases with effect from 1 February 2020, 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 with effect from 1 February 2020, that euro area NCB shall receive the amount determined pursuant to paragraph 3 from the ECB on the transfer date.

3. The ECB shall, at the latest, one business day prior to the transfer date, 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 January 2020 and its capital key weighting with effect from 1 February 2020 and dividing the result by 100.

4. Each amount described in paragraph 3 shall be due in euro on 1 February 2020 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 February 2020 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.

Article 3

Adjustment of the claims equivalent to the transferred foreign reserve assets

1. The euro area NCBs’ claims shall be adjusted with effect from 1 February 2020 in accordance with their adjusted capital key weightings. The adjusted value of the euro area NCBs’ claims is shown in the third column of the table in Annex I to this Decision.

2. Each euro area NCB shall, by virtue of this provision and without any further formality or act being required, be considered to have either transferred or received on 1 February 2020 the absolute value of the claim in euro shown next to its name in the fourth column of the table in Annex I to this Decision, whereby ‘-’ shall refer to a claim that the euro area NCB shall transfer to the ECB and ‘+’ to a claim that the ECB shall transfer to the euro area NCB.

3. On the first operating day of the Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET2) following 1 February 2020, each euro area NCB shall either transfer or receive the absolute value of the amount in euro shown next to its name in the fourth column of the table in Annex I to this Decision, whereby ‘+’ shall refer to an amount that the euro area NCB shall transfer to the ECB and ‘-’ to an amount that the ECB shall transfer to the euro area NCB.

4. On the first operating day of TARGET2 following 1 February 2020, a euro area NCB or the ECB required to transfer an amount under paragraph 3 shall also separately transfer any interest accruing over the period from 1 February 2020 until the date of that transfer on the respective amount due from such euro area NCB or 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.

Article 4

Related financial issues

1. By way of derogation from the third subparagraph of Article 2(1) of Decision (EU) 2016/2248 of the European Central Bank (ECB/2016/36) (5), the intra-Eurosystem balances on euro banknotes in circulation shall, for the period from 1 February 2020 until 27 February 2020, be calculated on the basis of the capital key applicable from 1 February 2020 applied to balances on the total euro banknotes in circulation on 31 January 2020. For the period from 1 February 2020 until 31 December 2020, the compensatory amounts and the accounting entries to balance those amounts, as described in Article 4(5) of Decision (EU) 2016/2248 (ECB/2016/36), shall be recorded in the books of each national central bank with a value date of 1 February 2020.

2. In relation to the period from 1 January 2020 until 31 January 2020, the euro area NCBs’ monetary income shall be allocated and distributed in accordance with the capital key weightings applicable on 31 January 2020.

3. The ECB’s net profit or loss, as the case may be, for the financial year 2020 shall be allocated on the basis of the capital key weightings applicable on 1 February 2020.

4. Any interim distribution of the ECB’s income on euro banknotes and/or the ECB’s income from securities for the year 2020 shall be allocated on the basis of the capital key weightings applicable on 1 February 2020.

5. In the event that the ECB makes a loss in the financial year 2020, the ECB shall offset the loss against the following:

(a)	funds released from the ECB’s general reserve fund;

(b)	subject to a decision of the Governing Council under Article 33 of the Statute of the ESCB, the NCBs’ monetary income from 1 February 2020 until 31 December 2020;

(c)	subject to a decision of the Governing Council under Article 33 of the Statute of the ESCB, the NCBs’ monetary income from 1 January 2020 until 31 January 2020.

6. If the NCBs’ monetary income from 1 January 2020 until 31 January 2020 needs to be transferred to the ECB to cover its loss for the financial year 2020 compensatory payments in addition to the payments described in Article 2 and Article 3 shall be made. Each euro area NCB whose capital key weighting increases on 1 February 2020 shall make such a payment to the ECB, and the ECB shall make such a payment to each euro area NCB whose capital key weighting decreases on 1 February 2020. The amount of the compensatory payments shall be calculated as follows: the total monetary income for the period from 1 January 2020 until 31 January 2020 transferred to the ECB to cover its loss shall be multiplied by the absolute difference between the relevant euro area NCB’s capital key weighting on 31 January 2020 and its capital key weighting with effect from 1 February 2020 and the result shall be divided by 100. Interest on compensatory payments relating to the NCBs’ monetary income shall accrue from 1 January 2021 until the date these payments are made.

7. The additional compensatory payments relating to the NCBs’ monetary income, as described in paragraph 6, as well as interest accrued thereon, shall be paid on the second business day after the approval by the Governing Council of the ECB’s annual accounts for the financial year 2020.

Article 5

General provisions

1. The interest accruing under Article 2(5), Article 3(4) and Article 4(6) shall be calculated on a daily basis, using the actual-over-360-day method of calculation, at a rate equal to the latest available marginal interest rate used by the Eurosystem in its tenders for main refinancing operations.

2. Each transfer pursuant to Article 2(1), (2) and (5), Article 3(3) and (4) and Article 4(6) and (7) shall take place separately through TARGET2.

3. The ECB and the euro area NCBs that are under an obligation to effect any of the transfers referred to in paragraph 2 shall, in due course, give the necessary instructions for duly executing such transfers on time.

Article 6

Entry into force and repeal

1. This Decision shall enter into force on 1 February 2020.

2. Decision (EU) 2019/46 (ECB/2018/30) is repealed with effect from 1 February 2020.

3. References to Decision (EU) 2019/46 (ECB/2018/30) shall be construed as references to this Decision and shall be read in accordance with the correlation table in Annex II.

Done at Frankfurt am Main, 22 January 2020.

The President of the ECB

Christine LAGARDE

(1) European Council Decision (EU) 2019/1810 taken in agreement with the United Kingdom of 29 October 2019 extending the period under Article 50(3)TEU (OJ L 278I, 30.10.2019, p. 1).

(3) Decision (EU) 2019/46 of the European Central Bank of 29 November 2018 laying down the measures necessary for the contribution to the European Central Bank’s accumulated equity value and for adjusting the national central banks’ claims equivalent to the transferred foreign reserve assets and repealing Decision ECB/2013/26 (ECB/2018/30) (OJ L 9, 11.1.2019, p. 190).

(4) Decision (EU) 2015/298 of the European Central Bank of 15 December 2014 on the interim distribution of the income of the European Central Bank (ECB/2014/57) (OJ L 53, 25.2.2015, p. 24).

(5) Decision (EU) 2016/2248 of the European Central Bank of 3 November 2016 on the allocation of monetary income of the national central banks of Member States whose currency is the euro (ECB/2016/36) (OJ L 347, 20.12.2016, p. 26).

ANNEX I

CLAIMS EQUIVALENT TO THE FOREIGN RESERVE ASSETS TRANSFERRED TO THE ECB

(EUR)
Euro area NCB	Claim equivalent to the foreign reserve assets transferred to the ECB, on 31 January 2020	Claim equivalent to the foreign reserve assets transferred to the ECB, with effect from 1 February 2020	Amount of transfer
Nationale Bank van België/Banque Nationale de Belgique	1 465 002 366,44	1 469 828 529,30	+4 826 162,86
Deutsche Bundesbank	10 643 868 063,45	10 635 248 657,12	–8 619 406,33
Eesti Pank	114 047 652,58	113 647 558,58	–400 094,00
Central Bank of Ireland	681 156 559,14	683 175 109,87	+2 018 550,73
Bank of Greece	1 002 089 435,15	997 925 768,61	–4 163 666,54
Banco de España	4 832 595 424,83	4 810 848 484,64	–21 746 940,19
Banque de France	8 232 583 116,25	8 239 968 860,78	+7 385 744,53
Banca d’Italia	6 839 555 945,19	6 853 825 810,01	+14 269 864,82
Central Bank of Cyprus	87 100 417,59	86 810 662,38	–289 755,21
Latvijas Banka	158 264 298,37	157 201 708,04	–1 062 590,33
Lietuvos bankas	235 223 283,44	233 495 878,75	–1 727 404,69
Banque centrale du Luxembourg	131 548 867,56	132 894 722,58	+1 345 855,02
Central Bank of Malta	42 420 163,46	42 313 997,15	–106 166,31
De Nederlandsche Bank	2 357 274 575,15	2 364 325 594,45	+7 051 019,30
Oesterreichische Nationalbank	1 177 854 948,49	1 180 823 432,72	+2 968 484,23
Banco de Portugal	948 484 720,39	944 251 976,21	–4 232 744,18
Banka Slovenije	194 773 455,44	194 257 459,36	–515 996,08
Národná banka Slovenska	463 840 147,98	462 031 148,22	–1 808 999,76
Suomen Pankki	736 441 854,14	741 065 420,16	+4 623 566,02
Total (1)	40 344 125 295,04	40 343 940 778,93	–184 516,11

(1) Due to rounding, totals may not correspond to the sum of all figures shown.

ANNEX II

CORRELATION TABLE

Decision (EU) 2019/46 (ECB/2018/30)

This Decision

Article 1

Article 2

Article 3

—

Article 4

Article 5

Article 1

Article 2

Article 3

Article 4

Article 5

Article 6

1.2.2020

Official Journal of the European Union

LI 27/21

DECISION (EU) 2020/141 OF THE EUROPEAN CENTRAL BANK

of 22 January 2020

amending Decision ECB/2010/29 on the issue of euro banknotes (ECB/2020/7)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 128(1) thereof,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 16 thereof,

Whereas:

(1)

On 29 March 2017, the United Kingdom of Great Britain and Northern Ireland (the ‘United Kingdom’) submitted the notification of its intention to withdraw from the European Union pursuant to Article 50 of the Treaty on European Union. The Treaty on European Union and the Treaty on the Functioning of the European Union will cease to apply to the United Kingdom from the date following the date referred to in Article 1(1) of Decision (EU) 2019/1810 of the European Council (1). Upon the withdrawal of the United Kingdom from the European Union, the Bank of England (BoE) ceases to be a national central bank of a Member State and therefore of the European System of Central Banks. Decision (EU) 2020/137 of the European Central Bank (ECB/2020/3) (2) provides for the adjustment of the key for subscription to the capital of the European Central Bank (ECB) (hereinafter the ‘capital key’) in accordance with Article 29.3 and Article 29.4 of the Statute of the European System of Central Banks and of the European Central Bank and establishes, with effect from 1 February 2020, new weightings assigned to the national central banks in the adjusted capital key (hereinafter the ‘capital key weightings’).

(2)

Article 1(d) of Decision ECB/2010/29 (3) defines the ‘banknote allocation key’ and refers to Annex I to that Decision, which specifies the banknote allocation key applying since 1 January 2019. Given that new capital key weightings will apply from 1 February 2020, Decision ECB/2010/29 needs to be amended in order to determine the banknote allocation key applying from that date,

HAS ADOPTED THIS DECISION:

Article 1

Amendments

1. The final sentence of Article 1(d) of Decision ECB/2010/29 is replaced by the following:

‘Annex I to this Decision specifies the banknote allocation key that shall apply from 1 February 2020.’

2. Annex I to Decision ECB/2010/29 is replaced by the text set out in the Annex to this Decision.

Article 2

Entry into force

This Decision shall enter into force on 1 February 2020.

Done at Frankfurt am Main, 22 January 2020.

The President of the ECB

Christine LAGARDE

(1) European Council Decision (EU) 2019/1810 taken in agreement with the United Kingdom of 29 October 2019 extending the period under Article 50(3)TEU (OJ L 278 I, 30.10.2019, p. 1).

(3) Decision ECB/2010/29 of 13 December 2010 on the issue of euro banknotes (OJ L 35, 9.2.2011, p. 26).

ANNEX

‘ANNEX I

BANKNOTE ALLOCATION KEY FROM 1 FEBRUARY 2020

%
European Central Bank	8,0000
Nationale Bank van België/Banque Nationale de Belgique	3,3520
Deutsche Bundesbank	24,2525
Eesti Pank	0,2590
Central Bank of Ireland	1,5580
Bank of Greece	2,2755
Banco de España	10,9705
Banque de France	18,7905
Banca d’Italia	15,6295
Central Bank of Cyprus	0,1980
Latvijas Banka	0,3585
Lietuvos bankas	0,5325
Banque centrale du Luxembourg	0,3030
Central Bank of Malta	0,0965
De Nederlandsche Bank	5,3915
Oesterreichische Nationalbank	2,6925
Banco de Portugal	2,1535
Banka Slovenije	0,4430
Národná banka Slovenska	1,0535
Suomen Pankki	1,6900
TOTAL	100,0000

’

		ISSN 1977-0677
Official Journal of the European Union		L 027I

English edition	Legislation	Volume 63 1 February 2020

Contents		II Non-legislative acts	page
		DECISIONS
	*	Decision (EU) 2020/136 of the European Central Bank of 22 January 2020 on the paying-up of the European Central Bank’s capital by the non-euro area national central banks and repealing Decision (EU) 2019/48 (ECB/2020/2)	1
	*	Decision (EU) 2020/137 of the European Central Bank of 22 January 2020 on the national central banks’ percentage shares in the key for subscription to the European Central Bank’s capital and repealing Decision (EU) 2019/43 (ECB/2020/3)	4
	*	Decision (EU) 2020/138 of the European Central Bank of 22 January 2020 on the paying-up of the European Central Bank’s capital by the national central banks of Member States whose currency is the euro and repealing Decision (EU) 2019/44 (ECB/2020/4)	6
	*	Decision (EU) 2020/139 of the European Central Bank of 22 January 2020 laying down the terms and conditions for transfers of the European Central Bank’s capital shares between the national central banks and for the adjustment of the paid-up capital and repealing Decision (EU) 2019/45 (ECB/2020/5)	9
	*	Decision (EU) 2020/140 of the European Central Bank of 22 January 2020 laying down the measures necessary for the contribution to the European Central Bank’s accumulated equity value and for adjusting the national central banks’ claims equivalent to the transferred foreign reserve assets and repealing Decision (EU) 2019/46 (ECB/2020/6)	15
	*	Decision (EU) 2020/141 of the European Central Bank of 22 January 2020 amending Decision ECB/2010/29 on the issue of euro banknotes (ECB/2020/7)	21