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Document 32016R1705
Regulation (EU) 2016/1705 of the European Central Bank of 9 September 2016 amending Regulation (EC) No 1745/2003 (ECB/2003/9) on the application of minimum reserves (ECB/2016/26)
Regulation (EU) 2016/1705 of the European Central Bank of 9 September 2016 amending Regulation (EC) No 1745/2003 (ECB/2003/9) on the application of minimum reserves (ECB/2016/26)
Regulation (EU) 2016/1705 of the European Central Bank of 9 September 2016 amending Regulation (EC) No 1745/2003 (ECB/2003/9) on the application of minimum reserves (ECB/2016/26)
OJ L 257, 23.9.2016, p. 10–11
(BG, ES, CS, DA, DE, ET, EL, EN, FR, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)
No longer in force, Date of end of validity: 25/06/2021; Repealed by 32021R0378
23.9.2016 |
EN |
Official Journal of the European Union |
L 257/10 |
REGULATION (EU) 2016/1705 OF THE EUROPEAN CENTRAL BANK
of 9 September 2016
amending Regulation (EC) No 1745/2003 (ECB/2003/9) on the application of minimum reserves (ECB/2016/26)
THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,
Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 19.1 thereof,
Having regard to Council Regulation (EC) No 2531/98 of 23 November 1998 concerning the application of minimum reserves by the European Central Bank (1),
Whereas:
(1) |
For the exclusion of interbank liabilities from the reserve base, any standard deduction to be applied to liabilities with a maturity of up to two years within the debt securities category should be based on the euro area-wide macro ratio between: (a) the stock of relevant instruments issued by credit institutions and held by other credit institutions and by the ECB and participating national central banks; and (b) the total amount outstanding of such instruments issued by credit institutions. The method for applying the standard deduction set out in Article 3(2) of Regulation (EC) No 1745/2003 of the European Central Bank (ECB/2003/9) (2) should be further clarified. |
(2) |
Therefore, Regulation (EC) No 1745/2003 (ECB/2003/9) should be amended accordingly, |
HAS ADOPTED THIS REGULATION:
Article 1
Amendments
Regulation (EC) No 1745/2003 (ECB/2003/9) is amended as follows:
(1) |
Article 3 is amended as follows:
|
(2) |
Throughout the Regulation, the words ‘for money and banking statistics’ are deleted. |
Article 2
Final provisions
This Regulation shall enter into force on 14 December 2016.
This Regulation shall be binding in its entirety and directly applicable in the Member States in accordance with the Treaties.
Done at Frankfurt am Main, 9 September 2016.
For the Governing Council of the ECB
The President of the ECB
Mario DRAGHI
(1) OJ L 318, 27.11.1998, p. 1.
(2) Regulation (EC) No 1745/2003 of the European Central Bank of 12 September 2003 on the application of minimum reserves (ECB/2003/9) (OJ L 250, 2.10.2003, p. 10).