PRESS RELEASE

Key for subscriptions to the ECB’s capital – enlargement of the EU and the Eurosystem

2 January 2007

Pursuant to Article 29 of the Statute of the European System of Central Banks and of the European Central Bank, the shares of the national central banks (NCBs) in the ECB’s capital key are weighted according to the shares of the respective Member States in the total population and the gross domestic product of the EU, in equal measure, as notified to the ECB by the European Commission. These weights are adjusted every five years and whenever new Member States join the EU, so that they were last changed on 1 May 2004 when ten new Member States joined the EU.

On 1 January 2007 the ECB’s capital key was changed on account of the Bulgarian National Bank and Banca Naţională a României joining the European System of Central Banks (ESCB). The new shares of the NCBs in the capital key are set out below.

In accordance with Article 49.3 of the Statute, the ECB’s subscribed capital is automatically increased when a new Member State joins the EU and its NCB joins the ESCB. The increase is determined by multiplying the prevailing amount of subscribed capital (i.e. EUR 5,565,000,000) by the ratio, within the extended capital key, between the weights of the acceding NCB(s) and those of the NCBs that are already members of the ESCB. Therefore, on 1 January 2007 the subscribed capital of the ECB was increased to EUR 5,760,652,402.58.

Furthermore, on 1 January 2007 Slovenia adopted the euro and Banka Slovenije joined the Eurosystem. In accordance with Article 49 of the Statute, Banka Slovenije has paid up the remainder of its contribution to the capital of the ECB as at 1 January 2007. Eurosystem NCBs are required to pay up their subscribed capital in full. The 14 non-euro area NCBs (the previous group of 12 non-euro area NCBs plus the Bulgarian National Bank and Banca Naţională a României) are required to pay up a minimal percentage of their subscribed capital (7% as at 1 January 2007) as a contribution to the operational costs of the ECB.

The relevant ECB Decisions are available on the ECB’s website and will be published in the Official Journal of the European Union in due course.

Key for subscription to the ECB’s capital (%) Subscribed share of capital (EUR) Paid-up capital (EUR)
from 1 May 2004 from 1 January 2007 from 1 January 2007 from 1 January 2007
Nationale Bank van België/
Banque Nationale de Belgique
2.5502 2.4708 142,334,199.56 142,334,199.56
Deutsche Bundesbank 21.1364 20.5211 1,182,149,240.19 1,182,149,240.19
Central Bank & Financial Services Authority of Ireland 0.9219 0.8885 51,183,396.60 51,183,396.60
Bank of Greece 1.8974 1.8168 104,659,532.85 104,659,532.85
Banco de España 7.7758 7.5498 434,917,735.09 434,917,735.09
Banque de France 14.8712 14.3875 828,813,864.42 828,813,864.42
Banca d’Italia 13.0516 12.5297 721,792,464.09 721,792,464.09
Banque centrale du Luxembourg 0.1568 0.1575 9,073,027.53 9,073,027.53
De Nederlandsche Bank 3.9955 3.8937 224,302,522.60 224,302,522.60
Oesterreichische Nationalbank 2.08 2.0159 116,128,991.78 116,128,991.78
Banco de Portugal 1.7653 1.7137 98,720,300.22 98,720,300.22
Banka Slovenije - 0.3194 18,399,523.77 18,399,523.77
Suomen Pankki – Finlands Bank 1.2887 1.2448 71,708,601.11 71,708,601.11
Subtotal for the group of euro area NCBs 71.4908 69.5092 4,004,183,399.81 4,004,183,399.81
Česká národní banka 1.4584 1.3880 79,957,855.35 5,597,049.87
Danmarks Nationalbank 1.5663 1.5138 87,204,756.07 6,104,332.92
Eesti Pank 0.1784 0.1703 9,810,391.04 686,727.37
Central Bank of Cyprus 0.13 0.1249 7,195,054.85 503,653.84
Latvijas Banka 0.2978 0.2813 16,204,715.21 1,134,330.06
Lietuvos bankas 0.4425 0.4178 24,068,005.74 1,684,760.40
Magyar Nemzeti Bank 1.3884 1.3141 75,700,733.22 5,299,051.33
Central Bank of Malta 0.0647 0.0622 3,583,125.79 250,818.81
Narodowy Bank Polski 5.138 4.8748 280,820,283.32 19,657,419.83
Banka Slovenije 0.3345 - - -
Národná banka Slovenska 0.7147 0.6765 38,970,813.50 2,727,956.95
Sveriges Riksbank 2.4133 2.3313 134,298,089.46 9,400,866.26
Bank of England 14.3822 13.9337 802,672,023.82 56,187,041.67
Subtotal for the previous group of non-euro area NCBs 28.5092 27.0887 1,560,485,847.38 109,234,009.31
Bulgarian National Bank - 0.8833 50,883,842.67 3,561,868.99
Banca Naţională a României - 2.5188 145,099,312.72 10,156,951.89
Subtotal for the new non-euro area NCBs 0 3.4021 195,983,155.39 13,718,820.88
Total 100.0000 100.0000 5,760,652,402.58 4,127,136,230.00

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