PRESS RELEASE

Adjustments to the ECB’s capital subscription key due to EU enlargement

1 July 2013

The European Central Bank today announces adjustments to its capital key and the contributions paid by the EU Member States’ national central banks (NCBs).

In line with Article 29 of the Protocol on the Statute of the European System of Central Banks and of the European Central Bank, the NCBs’ shares in the ECB’s capital key are weighted according to the respective Member States’ shares in the total population and the gross domestic product of the European Union, in equal measure, as notified to the ECB by the European Commission. The weightings are adjusted every five years or whenever a new Member State joins the European Union. Accordingly, the ECB’s capital key has been changed today on account of Croatia joining the European Union and its national central bank, Hrvatska narodna banka, becoming a member of the European System of Central Banks (ESCB).

In accordance with Article 48.3 of the Statute, the ECB’s subscribed capital is automatically increased when a country joins the European Union and its NCB becomes a member of the ESCB. The increase is determined by multiplying the prevailing amount of subscribed capital (i.e. EUR 10,760,652,402.58) by the ratio, within the extended capital key, between the weight of the NCB joining and those of the NCBs that are already members. Therefore, today the subscribed capital of the ECB has been increased to EUR 10,825,007,069.61.

Eurosystem NCBs are required to pay up their subscribed capital in full. The 11 non-euro area NCBs (now including Hrvatska narodna banka) are required to pay up a small percentage of their share in the ECB’s subscribed capital (3.75% as at 29 December 2010) as a contribution to the operational costs of the ECB. The new shares of the NCBs in the ECB’s capital key are set out below.

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 (%) from 1 January 2009 Key for subscription to the ECB’s capital (%) from 1 July 2013 Subscribed share of capital (EUR) from 1 July 2013 Paid-up capital (EUR) from 1 July 2013
Nationale Bank van België/ Banque Nationale de Belgique 2.4256 2.4176 261,705,370.91 261,705,370.91
Deutsche Bundesbank 18.9373 18.7603 2,030,803,801.28 2,030,803,801.28
Eesti Pank 0.1790 0.1780 19,268,512.58 19,268,512.58
Central Bank of Ireland 1.1107 1.1111 120,276,653.55 120,276,653.55
Bank of Greece 1.9649 1.9483 210,903,612.74 210,903,612.74
Banco de España 8.3040 8.2533 893,420,308.48 893,420,308.48
Banque de France 14.2212 14.1342 1,530,028,149.23 1,530,028,149.23
Banca d’Italia 12.4966 12.4570 1,348,471,130.66 1,348,471,130.66
Central Bank of Cyprus 0.1369 0.1333 14,429,734.42 14,429,734.42
Banque centrale du Luxembourg 0.1747 0.1739 18,824,687.29 18,824,687.29
Central Bank of Malta 0.0632 0.0635 6,873,879.49 6,873,879.49
De Nederlandsche Bank 3.9882 3.9663 429,352,255.40 429,352,255.40
Oesterreichische Nationalbank 1.9417 1.9370 209,680,386.94 209,680,386.94
Banco de Portugal 1.7504 1.7636 190,909,824.68 190,909,824.68
Banka Slovenije 0.3288 0.3270 35,397,773.12 35,397,773.12
Národná banka Slovenska 0.6934 0.6881 74,486,873.65 74,486,873.65
Suomen Pankki – Finlands Bank 1.2539 1.2456 134,836,288.06 134,836,288.06
Subtotal for the group of euro area NCBs 69.9705 69.5581 7,529,669,242.49 7,529,669,242.49
Българска народна банка (Bulgarian National Bank) 0.8686 0.8644 93,571,361.11 3,508,926.04
Česká národní banka 1.4472 1.4539 157,384,777.79 5,901,929.17
Danmarks Nationalbank 1.4835 1.4754 159,712,154.31 5,989,205.79
Latvijas Banka 0.2837 0.2742 29,682,169.38 1,113,081.35
Lietuvos bankas 0.4256 0.4093 44,306,753.94 1,661,503.27
Magyar Nemzeti Bank 1.3856 1.3740 148,735,597.14 5,577,584.89
Narodowy Bank Polski 4.8954 4.8581 525,889,668.45 19,720,862.57
Banca Naţională a României 2.4645 2.4449 264,660,597.84 9,924,772.42
Sveriges Riksbank 2.2582 2.2612 244,775,059.86 9,179,064.74
Bank of England 14.5172 14.4320 1,562,265,020.29 58,584,938.26
Subtotal for the previous group of non-euro area NCBs 30.0295 29.8474 3,230,983,160.09 121,161,868.50
Hrvatska narodna banka - 0.5945 64,354,667.03 2,413,300.01
Subtotal for the new non-euro area NCB 0 0.5945 64,354,667.03 2,413,300.01
Total [1] 100.0000 100.0000 10,825,007,069.61 7,653,244,410.99


[1]Numbers may not add up due to rounding.

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