PRESS RELEASE

Adjustments to the ECB’s capital subscription key and the contribution paid by Latvijas Banka

1 January 2014
  • Five-yearly adjustment of the key for capital subscription based on GDP and population size
  • Latvijas Banka joins the Eurosystem and pays its capital subscription in full

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

Pursuant to Article 29 of the Protocol on the Statute of the European System of Central Banks and of the European Central Bank, the shares of the NCBs in the ECB’s capital key are weighted according to the shares of the respective Member States in the total population and gross domestic product of the European Union (EU), in equal measure, as notified to the ECB by the European Commission. The weightings are adjusted every five years or whenever a country joins the EU. Accordingly, the ECB’s capital key is being adjusted today on account of the five-yearly update, on the basis of data provided by the European Commission. In such events, NCBs transfer capital shares among themselves to the extent necessary to ensure that the distribution of the shares corresponds to the adjusted key. The new distribution of the NCBs’ shares in the ECB’s capital key is set out in the table attached to this press release. The total amount of the subscribed capital of the ECB remains unchanged at EUR 10,825,007,069.61.

Also today, Latvia has adopted the euro and Latvijas Banka has joined the Eurosystem. In accordance with Article 49 of the Statute, whereby Eurosystem NCBs are required to pay up their subscribed capital in full, Latvijas Banka has paid up the remainder of its contribution to the capital of the ECB. In the case of the ten non-euro area NCBs, the requirement is to pay up a minimal percentage of their subscribed capital, currently 3.75%, 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.

Distribution of the ECB’s capital

Key for subscription to the ECB’s capital (%) until 31 December 2013 Key for subscription to the ECB’s capital (%) from 1 January 2014 Subscribed share of capital (EUR) from 1 January 2014 Paid-up capital (EUR) from 1 January 2014
Nationale Bank van België/ Banque Nationale de Belgique 2.4176 2.4778 268,222,025.17 268,222,025.17
Deutsche Bundesbank 18.7603 17.9973 1,948,208,997.34 1,948,208,997.34
Eesti Pank 0.1780 0.1928 20,870,613.63 20,870,613.63
Central Bank of Ireland 1.1111 1.1607 125,645,857.06 125,645,857.06
Bank of Greece 1.9483 2.0332 220,094,043.74 220,094,043.74
Banco de España 8.2533 8.8409 957,028,050.02 957,028,050.02
Banque de France 14.1342 14.1792 1,534,899,402.41 1,534,899,402.41
Banca d'Italia 12.4570 12.3108 1,332,644,970.33 1,332,644,970.33
Central Bank of Cyprus 0.1333 0.1513 16,378,235.70 16,378,235.70
Latvijas Banka - 0.2821 30,537,344.94 30,537,344.94
Banque centrale du Luxembourg 0.1739 0.2030 21,974,764.35 21,974,764.35
Central Bank of Malta 0.0635 0.0648 7,014,604.58 7,014,604.58
De Nederlandsche Bank 3.9663 4.0035 433,379,158.03 433,379,158.03
Oesterreichische Nationalbank 1.9370 1.9631 212,505,713.78 212,505,713.78
Banco de Portugal 1.7636 1.7434 188,723,173.25 188,723,173.25
Banka Slovenije 0.3270 0.3455 37,400,399.43 37,400,399.43
Národná banka Slovenska 0.6881 0.7725 83,623,179.61 83,623,179.61
Suomen Pankki – Finlands Bank 1.2456 1.2564 136,005,388.82 136,005,388.82
Subtotal for the group of euro area NCBs 69.5581 69.9783 7,575,155,922.19 7,575,155,922.19
Българска народна банка (Bulgarian National Bank) 0.8644 0.8590 92,986,810.73 3,487,005.40
Česká národní banka 1.4539 1.6075 174,011,988.64 6,525,449.57
Danmarks Nationalbank 1.4754 1.4873 161,000,330.15 6,037,512.38
Hrvatska narodna banka 0.5945 0.6023 65,199,017.58 2,444,963.16
Latvijas Banka 0.2742 - - -
Lietuvos banka 0.4093 0.4132 44,728,929.21 1,677,334.85
Magyar Nemzeti Bank 1.3740 1.3798 149,363,447.55 5,601,129.28
Narodowy Bank Polski 4.8581 5.1230 554,565,112.18 20,796,191.71
Banca Naţională a României 2.4449 2.6024 281,709,983.98 10,564,124.40
Sveriges riksbank 2.2612 2.2729 246,041,585.69 9,226,559.46
Bank of England 14.4320 13.6743 1,480,243,941.72 55,509,147.81
Subtotal for the group of non-euro area NCBs 30.4419 30.0217 3,249,851,147.43 121,869,418.02
Total* 100.0000 100.0000 10,825,007,069.62 7,697,025,340.21

*Numbers may not add up owing to rounding.

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