Adjustments to the ECB’s capital subscription key and the contribution paid by Latvijas Banka
- 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|
|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|
|Central Bank of Cyprus||0.1333||0.1513||16,378,235.70||16,378,235.70|
|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|
|Banco de Portugal||1.7636||1.7434||188,723,173.25||188,723,173.25|
|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|
|Hrvatska narodna banka||0.5945||0.6023||65,199,017.58||2,444,963.16|
|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|
|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|
*Numbers may not add up owing to rounding.
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