Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)

August 2006

Operational issues

Indicative calendars for Eurosystem tender operations and reserve maintenance periods

On 26 July 2006 the Governing Council approved the indicative calendars for Eurosystem tender operations and reserve maintenance periods in 2007. Details are provided in two press releases published on the ECB’s website on 28 July 2006 in all official Community languages.

Payment systems and market infrastructure

The connection of Banka Slovenije to TARGET

On 3 August 2006 the Governing Council approved the connection of Banka Slovenije to the TARGET system with effect from 1 January 2007. In this regard, a new Guideline amending Guideline ECB/2005/16 of 30 December 2005 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET) (ECB/2006/11) was adopted. The Guideline was published in the Official Journal of the EU on 12 August 2006 and is also available on the ECB’s website.

Cross-border use of collateral

On 3 August 2006 the Governing Council decided to prolong beyond 2007 the correspondent central banking model (CCBM) used for the cross-border transfer of collateral in Eurosystem monetary policy and intraday credit operations.

Advice on legislation

ECB Opinion on Greek consumer protection legislation

On 25 July 2006, at the request of the Bank of Greece, the Governing Council adopted an Opinion on the establishment of a consumer protection regime within the scope of the Bank of Greece’s prudential supervisory role and other related provisions (CON/2006/38). The Opinion is available on the ECB’s website.

ECB Opinion on banking supervision in Poland

On 2 August 2006, at the request of Poland’s National Assembly, the Governing Council adopted an Opinion on a change of composition of the Banking Supervision Commission (CON/2006/39). The Opinion, together with a related press release, is available on the ECB’s website.

ECB Opinion on the pledging of claims as collateral to the Nationale Bank van België/Banque Nationale de Belgique

On 3 August 2006, at the request of the Belgian Ministry of Finance, the Governing Council adopted an Opinion on an amendment to the statutes of the Nationale Bank van België/Banque Nationale de Belgique with regard to the pledging of claims to it as collateral for its credit operations (CON/2006/40). The Opinion is available on the ECB’s website.

ECB Opinion on the imposition of minimum reserves in Slovenia

On 10 August 2006, at the request of Banka Slovenije, the Governing Council adopted an Opinion on minimum reserves (CON/2006/41). The Opinion is available on the ECB’s website.

ECB Opinion on the terms and conditions of affiliation of Cypriot cooperative credit institutions

On 23 August 2006, at the request of the Cyprus Cooperative Societies’ Supervision and Development Authority, the Governing Council adopted an Opinion on the terms and conditions of affiliation of cooperative credit institutions with a central body (CON/2006/42). The Opinion is available on the ECB’s website.

ECB Opinion on the cash changeover in Slovenia

On 25 August 2006, at the request of Banka Slovenije, the Governing Council adopted an Opinion on a legal basis for the euro cash changeover and frontloading and sub-frontloading (CON/2006/43). The Opinion is available on the ECB’s website.

ECB Opinion on amendments to the Banca d’Italia’s statutes

On 25 August 2006, at the request of the Banca d’Italia, the Governing Council adopted an Opinion on a general revision of the Banca d’Italia’s statutes (CON/2006/44). The Opinion is available on the ECB’s website.

ECB Opinion on Czech banknote reproduction rules

On 28 August 2006, at the request of Česká národní banka, the Governing Council adopted an Opinion on the reproduction of banknotes, coins and other money symbols in the Czech Republic (CON/2006/45). The Opinion is available on the ECB’s website.

ECB Opinion on Hungarian payments legislation

On 30 August 2006, at the request of Magyar Nemzeti Bank and the Hungarian Ministry of Finance, the Governing Council adopted an Opinion on draft Hungarian legislation governing payment transactions, and payment services and electronic payment instruments (CON/2006/46). The Opinion will be published shortly on the ECB’s website.

Banknotes

ECB Guideline on the exchange of banknotes

On 24 July 2006 the Governing Council adopted a Guideline on the exchange of banknotes after the irrevocable fixing of exchange rates in connection with the introduction of the euro (ECB/2006/10). The Guideline was published in the Official Journal of the EU on 5 August 2006 and is also available on the ECB’s website.

Media contacts