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

January 2008

Operational issues

US dollar liquidity providing operations

On 10 January 2008 the Governing Council of the ECB decided, in conjunction with the Federal Reserve System and in the context of the Term Auction Facility (TAF), to further offer US dollar liquidity in January, in order to contribute again to satisfying the exceptional needs for dollar funding and to facilitate the further normalisation of conditions in the money market. A press release was published on the ECB’s website on 10 January 2008.

Payment Systems and Market Infrastructure

Oversight framework for card payment schemes – standards

On 4 January 2008 the Governing Council of the ECB approved a report entitled “Oversight framework for card payment schemes – standards”, which lays down Eurosystem oversight standards for card payment schemes operating in the euro area. The aim of these standards is to ensure that the card payment schemes are secure and efficient. The report, together with the comments received during the public consultation on a previous version of the report, has been published on the ECB’s website today.

Advice on legislation

ECB Opinion on the control of reproduction of euro banknotes in Cyprus

On 4 January 2008, at the request of the Cypriot Ministry of Commerce, the Governing Council adopted an Opinion on the control of reproduction of euro banknotes and coins in Cyprus (CON/2008/1). The Opinion is available on the ECB’s website.

ECB Opinion on the distribution of powers between Česká národní banka and the Czech Ministry of Finance

On 7 January 2008, at the request of the Czech Ministry of Finance, the Governing Council adopted an Opinion on the distribution of powers between Česká národní banka and the Ministry of Finance to prepare and submit certain draft laws to the Government (CON/2008/2). The Opinion is available on the ECB’s website.

ECB Opinion on German legislation on coins

On 9 January 2008, at the request of the German Ministry of Finance, the Governing Council adopted an Opinion on German legislation on coins (CON/2008/3). The Opinion is available on the ECB’s website.

Corporate Governance

ECB Decision on matters relating to the entry of the Central Bank of Cyprus and the Central Bank of Malta into the Eurosystem

On 31 December 2007 the Governing Council adopted a Decision on the paying-up of capital, transfer of foreign reserve assets and contributions by the Central Bank of Cyprus and the Central Bank of Malta to the European Central Bank’s reserves and provisions (ECB/2007/22). The Decision will be published shortly in the Official Journal of the EU and on the ECB’s website.

ECB Agreement on the Central Bank of Cyprus’ claim under Article 30.3 of the ESCB Statute

On 31 December 2007 the ECB and the Central Bank of Cyprus signed an Agreement regarding the claim credited to the Central Bank of Cyprus by the ECB under Article 30.3 of the ESCB Statute. The Agreement will be published shortly in the Official Journal of the EU and on the ECB’s website.

ECB Agreement on the Central Bank of Malta’s claim under Article 30.3 of the ESCB Statute

On 31 December 2007 the ECB and the Central Bank of Malta signed an Agreement regarding the claim credited to the Central Bank of Malta by the ECB under Article 30.3 of the ESCB Statute. The Agreement will be published shortly in the Official Journal of the EU and on the ECB’s website.

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