Protocols annexed to the Treaty establishing the European Community
Economic and monetary union. Legal and political texts (2007)
Secretariat General - Council of the European Union
Section: Primary law
Permanent Link:
http://vlex.com/vid/455583
Id. vLex: VLEX-455583
Click here to download this article in graphic format (Acrobat Reader)
Search in this document
Document options
Protocol (No 18) on the Statute of the European System of Central Banks and of the European Central Bank (1992)- Chapter I Constitution of the ESCB- Article i The European System of Central Banks- Chapter II Objectives and Tasks of the ESCB- Article 2 Objectives- Article 3 Tasks- Article 4 Advisory functions Article 5 Collection of statistical information- Article 6 International cooperation- Chapter III Organisation of the ESCB- Article 7 Independence- Article 8 General principle- Article 9 The European Central Bank- Article 10 The Governing Council Article 11 The Executive Board- Article 12 Responsibilities of the decision-making bodies- Article 13 The President- Article 14 National central banks- Article 15 Reporting commitments- Article 16 Banknotes- Chapter IV Monetary Functions and Operations of the ESCB Article 17 Accounts with the ECB and the national central banks- Article 18 Open market and credit operations- Article 19 Minimum reserves- Article 20 Other instruments of monetary control- Article 21 Operations with public entities- Article 22 Clearing and payment systems- Article 23 External operations Article 24 Other operations- Chapter V Prudential Supervision- Article 25 Prudential supervision- Chapter VI Financial Provisions of the ESCB- Article 26 Financial accounts- Article 27 Auditing- Article 28 Capital of the ECB Article 29 Key for capital subscription- Article 30 Transfer of foreign reserve assets to the ECB- Article 31 Foreign reserve assets held by national central banks- Article 32 Allocation of monetary income of national central banks- Article 33 Allocation of net profits and losses of the ECB- Chapter VII General Provisions- Article 34 Legal acts Article 35 Judicial control and related matters- Article 36 Staff- Article 37 Seat- Article 38 Professional secrecy- Article 39 Signatories- Article 40 Privileges and immunities- Chapter VIII Amendment of the Statute and Complementary Legislation Article 41 Simplified amendment procedure- Article 42 Complementary legislation- Chapter IX Transitional and Other Provisions for the ESCB- Article 43 General provisions- Article 44 Transitional tasks of the ECB- Article 45 The General Council of the ECB- Article 46 Rules of Procedure of the General Council Article 47 Responsibilities of the General Council- Article 48 Transitional provisions for the capital of the ECB- Article 49 Deferred payment of capital, reserves and provisions of the ECB- Article so Initial appointment of the members of the Executive Board- Article si Derogation from Article 32- Article 52 Exchange of banknotes in Community currencies- Article 53 Applicability of the transitional provisions Protocol (No 20) on the excessive deficit procedure (1992)- Article 1- Article 2- Article 3- Article 4- Protocol (No 21) on the convergence criteria referred to in Article 121 of the Treaty establishing the European Community (1992)- Article 1 Article 2- Article 3- Article 4- Article 5- Article 6- Protocol (No 25)on certain provisions relating to the United Kingdom of Great Britain and Northern Ireland (1992)
Protocols annexed to the Treaty establishing the European Community
Protocol (No 18) on the Statute of the European System of Central Banks and of the European Central Bank (1992) THE* HIGH CONTRACTING PARTIES, DESIRING to lay down the Statute of the European System of Central Banks and of the European Central Bank provided for in Article 8 of the Treaty establishing the European Community, HAVE AGREED upon the following provisions, which shall be annexed to the Treaty establishing the European Community. Chapter I Constitution of the ESCB Article i The European System of Central Banks 1.1. The European System of Central Banks (ESCB) and the European Central Bank (ECB) shall be established in accordance with Article 8 of this Treaty; they shall perform their tasks and carry on their activities in accordance with the provisions of this Treaty and of this Statute. 1.2. In accordance with Article 107(1) of this Treaty, the ESCB shall be com posed of the ECB and of the central banks of the Member States ('national central banks'). The Institut monétaire luxembourgeois will be the central bank of Luxembourg. Chapter II Objectives and Tasks of the ESCB Article 2 Objectives In accordance with Article 105(1) of this Treaty, the primary objective of the ESCB shall be to maintain price stability. Without prejudice to the objective of price stability, it shall support the general economic policies in the Community with a view to contributing to the achievement of the objectives of the Community as laid down in Article 2 of this Treaty. The ESCB shall act in accordance with the principle of an open market economy with free competition, favouring an ecient allocation of resources, and in compliance with the principles set out in Article 4 of this Treaty. Article 3 Tasks 3.1. In accordance with Article 105(2) of this Treaty, the basic tasks to be carried out through the ESCB shall be: - to dene and implement the monetary policy of the Community; - to conduct foreign-exchange operations consistent with the provisions of Article 111 of this Treaty; - to hold and manage the ocial foreign reserves of the Member States; - to promote the smooth operation of payment systems. 3.2. In accordance with Article 105(3) of this Treaty, the third indent of Article 3.1 shall be without prejudice to the holding and management by the Gov ernments of Member States of foreign-exchange working balances. 3.3. In accordance with Article 105(5) of this Treaty, the ESCB shall contribute to the smooth conduct of policies pursued by the competent authorities relat ing to the prudential supervision of credit institutions and the stability of the nancial system. Article 4 Advisory functions In accordance with Article 105(4) of this Treaty: (a) the ECB shall be consulted: - on any proposed Community act in its elds of competence; - by national authorities regarding any draft legislative provision in its elds of competence, but within the limits and under the conditions set out by the Council in accordance w...
If you are already a vLex customer, Access Here
