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2010/624/EU: Decision of the European Central Bank of 14 October 2010 concerning the administration of the borrowing and lending operations concluded by the Union under the European financial stabilisation mechanism (ECB/2010/17)

Type Decision
Publication 2010-10-20
Last updated 2022-03-30
State In force
Department European Central Bank
Source EUR-Lex
articles 6
Reform history JSON API

Article 1

The ECB shall perform the tasks in relation to the administration of loans, and shall effect payments connected with the Union’s borrowing and lending operations under the European financial stabilisation mechanism, as stipulated in Regulation (EU) No 407/2010.

Article 2

The ECB shall, upon request of the Commission, open accounts in the name of the Commission and, upon request of a national central bank of a beneficiary Member State, open accounts in the name of such national central bank.

Article 3

The accounts referred to in Article 2 shall be used to process payments in connection with the European financial stabilisation mechanism for the benefit of Member States.

Article 4

The accounts referred to in Article 2 shall be remunerated in accordance with the provisions of Article 2(1) of Decision (EU) 2019/1743 of the European Central Bank (ECB/2019/31) ([^E0001]).

Article 5

The ECB’s Executive Board shall make all the arrangements necessary to give effect to this Decision.

Article 6

This Decision shall enter into force on the day following its publication in the Official Journal of the European Union.

[^E0001]: Decision (EU) 2019/1743 of the European Central Bank of 15 October 2019 on the remuneration of holdings of excess reserves and of certain deposits (ECB/2019/31) (OJ L 267, 21.10.2019, p. 12).

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