Council Decision (EU) 2021/357 of 25 January 2021 amending Decision 98/683/EC concerning exchange rate matters relating to the CFA franc and the Comorian franc

COUNCIL DECISION (EU) 2021/357

of 25 January 2021

amending Decision 98/683/EC concerning exchange rate matters relating to the CFA franc and the Comorian franc

Article 1

Decision 98/683/EC is amended as follows:

• (1) the title is replaced by the following: ‘Council Decision 98/683/EC of 23 November 1998 concerning exchange rate matters relating to the currencies of the UEMOA, the CEMAC and the Comores’;

• (2) Articles 3 to 5 are replaced by the following: ‘Article 3 The competent French authorities shall keep the Commission, the European Central Bank and the Economic and Financial Committee informed on a regular basis about the implementation of the agreements. The French authorities shall inform the Economic and Financial Committee prior to changes of the parity between the euro and the currencies of the UEMOA, the CEMAC or the Comores.

Article 4

France may negotiate and conclude modifications to the present agreements, or replace them, provided that the nature or scope of the agreements is not changed. It shall inform in advance the Commission, the European Central Bank and the Economic and Financial Committee of such modifications.

Article 5

Any plans to change the nature or scope of the present agreements, either by amending or by replacing them, shall be submitted by France to the Commission, the European Central Bank and the Economic and Financial Committee. Such plans shall require the approval of the Council on the basis of a recommendation from the Commission and after consultation of the European Central Bank.’.

Article 2

This Decision shall take effect on the date of its notification.

Article 3

This Decision is addressed to the French Republic.