Agreement of 13 November 2014 between the European Central Bank and the national central banks of the Member States outside the euro area amending the Agreement of 16 March 2006 between the European Central Bank and the national central banks of the Member States outside the euro area laying down the operating procedures for an exchange rate mechanism in stage three of Economic and Monetary Union 2015/C 64/01
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Address https://gelex.eu/eli/EU/notice/oj/C/2015/64/01@2014-11-13/en
Българска народна банка (Bulgarian National Bank) 1, Knyaz Alexander I Sq. 1000 София/Sofia БЪЛГАРИЯ/BULGARIA Česká národní banka Na Příkopě 28 115 03 Praha 1 ČESKÁ REPUBLIKA Danmarks Nationalbank Havnegade 5 1093 København K DANMARK Hrvatska narodna banka Trg hrvatskih velikana 3 HR-10002 Zagreb HRVATSKA Lietuvos bankas Gedimino pr. 6 LT-01103 Vilnius LIETUVA/LITHUANIA Magyar Nemzeti Bank Budapest Szabadság tér 8/9 1054 MAGYARORSZÁG/HUNGARY Narodowy Bank Polski ul. Świętokrzyska 11/21 00-919 Warszawa POLSKA/POLAND Banca Naţională a României Strada Lipscani nr. 25, sector 3 030031 București ROMÂNIA Sveriges Riksbank Brunkebergstorg 11 SE-103 37 Stockholm SVERIGE Bank of England Threadneedle Street London EC2R 8AH UNITED KINGDOM and European Central Bank (ECB) (hereinafter the Parties) Whereas:
1. The European Council in its Resolution of 16 June 1997 (hereinafter the Resolution) agreed to set up an exchange rate mechanism (hereinafter ERM II) when the third stage of Economic and Monetary Union began on 1 January 1999.
2. Under the terms of the Resolution, ERM II is designed to help ensure that non-euro area Member States participating in ERM II orient their policies to stability, foster convergence and thereby help the non-euro area Member States in their efforts to adopt the euro.
3. Lithuania, as a Member State with a derogation, has participated in ERM II since 2004. Lietuvos bankas is a party to the Agreement of 16 March 2006 between the European Central Bank and the national central banks of the Member States outside the euro area laying down the operating procedures for an exchange rate mechanism in stage three of Economic and Monetary Union, as amended by the Agreement of 21 December 2006, by the Agreement of 14 December 2007, by the Agreement of 8 December 2008, by the Agreement of 13 December 2010, by the Agreement of 21 June 2013 and by the Agreement of 6 December 2013 (hereinafter collectively referred to as the ERM II Central Bank Agreement).
4. Pursuant to Article 1 of Council Decision 2014/509/EU of 23 July 2014 on the adoption by Lithuania of the euro on 1 January 2015 the derogation in favour of Lithuania referred to in Article 4 of the 2003 Act of Accession is abrogated with effect from 1 January 2015. The euro will be Lithuania's currency from 1 January 2015 and Lietuvos bankas should no longer be party to the ERM II Central Bank Agreement from that date.
5. It is therefore necessary to amend the ERM II Central Bank Agreement to take account of the abrogation of the derogation in favour of Lithuania,
HAVE AGREED AS FOLLOWS:
Article 1 Amendment to the ERM II Central Bank Agreement in view of the abrogation of Lithuania's derogation
Lietuvos bankas shall no longer be party to the ERM II Central Bank Agreement from 1 January 2015.
Article 2 Replacement of Annex II to the ERM II Central Bank Agreement
Annex II to the ERM II Central Bank Agreement is replaced by the text set out in the Annex to this Agreement.
Article 3 Final provisions
1. This Agreement amends the ERM II Central Bank Agreement with effect from 1 January 2015.
2. This Agreement shall be drawn up in English and duly signed by the Parties' authorised representatives. The ECB, which shall retain the original Agreement, shall send a certified copy of the original Agreement to each euro area and non-euro area national central bank. The Agreement shall be published in the Official Journal of the European Union.
Done at Frankfurt am Main, 13 November 2014. For Българска народна банка (Bulgarian National Bank) … For Česká národní banka … For Danmarks Nationalbank … For Hrvatska narodna banka … For Lietuvos bankas … For the Magyar Nemzeti Bank … For Narodowy Bank Polski … For Banca Naţională a României … For Sveriges Riksbank … For the Bank of England … For the European Central Bank …
ANNEX
ANNEX CEILINGS ON ACCESS TO THE VERY SHORT-TERM FINANCING FACILITY REFERRED TO IN ARTICLES 8, 10 AND 11 OF THE ERM II CENTRAL BANK AGREEMENT with effect from 1 January 2015
(EUR million) Central banks party to this Agreement Ceilings Българска народна банка (Bulgarian National Bank) 530 Česká národní banka 780 Danmarks Nationalbank 740 Hrvatska narodna banka 450 Magyar Nemzeti Bank 700 Narodowy Bank Polski 1940 Banca Naţională a României 1110 Sveriges Riksbank 1000 Bank of England 4750 European Central Bank nil Euro area national central banks Ceilings Nationale Bank van België/Banque Nationale de Belgique nil Deutsche Bundesbank nil Eesti Pank nil Central Bank of Ireland nil Bank of Greece nil Banco de España nil Banque de France nil Banca d’Italia nil Central Bank of Cyprus nil Latvijas Banka nil Lietuvos bankas nil Banque centrale du Luxembourg nil Central Bank of Malta nil De Nederlandsche Bank nil Oesterreichische Nationalbank nil Banco de Portugal nil Banka Slovenije nil Národná banka Slovenska nil Suomen Pankki nil