Article 1 Amendments

Decision ECB/2010/23 is amended as follows:

1.

Article 3(1) is replaced by the following:

‘1. The amount of each NCB's monetary income shall be determined by measuring the actual income that derives from the earmarkable assets recorded in its books. As exceptions thereto:

(a) gold shall not be considered to generate income;

(b) the following shall be considered to generate monetary income at the reference rate:

(i)

securities held for monetary policy purposes under Decision ECB/2009/16(1);

(ii)

securities held for monetary policy purposes under Decision ECB/2011/17(2);

(iii)

debt instruments issued by central governments and recognised agencies and substitute debt instruments issued by public non-financial corporations held for monetary policy purposes under Decision (EU) 2015/774 of the European Central Bank (ECB/2015/10)(3).’;

2.

in paragraph A of Annex I, the following point 8 is added:

‘8. Liabilities vis-à-vis the ECB backing a claim that relates to swap agreements between the ECB and a non-Eurosystem central bank which earn net income for the Eurosystem (part of off-balance-sheet liabilities).’;

3.

in paragraph A of Annex II, the following point 10 is added:

‘10. Claims on euro area counterparties that relate to swap agreements between the ECB and a non-Eurosystem central bank which earn net income for the Eurosystem (part of asset item 3.1 of the HBS).’.

Article 2 Entry into force

This Decision shall enter into force on 31 December 2015.

Done at Frankfurt am Main, 19 November 2015.

The President of the ECB

Mario Draghi