Decision (EU) 2017/2444 of the European Central BankShow full title

Article 1 Amendments

Decision (EU) 2015/2332 (ECB/2015/43) is amended as follows:

1.

Article 2 is amended as follows,

(a)

paragraph 9 is replaced by the following:

‘9. Where the Executive Board determines that the annual approval requests do not require a modification of the annual volume of coin issuance requested by each euro area Member State, the Executive Board shall adopt a decision on the approval of the annual volume of coin issuance for the euro area before the end of the calendar year preceding the year for which the requests for approval are made.’; and

(b)

the following paragraph 10 is added:

‘10. Where the Executive Board determines that the volume of coin issuance requested by one or more requesting euro area Member States requires modification, following consultation with the Member State concerned, it shall submit a reasoned proposal explaining the required modifications to the Governing Council. In such cases, the Governing Council shall adopt the decision on the approval of the annual volume of coin issuance for the euro area without undue delay.’;

2.

Article 3 is amended as follows:

(a)

paragraph 7 is replaced by the following:

‘7. Where the Executive Board determines that the additional volume of coin issuance requested by a euro area Member State pursuant to paragraph 5 does not require modification, the Executive Board shall adopt an individual decision on the ad hoc approval request without undue delay.’; and

(b)

the following paragraph 8 is added:

‘8. Where the Executive Board determines that the additional volume of coin issuance requested by a euro area Member State requires modification, it shall submit a reasoned proposal explaining the required modifications to the Governing Council. In such cases, the Governing Council shall adopt an individual decision on the ad hoc approval request without undue delay.’.