http://www.legislation.gov.uk/id/eudn/2019/8

Decision (EU) 2019/670 of the European Central Bank

of 9 April 2019

amending Decision ECB/2014/8 on the prohibition of monetary financing and the remuneration of government deposits by national central banks (ECB/2019/8)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union, and in particular the second indent of Article 132(1) thereof,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular the second indent of Article 34.1 thereof,

Whereas:

(1)

To assist the Governing Council in monitoring compliance with the prohibition on monetary financing under Article 123 of the Treaty on the Functioning of the European Union, Decision ECB/2014/81 sets out the market rates that operate as ceilings for the remuneration of deposits held by governments and public authorities with their respective national central bank.

(2)

To preserve the integrity of the single monetary policy, the relevant market rates need to be further specified and updated.

(3)

Therefore, Decision ECB/2014/8 should be amended accordingly,

HAS ADOPTED THIS DECISION: