{
  "url": "https://openlegislation.uk/eu-decision-1998-382/introduction",
  "json_url": "https://openlegislation.uk/eu-decision-1998-382/introduction.json",
  "legislation": "eudn/1998/382",
  "legislation_title": "Council Decision of 5 June 1998 on the statistical data to be used for the determination of the key for subscription of the capital of the European Central Bank (98/382/EC)",
  "legislation_url": "https://openlegislation.uk/eu-decision-1998-382",
  "path": "introduction",
  "kind": "introduction",
  "number": null,
  "heading": "Introductory text",
  "text": "Council Decision\nof 5 June 1998\non the statistical data to be used for the determination of the key for subscription of the capital of the European Central Bank\n(98/382/EC)\nTHE COUNCIL OF THE EUROPEAN UNION,\nHaving regard to the Treaty establishing the European Community and in particular Article 29.2 of the Protocol on the Statute of the European System of Central Banks and of the European Central Bank annexed thereto,\nHaving regard to the proposal from the Commission,\nHaving regard to the opinion of the European Parliament,\nHaving regard to the opinion of the European Monetary Institute,\nActing in accordance with the procedure provided for in Article 106(6) of the Treaty and in Article 42 of the said Protocol,\n(1)\nWhereas the European Central Bank (ECB) will be established as soon as its Executive Board is appointed;\n(2)\nWhereas the initial capital of the ECB, which shall become operational upon its establishment, is ECU 5 000 million;\n(3)\nWhereas the national central banks will be the sole subscribers to, and holders of, the capital of the ECB;\n(4)\nWhereas the key for the subscription of the ECB's capital will be determined when the ECB is established;\n(5)\nWhereas the statistical data to be used for the establishment of the key will be provided by the Commission in accordance with the rules adopted by the Council;\n(6)\nWhereas the nature of, and sources for, the data to be used and the method of calculation of the weighting of national central banks in the key must be defined;\n(7)\nWhereas Council Directive 89/130/EEC, Euratom of 13 February 1989 on the harmonisation of the compilation of gross national product at market prices introduces a procedure for the adoption by Member States of data on the gross domestic product at market prices; whereas Member States must take all the necessary steps to ensure that these data are transmitted to the Commission,\nHAS DECIDED AS FOLLOWS:",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "OJ C 118, 17. 4. 1998, p. 13."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Opinion delivered on 28 May 1998 (not yet published in the Official Journal)."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Opinion delivered on 6 April 1998 (not yet published in the Official Journal)."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "OJ L 49, 21. 2. 1989, p. 26."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/1998/382/introduction",
    "retrieved_at": "2026-11-01T15:19:03.326811+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}