{
  "url": "https://openlegislation.uk/eu-decision-2020-138/introduction",
  "json_url": "https://openlegislation.uk/eu-decision-2020-138/introduction.json",
  "legislation": "eudn/2020/138",
  "legislation_title": "Decision (EU) 2020/138 of the European Central Bank of 22 January 2020 on the paying-up of the European Central Bank’s capital by the national central banks of Member States whose currency is the euro and repealing Decision (EU) 2019/44 (ECB/2020/4)",
  "legislation_url": "https://openlegislation.uk/eu-decision-2020-138",
  "path": "introduction",
  "kind": "introduction",
  "number": null,
  "heading": "Introductory text",
  "text": "Decision (EU) 2020/138 of the European Central Bank\nof 22 January 2020\non the paying-up of the European Central Bank’s capital by the national central banks of Member States whose currency is the euro and repealing Decision (EU) 2019/44 (ECB/2020/4)\nTHE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,\nHaving regard to the Treaty on the Functioning of the European Union,\nHaving regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 28.3 thereof,\nWhereas:\n(1)\nDecision (EU) 2019/44 of the European Central Bank (ECB/2018/28) determined how and to what extent national central banks (NCBs) of Member States whose currency is the euro (hereinafter ‘euro area NCBs’) were under an obligation to pay up the capital of the European Central Bank (ECB) from 1 January 2019.\n(2)\nOn 29 March 2017, the United Kingdom of Great Britain and Northern Ireland (the ‘United Kingdom’) submitted the notification of its intention to withdraw from the European Union pursuant to Article 50 of the Treaty on European Union. The Treaty on European Union and the Treaty on the Functioning of the European Union will cease to apply to the United Kingdom from the date following the date referred to in Article 1(1) of Decision (EU) 2019/1810 of the European Council. Upon the withdrawal of the United Kingdom from the European Union, the Bank of England (BoE) ceases to be a national central bank of a Member State and therefore of the European System of Central Banks. Decision (EU) 2020/137 of the European Central Bank (ECB/2020/3) provides for the adjustment of the key for subscription to the ECB’s capital (hereinafter the ‘capital key’) in accordance with Article 29.3 and Article 29.4 of the Statute of the European System of Central Banks and of the European Central Bank and establishes with effect from 1 February 2020 the new weightings assigned to the NCBs in the adjusted capital key (hereinafter the ‘capital key weightings’).\n(3)\nThe adjustment of the ECB’s capital key triggered by the BoE ceasing to be a national central bank of a Member State requires the adoption of a new ECB decision repealing Decision (EU) 2019/44 (ECB/2018/28) with effect from 1 February 2020, and determining how and to what extent, the euro area NCBs are under an obligation to pay up the ECB’s capital with effect from 1 February 2020,\nHAS ADOPTED THIS DECISION:",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Decision (EU) 2019/44 of the European Central Bank of 29 November 2018 on the paying-up of the European Central Bank’s capital by the national central banks of Member States whose currency is the euro, amending Decision ECB/2014/61 and repealing Decision ECB/2013/30 (ECB/2018/28) (OJ L 9, 11.1.2019, p. 180)."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "European Council Decision (EU) 2019/1810 taken in agreement with the United Kingdom of 29 October 2019 extending the period under Article 50(3)TEU (OJ L 278I, 30.10.2019, p. 1)."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Decision (EU) 2020/137 of the European Central Bank of 22 January 2020 on the national central banks’ percentage shares in the key for subscription to the European Central Bank’s capital and repealing Decision (EU) 2019/43 (ECB/2020/3) (see page 4 of this Official Journal)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2020/138/introduction",
    "retrieved_at": "2026-11-01T15:12:23.778884+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."
}