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Decision (EU) 2020/1736 of the European Central Bank of 12 November 2020 amending Decision (EU) 2015/298 on the interim distribution of the income of the European Central Bank (ECB/2020/56)

EU Decision 2020/1736 · Adopted 12 November 2020 · Extends to United Kingdom

Original text. legislation.gov.uk does not revise this item, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Decision (EU) 2020/1736 of the European Central Bank

of 12 November 2020

amending Decision (EU) 2015/298 on the interim distribution of the income of the European Central Bank (ECB/2020/56)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 33 thereof,

Whereas:

(1)

Decision (EU) 2020/440 of the European Central Bank (ECB/2020/17)f1 establishes a temporary pandemic emergency purchase programme (PEPP) for monetary policy purposes. Provision needs to be made for the interim distribution of the European Central Bank’s income from the PEPP in Decision (EU) 2015/298 of the European Central Bank (ECB/2014/57)f2.

(2)

Therefore, Decision (EU) 2015/298 (ECB/2014/57) should be amended accordingly,

HAS ADOPTED THIS DECISION:

Annotations to the whole text

Footnotes

f1

Decision (EU) 2020/440 of the European Central Bank of 24 March 2020 on a temporary pandemic emergency purchase programme (ECB/2020/17) (OJ L 91, 25.3.2020, p. 1).

f2

Decision (EU) 2015/298 of the European Central Bank of 15 December 2014 on the interim distribution of the income of the European Central Bank (ECB/2014/57) (OJ L 53, 25.2.2015, p. 24).

Contents

  1. 1Amendment
  2. 2Entry into force
  3. Signature

1Amendment

Point (d) of Article 1 of Decision (EU) 2015/298 (ECB/2014/57) is replaced by the following:

  1. (d)

    ‘“ECB’s income arising from securities” means the net income arising from purchases by the ECB of securities: (i) under the SMP in accordance with Decision ECB/2010/5 of the European Central Bankf1; (ii) under the CBPP3 in accordance with Decision (EU) 2020/187 of the European Central Bank (ECB/2020/8)f2; (iii) under the ABSPP in accordance with Decision ECB/2014/45; (iv) under the secondary markets public sector asset purchase programme (PSPP) in accordance with Decision (EU) 2020/188 of the European Central Bank (ECB/2020/9)f3; and (v) under the pandemic emergency purchase programme (PEPP) in accordance with Decision (EU) 2020/440 of the European Central Bank (ECB/2020/17)f4.’.

2Entry into force

This Decision shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

It shall apply from 31 December 2020.

Signature

Done at Frankfurt am Main, 12 November 2020.

The President of the ECB

Christine Lagarde