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Council Regulation (EC) No 2531/98 of 23 November 1998 concerning the application of minimum reserves by the European Central Bank article 1 CELEX: 01998R2531-20020126 Definitions
For the purposes of this Regulation:
1. ‘participating Member State’ shall mean a Member State which has adopted the single currency in accordance with the Treaty;
2. ‘national central bank’ shall mean the central bank of a participating Member State;
3. ‘institution’ shall mean any entity in a participating Member State which, under the terms of Article 19.1 of the Statute, the ECB may require to hold minimum reserves;
4. ‘reserve ratio’ shall mean such percentage of the basis for minimum reserves as the ECB may specify in accordance with Article 19.1 of the Statute;
5. ‘sanctions’ shall mean fines, periodic penalty payments, penalty interest and non-interest-bearing deposits. |