FantasticSearch

Whereas:

(1) Articles 28(1) and 28(2) of the Statute require that the ECB be provided by the national central banks with capital of EUR 5000 million, which is to become operational upon the establishment of the ECB.

(2) Article 28(1) of the Statute provides that the capital may be increased by such amounts as may be decided by the Governing Council of the ECB, within the limits and under the conditions set by the Council.

(3) Article 123(1), in conjunction with Article 107(6) of the Treaty provides that immediately after 1 July 1998 the Council is to adopt the provision referred to in Article 28(1) of the Statute.

(4) This Regulation establishes a limit for future increases in the ECB's capital, thereby enabling the Governing Council of the ECB to decide on an actual increase at some point in the future in order to sustain the adequacy of the capital base needed to support the operations of the ECB, HAS ADOPTED THIS REGULATION: