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Article: ENLARGEMENT WILL LEAD TO INCREASE IN ECB CAPITAL RESERVES.(European Central Bank)(Brief Article)
- Article from:
- Europe-East
- Article date:
- October 24, 2002
CopyrightCOPYRIGHT 2002 Europolitics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Member States are considering two options. The first would involve maintaining capital and reserves at current levels whilst modifying the allocation formula to reflect 27 Member States instead of 15. The second, the ECB's preferred option, also supported by the Member States, would involve an increase in capital and reserves proportionate to the GDP and population of the new Member States.
The ECB's initial capital totals Euro 5 billion in accordance with Article 28 of the Protocol to the Maastricht Treaty on ECB Statutes. However, only the Euro-zone countries have released their contributions. The stake of each central bank is determined to four decimal ...