ital subscription
29.1. When in accordance with the procedure referred to in Article
109l(1) of this Treaty the ESCB and the ECB have been established,
the key for subscription of the ECB's capital shall be established.
Each national central bank shall be assigned a weighting in this key
which shall be equal to the sum of:
- 50% of the share of its respective Member State in the population of
the Community in the penultimate year preceding the establishment of
the ESCB;
- 50% of the share of its respective Member State in the gross
domestic product at market prices of the Community as recorded in the
last five years preceding the penultimate year before the
establishment of the ESCB;
The percentages shall be rounded up to the nearest multiple 0.05
percentage points.
29.2 The statistical data to be used for the application of this Article
shall be provided by the Commission in accordance with the rules
adopted by the Council under the procedure provided for in Article 42.
29.3. The weighting assigned to the national central banks shall be
adjusted every five years after the establishment of the ESCB by
analogy with the provisions laid down in Article 29.1. The adjusted key
shall apply with effect from the first day of the following year.
29.4. The Governing Council shall take all other measures necessary
for the application of this Article.
ARTICLE 30
Transfer of foreign reserve assets to the ECB
30.1. Without prejudice to Article 28, the ECB shall be provided by the
national central banks with foreign reserve assets, other than Member
States' currencies, ECUs, IMF reserve positions and SDRs, up to an
amount equivalent to ECU 50 000 million. The Governing Council shall
decide upon the proportion to be called up by the ECB following its
establishment and the amounts called up at later dates. The ECB shall
have the full right to hold and manage the foreign reserves that are
transferred to it and to use them for the purposes set out in this
Statute.
30.2. The contributions of each national central bank shall be fixed in
proportion to its share in the subscribed capital of the ECB.
30.3. Each national central bank shall be credited by the ECB with a
claim equivalent to its contribution. The Governing Council shall
determine the denomination and remuneration of such claims.
30.4. Further calls of foreign reserve assets beyond the limit set in
Article 30.1. may be effected by the ECB, in accordance with Article
30.2, with