THE EXECUTIVE BOARD OF THE EUROPEAN CENTRAL BANK,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 128(2) thereof,
Having regard to Decision (EU) 2015/2332 of the European Central Bank of 4 December 2015 on the procedural framework for the approval of the volume of euro coin issuance (ECB/2015/43)(1), and in particular Article 3(7) thereof,
Whereas:
The European Central Bank (ECB) has the exclusive right since 1 January 1999 to approve the volume of coins issued by the Member States whose currency is the euro.
Based on the estimates of demand for euro coins in 2023 that the Member States whose currency is the euro submitted to the ECB, the ECB approved the total volume of euro coins intended for circulation and euro collector coins not intended for circulation in 2023 in Decision (EU) 2022/2278 of the European Central Bank (ECB/2022/40)(2).
Pursuant to Article 3 of Decision (EU) 2015/2332 (ECB/2015/43), Member States whose currency is the euro must notify the ECB if the actual demand for euro coins is likely to exceed the approved volume of coin issuance in a calendar year and, where the increased coin demand continues, must request ad hoc approval for an additional volume of coin issuance in that calendar year.
On 31 July 2023, the ECB received a request from the Oesterreichische Nationalbank on behalf of Austria to increase the volume of euro circulation coins that Austria may issue in 2023 by an additional volume of EUR 35,00 million, from EUR 81,00 million to EUR 116,00 million. The total volume of euro coins issuance for Austria in 2023 will accordingly rise to EUR 291,51 million, comprising EUR 116,00 million in circulation coins and EUR 175,51 million in collector coins. The request was made in response to the stronger euro coin demand in cash-intensive sectors, especially for high value euro coins, accompanied by ad hoc euro coin demand from wholesale banks active in Austria and increased cross-border coin demand from neighbouring countries.
Pursuant to Article 3(7) of Decision (EU) 2015/2332 (ECB/2015/43) the Executive Board must adopt an individual decision on the ad hoc approval request, when no modification to the ad hoc request is required.
Therefore, Decision (EU) 2022/2278 (ECB/2022/40) should be amended accordingly,
HAS ADOPTED THIS DECISION:
The table in Article 2 of Decision (EU) 2022/2278 (ECB/2022/40) is amended as follows:
the row regarding Austria is replaced by the following:
‘Austria
116,00
175,51
291,51 ’;
the row entitled ‘Total’ is replaced by the following:
‘Total
2 135,94
496,18
2 632,12 ’.
This Decision shall take effect on the day of its notification to the addressees.
This Decision is addressed to the Member States whose currency is the euro.
Done at Frankfurt am Main, 12 September 2023.
For the Governing Council of the ECB
The President of the ECB
Christine Lagarde