Key for capital subscription Sample Clauses

Key for capital subscription. 29.1 The key for subscription of the ECB's capital, fixed for the first time in 1998 when the ESCB was established, shall be determined by assigning to each national central bank a weighting in this key equal to the sum of: — 50 % of the share of its respective Member State in the population of the Union 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 Union as recorded in the last five years preceding the penultimate year before the establishment of the ESCB. The percentages shall be rounded up or down to the nearest multiple of 0,0001 percentage points.
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Key for capital 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 of 0.05 percentage points.
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Related to Key for capital subscription

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