Organisation
Although the ECB is governed by European law directly and thus not by corporate law applying to private law companies, its set-up resembles that of a corporation in the sense that the ECB has shareholders and stock capital. Its capital is five billion euros which is held by the national central banks of the member states as shareholders. The initial capital allocation key was determined in 1998 on the basis of the states' population and GDP, but the key is adjustable. Shares in the ECB are not transferable and cannot be used as collateral.
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All National Central Banks (NCBs) that own a share of the ECB capital stock as of 1 January 2011 are listed below. Non-Euro area NCBs are required to pay up only a very small percentage of their subscribed capital, which accounts for the different magnitudes of Euro area and Non-Euro area total paid-up capital.
| NCB | Capital Key (%) | Paid-up Capital (€) |
|---|---|---|
| Nationale Bank van België / Banque Nationale de Belgique | 2.4256 | 180,157,051.35 |
| Deutsche Bundesbank | 18.9373 | 1,406,533,694.10 |
| Eesti Pank | 0.1790 | 13,294,901.14 |
| Central Bank of Ireland | 1.1107 | 82,495,232.91 |
| Τράπεζα της Ελλάδος (Bank of Greece) | 1.9649 | 145,939,392.39 |
| Banco de España | 8.3040 | 616,764,575.51 |
| Banque de France | 14.2212 | 1,056,253,899.48 |
| Banca d'Italia | 12.4966 | 928,162,354.81 |
| Kεντρική Τράπεζα Κύπρου / Kıbrıs Merkez Bankası (Central Bank of Cyprus) |
0.1369 | 10,167,999.81 |
| Banque centrale du Luxembourg | 0.1747 | 12,975,526.42 |
| Bank Ċentrali ta' Malta | 0.0632 | 4,694,065.65 |
| De Nederlandsche Bank | 3.9882 | 296,216,339.12 |
| Österreichische Nationalbank | 1.9417 | 144,216,254.37 |
| Banco de Portugal | 1.7504 | 130,007,792.98 |
| Banka Slovenije | 0.3288 | 24,421,025.10 |
| Národná banka Slovenska | 0.6934 | 51,501,030.43 |
| Suomen Pankki – Finlands Bank | 1.2539 | 93,131,153.81 |
| Total | 69.9705 | 5,196,932,289.36 |
| Non-Euro area: | ||
| Българска народна банка (Bulgarian National Bank) | 0.8686 | 3,505,013.50 |
| Česká národní banka | 1.4472 | 5,839,806.06 |
| Danmarks Nationalbank | 1.4835 | 5,986,285.44 |
| Latvijas Banka | 0.2837 | 1,144,798.91 |
| Lietuvos bankas | 0.4256 | 1,717,400.12 |
| Magyar Nemzeti Bank | 1.3856 | 5,591,234.99 |
| Narodowy Bank Polski | 4.8954 | 19,754,136.66 |
| Banca Naţională a României | 2.4645 | 9,944,860.44 |
| Sveriges Riksbank | 2.2582 | 9,112,389.47 |
| Bank of England | 14.5172 | 58,580,453.65 |
| Total | 30.0295 | 121,176,379.25 |
Read more about this topic: European Central Bank
Famous quotes containing the word organisation:
“It is because the body is a machine that education is possible. Education is the formation of habits, a superinducing of an artificial organisation upon the natural organisation of the body.”
—Thomas Henry Huxley (1825–1895)