The Treaty of the European Union, Maastricht Treaty, 7th February, 1992European Union
History
The Treaty of the European Union, Maastricht Treaty, 7th February, 1992
European Union
Europe -- Economic integration; European Union; European federation
institutions or bodies or to national authorities on matters in its fields
of competence.
5. The ESCB shall contribute to the smooth conduct of policies
pursued by the competent authorities relating to the prudential
supervision of credit institutions and the stability of the financial
system.
6. The Council may, acting unanimously on a proposal from the
Commission and after consulting the ECB and after receiving the
assent of the European Parliament, confer upon the ECB specific tasks
concerning policies relating to the prudential supervision of credit
institutions and other financial institutions with the exception of
insurance undertakings.
ARTICLE 105a
1. The ECB shall have the exclusive right to authorize the issue of
bank note within the Community. The ECB and the national central
banks may issue such notes. The bank notes issued by the ECB and
the national central banks shall be the only such notes to have the
status of legal tender within the Community.
2. The Member States may issue coins subject to approval by the ECB
of the volume of the issue. The Council may, acting in accordance with
the procedure referred to in Article 189c and after consulting the ECB,
adopt measures to harmonize the denominations and technical
specifications of all coins intended for circulation to the extent
necessary to permit their smooth circulation within the Community.
ARTICLE 106
1. The ESCB shall be composed of the ECB and of the national central
banks.
2. The ECB shall have legal personality.
3. The ESCB shall be governed by the decision-making bodies of the
ECB which shall be the Governing Council and the Executive Board.
4. The Statute of the ESCB is laid down in a Protocol annexed to this
Treaty.
5. Articles 5.1, 5.2, 5.3, 17, 18, 19.1, 22, 23, 24, 26, 32.2, 32.3. 32.4,
32.6, 33.l(a) and 36 of the Statute of the ESCB may be amended by the
Council, acting either by a qualified majority on a recommendation
from the ECB and after consulting the Commission or unanimously on
a proposal from the Commission and after consulting the ECB. In
either case, the assent of the European Parliament shall be required.
6. The Council, acting by a qualified majority either on a proposal from
the Commission and after consulting the European Parliament and the
ECB or on a recommendation from the ECB and after consulting the
European Parliament and the Commission, shall adopt the provisions
referred to in Articles 4, 5.4, 19.2, 20, 28-1, 29.2, 30.4 and 34.3 of the
Statute of the ESCB.
ARTICLE 107
When exercising the powers and carrying out the tasks and duties
conferred upon them by this Treaty and the Statute of the ESCB,
neither the ECB, nor a national central bank, nor any member of their
decision-making bodies shall seek or take instructions from
Community institutions or bodies, from any government of a Member
State or from any other body. The Community institutions and bodies
and the governments of the Member States undertake to respect this
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