L 229/34 Official Journal of the European Communities 9.9.2000 REGULATION (EC) No 1921/2000 OF THE EUROPEAN CENTRAL BANK of 31 August 2000 amending Regulation (EC) No 2818/98 of the European Central Bank on the application of minimum reserves (ECB/1998/15) and amending Regulation (EC) No 2819/98 of the European Central Bank concerning the consolidated balance sheet of the monetary financial institutions sector (ECB[1998/16) (ECB/2000/8) THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK, Having regard to the Statute of the European System of Central Banks and of the European Central Bank (hereinafter referred to as the ‘Statute’) and in particular to Article 19.1 thereof, Having regard to Council Regulation (EC) No 253198 of 23 November 1998 concerning the application of minimum reserves by the European Central Bank ('), and in particular to Article 6(4) thereof, and to Council Regulation (EC) No 2532/ 98 of 23 November 1998 concerning the powers of the Euro- pean Central Bank to impose sanctions (?), Having regard to Council Regulation (EC) No 253398 of 23 November 1998 concerning the collection of statistical infor- mation by the European Central Bank (%), and in particular to Articles 5(1) and 6(4) thereof, Whereas: Regulation (EC) No 281898 of the European Central Bank of 1 December 1998 on the application of minimum reserves (ECB/1998/15) (*) and ECB Regulation (EC) No 2819/98 of the European Central Bank of 1 December 1998 concerning the consolidated balance sheet of the monetary financial institu- tions sector (ECB[1998/16) (®) should be amended for the following reasons: 1. in order to facilitate the liquidity management of the Euro- pean Central Bank and of credit institutions, reserve require- ments should be confirmed at the latest on the first day of the maintenance period; 2. the need may exceptionally arise for credit institutions to report revisions to the reserve base or to reserve require- ments which have been confirmed; 3. the procedures for confirmation or acknowledgement of reserve requirements are without prejudice to the obligation for reporting agents always to report correct statistical infor- mation and to revise incorrect statistical information they may have already reported; 4. the determination of specific procedures for mergers and divisions involving credit institutions is necessary in order to clarify the obligations of these institutions in respect of reserve requirements; () O] L 318, 27.11.1998, () O] L 318, 27.11.1998, () O] L 318, 27.11.1998, (% O] L 356, 30.12.1998, () O] L 356, 30.12.1998, TERET N =00 B 5. the definitions of mergers and divisions laid down in this Regulation are based on definitions already existing in secondary European Community legislation relating to public limited liability companies; Whereas these definitions have been adapted to the purposes of this Regulation; 6. these procedures do not prejudice the possibility of holding minimum reserves through an intermediary, HAS ADOPTED THIS REGULATION: Article 1 Regulation (EC) No 2818/98 of the European Central Bank is amended as follows: 1. The following definitions are inserted at the end of Article 1: ‘— “merger” shall mean an operation whereby one or more credit institutions (the “merging institutions”), on being dissolved without going into liquidation, transfer all their assets and liabilities to another credit institu- tion (the “acquiring institution”), which may be a newly established credit institution; — “division” shall mean an operation whereby one credit institution (the “institution being divided”), on being dissolved without going into liquidation, transfers all its assets and liabilities to more than one institution (the “recipient institutions”), which may be newly established credit institutions.’ 2. Article 3(3) is replaced by the following: ‘3. The reserve base in respect of a particular mainte- nance period shall be calculated by the institution on the basis of the data relating to the month preceding the month within which the maintenance period starts. The reserve base shall be reported by the institution to the relevant participating national central bank (NCB) before the start of the relevant maintenance period as required within the reporting framework for the money and banking statistics of the ECB, which is laid down in Regulation (EC) No 2819/98 of the European Central Bank of 1 December 1998 concerning the consolidated balance sheet of the monetary financial institutions sector (ECB[/1998/16) (¥).