7.11.2006 Official Journal of the European Union L 306/15 REGULATION (EC) No 1637/2006 OF THE EUROPEAN CENTRAL BANK of 2 November 2006 concerning transitional provisions for the application of minimum reserves by the European Central Bank following the introduction of the euro in Slovenia (ECB/2006/15) 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 and in particular to Article 19(1) and the first indent of Article 47(2) thereof, Having regard to Council Regulation (EC) No 2531/98 of 23 November 1998 concerning the application of minimum reserves by the European Central Bank (1), Having regard to Regulation (EC) No 1745/2003 (ECB/2003/9) of 12 September 2003 on the application of minimum reserves (%), Having regard to Council Regulation (EC) No 2532/98 of 23 November 1998 concerning the powers of the European Central Bank to impose sanctions (), Having regard to Council Regulation (EC) No 2533/98 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, Having regard to Regulation (EC) No 2423/2001 (ECB/2001/13) of 22 November 2001 concerning the conso- lidated balance sheet of the monetary financial institutions sector (%) Whereas: (1) The introduction of the euro by Slovenia on 1 January 2007 means that credit institutions and branches of credit institutions located in Slovenia will be subject to reserve requirements from that date. (2)  The integration of these entities into the minimum reserve system of the European Central Bank (ECB) L 318, 27.11.1998, p. 1. Regulation as amended by Regulation ) No 134/2002 (O] L 24, 26.1.2002, p. 1). () O] L 250, 2.10.2003, p. 10. A) L 318, 27.11.1998, p. 4. () O] L 318, 27.11.1998, p. 8. ) lation (EC) No 2181/2004 (ECB[2004/21) (O] L 371, 18.12.2004, p. 42). requires the adoption of transitional provisions in order to ensure smooth integration without creating a dispro- portionate burden for credit institutions in participating Member States, including Slovenia. (3)  Atticle 5 of the Statute in conjunction with Article 10 of the Treaty establishing the European Community implies an obligation for Member States to design and implement at national level all the appropriate measures to collect the statistical information needed to fulfil the statistical reporting requirements of the ECB and to ensure timely preparation in the field of statistics to adopt the euro, HAS ADOPTED THIS REGULATION: Article 1 Definitions For the purposes of this Regulation, the terms ‘institution’, ‘reserve requirement’, ‘maintenance period’, ‘reserve base’, and ‘participating Member State’ have the same meaning as in Regu- lation (EC) No 1745/2003 (ECB/2003/9). Atticle 2 Transitional provisions for institutions located in Slovenia 1. In derogation from Article 7 of Regulation (EC) No 1745/2003 (ECB/2003/9), a transitional maintenance period shall run from 1 to 16 January 2007 for institutions located in Slovenia. 2. The reserve base of each institution located in Slovenia for the transitional maintenance period shall be defined in relation to elements of its balance sheet as at 31 October 2006. Insti- tutions located in Slovenia shall report their reserve base to Banka Slovenije in accordance with the ECB’s reporting framework for money and banking statistics, as laid down in Regulation (EC) No 2423/2001 (ECB/2001/13). Institutions located in Slovenia that benefit from the derogation under Article 2(2) of Regulation (EC) No 24232001 (ECB/2001/13) shall calculate a reserve base for the transitional maintenance period on the basis of their balance sheet as at 30 September 2006.