Order EHA/2288/2011 of 2 August Modifying the Order of 19 May 1987 on the Book Entry System for State Debt

OFFICIAL STATE BULLETIN
No. 198 Thursday 18 August 2011 Sec. I. Page 92908

I. GENERAL PROVISIONS
MINISTRY OF ECONOMY AND FINANCE

13957 Order EHA/2288/2011, of 2 August, modifying the Order of 19 May 1987, which develops Royal Decree 505/1987, of 3 April, establishing the creation of a book entry system for State Debt.

The Order of the Ministry of Economy and Finance of 19 May 1987, which develops Royal Decree 505/1987, of 3 April, establishing the creation of a book entry system for State Debt, having been modified in its Article 2.1 by the Order of the Ministry of Economy of 29 January 2001, establishes that the General State Administration, acting through the Public Treasury, and the General Social Security Treasury shall in all cases have the status of account holders in the Central Book Entry System for State Debt. However, the granting of such status in their own name to other public bodies of the General State Administration is not provided for. It is deemed necessary that this possibility be included in the current legislation, so that such public bodies that have or wish to acquire State Debt can carry out the operations they deem necessary in the Book Entry Public Debt Market without having to act through an intermediary or financial entity. All of this makes it necessary to modify the aforementioned Order to enable access to the status of account holders for public bodies of the General State Administration.

Article 12.12 of Royal Decree 505/1987, of 3 April, establishes that it is the responsibility of the Ministry of Economy and Finance to issue any other provisions and take the measures necessary for the execution of what is provided for in this Royal Decree and to adapt the debt management rules to the characteristics of the debt represented in book entries.

In virtue of the foregoing, I order:

Sole Article. Modification of the Order of the Ministry of Economy and Finance of 19 May 1987, which develops Royal Decree 505/1987, of 3 April, establishing the creation of a book entry system for State Debt.

The wording of the second paragraph is modified and two new paragraphs are added to Article 2.1 of the Order of the Ministry of Economy and Finance of 19 May 1987, which develops Royal Decree 505/1987, of 3 April, establishing the creation of a book entry system for State Debt, in the following terms:

"The General State Administration, acting through the Public Treasury, and the General Social Security Treasury shall in all cases have the status of account holders in the Central Book Entry System for State Debt.

Public bodies of the General State Administration may access the status of account holders in their own name in the Central Book Entry System for State Debt following the procedure established in number 3 of this Article.

Participation in the Book Entry Public Debt Market shall be conducted subject to the operating rules of said market and those established for cash settlement in TARGET2-Bank of Spain."

cve: BOE-A-2011-13957

OFFICIAL STATE BULLETIN
No. 198 Thursday 18 August 2011 Sec. I. Page 92909

Sole Final Provision. Entry into force.
This Order shall enter into force the day following its publication in the Official State Bulletin.

Madrid, 2 August 2011.–The Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance, Elena Salgado Méndez.

cve: BOE-A-2011-13957 http://www.boe.es OFFICIAL STATE BULLETIN D. L.: M-1/1958 - ISSN: 0212-033X