Regulation BCL 2009/N°2 of 27 January 2009 modifying the Eurosystem monetary policy instruments and procedures

BANQUE CENTRALE DU LUXEMBOURG
Regulation of the Banque centrale du Luxembourg 2009/N° 2 of 27 January 2009 modifying the Eurosystem monetary policy instruments and procedures

Domain: Implementation of monetary policy in the euro area

The Directorate of the Banque centrale du Luxembourg,

Having regard to Article 108 bis of the Constitution;

Having regard to Article 34 (1) of the law of 23 December 1998 on the monetary status and the Banque centrale du Luxembourg, as amended by Article V (4) of the law of 24 October 2008;

Having regard to the Treaty establishing the European Community, and in particular Article 105, paragraph 2, first indent;

Having regard to Article 2 (2) of the amended law of 23 December 1998 on the monetary status and the Banque centrale du Luxembourg;

Having regard to the Guideline of the European Central Bank of 23 October 2008 modifying Guideline ECB/2000/7 on the instruments and procedures of monetary policy of the Eurosystem (ECB/2008/13);

Considering that the modifications contained in the said Guideline apply from 1 February 2009;

Considering that the purpose of this regulation is to establish a transitional regime pending the overhaul of the General Conditions of the Banque centrale du Luxembourg's operations.

2

Decides:

Art. 1

(1) The provisions of the Guideline of the European Central Bank of 23 October 2008 modifying Guideline ECB/2000/7 on the instruments and procedures of monetary policy of the Eurosystem (ECB/2008/13), as it appears in the annex to this regulation, are mandatory for the counterparties of the Banque centrale du Luxembourg.

(2) In the event of a divergence between this regulation and the General Conditions of the Banque centrale du Luxembourg's operations, the former shall prevail. The Banque centrale du Luxembourg continues to apply all the provisions of the General Conditions of the Banque centrale du Luxembourg's operations without modification, unless contrary provisions are provided for in this regulation.

(3) The coordinated version of the General Conditions of the Banque centrale du Luxembourg's operations including the provisions of this regulation remains applicable until the replacement of the General Conditions of the Banque centrale du Luxembourg's operations by a new regulation of the Banque centrale du Luxembourg. The coordinated version is published on the Internet site of the Banque centrale du Luxembourg.

Art. 2. Entry into force

This regulation enters into force on the day of its publication.

Art. 3. Publication arrangements

This regulation shall be published in the Mémorial and on the Internet site of the Banque centrale du Luxembourg.

Annex:
Guideline of the European Central Bank of 23 October 2008 modifying Guideline ECB/2000/7 on the instruments and procedures of monetary policy of the Eurosystem (ECB/2008/13)

BANQUE CENTRALE DU LUXEMBOURG
The Directorate
Serge Kolb Andrée Billon Yves Mersch
General Director