Regulation BCL 2009/N°3 of 19 February 2009 amending the Eurosystem monetary policy instruments and procedures

BANQUE CENTRALE DU LUXEMBOURG
Regulation of the Central Bank of Luxembourg 2009/N° 3 of 19 February 2009 amending the Eurosystem monetary policy instruments and procedures

Domain: Implementation of monetary policy in the euro area

The Directorate of the Central Bank of 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 Central Bank of 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 Central Bank of Luxembourg;

Having regard to the European Central Bank Guideline of 20 January 2009 amending Guideline ECB/2000/7 on the instruments and procedures of monetary policy of the Eurosystem (ECB/2009/1);

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

Considering that the purpose of this Regulation is to establish a transitional regime pending the overhaul of the General Conditions of Operations of the Central Bank of Luxembourg.

HEREBY ADOPTS:

Art. 1

(1) The provisions of the European Central Bank Guideline of 20 January 2009 amending Guideline ECB/2000/7 on the instruments and procedures of monetary policy of the Eurosystem (ECB/2009/1), as set out in the Annex to this Regulation, shall be binding on the counterparties of the Central Bank of Luxembourg.

(2) In the event of divergence between this Regulation and the General Conditions of Operations of the Central Bank of Luxembourg, the former shall prevail. The Central Bank of Luxembourg shall continue to apply all provisions of the General Conditions of Operations of the Central Bank of Luxembourg without modification, unless contrary provisions are provided for in this Regulation.

(3) The coordinated version of the General Conditions of Operations of the Central Bank of Luxembourg including the provisions of this Regulation shall remain applicable until the replacement of the General Conditions of Operations of the Central Bank of Luxembourg by a new Regulation of the Central Bank of Luxembourg. The coordinated version shall be published on the website of the Central Bank of Luxembourg.

Art. 2. Entry into force
This Regulation shall enter into force on the day of its publication.

Art. 3. Publication
This Regulation shall be published in the Mémorial and on the website of the Central Bank of Luxembourg.

Annex:
European Central Bank Guideline of 20 January 2009 amending Guideline ECB/2000/7 on the instruments and procedures of monetary policy of the Eurosystem (ECB/2009/1)

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