Dohoda ze dne 14. prosince 2007 mezi Evropskou centrální bankou a národními centrálními bankami členských států mimo eurozónu, kterou se mění dohoda ze dne 16. března 2006 mezi Evropskou centrální bankou a národními centrálními bankami členských států mimo eurozónu o provozních postupech mechanismu směnných kurzů ve třetí etapě hospodářské a měnové unie

THE EUROPEAN CENTRAL BANK (ECB) AND THE NATIONAL CENTRAL BANKS OF THE MEMBER STATES OUTSIDE THE EURO AREA (HEREINAFTER REFERRED TO AS THE NON-EURO AREA NCBs AND THE NON-EURO AREA MEMBER STATES RESPECTIVELY),

OJ C 73, 25.3.2006, p. 21 .

(1) The European Council in its Resolution of 16 June 1997 (hereinafter referred to as the Resolution) agreed to set up an exchange rate mechanism (hereinafter referred to as ERM II) when the third stage of economic and monetary union (EMU) began on 1 January 1999 .

(2) Under the terms of the Resolution, ERM II is designed to help to ensure that non-euro area Member States participating in ERM II orient their policies to stability, foster convergence and thereby help them in their efforts to adopt the euro.

(3) Cyprus, as a Member State with a derogation, has participated since 2 May 2005 in ERM II; whereas the Central Bank of Cyprus is party to the Agreement of 16 March 2006 between the European Central Bank and the national central banks of the Member States outside the euro area laying down the operating procedures for an exchange rate mechanism in stage three of economic and monetary unionOJ C 73, 25.3.2006, p. 21 . , amended by the Agreement of 21 December 2006 OJ C 14, 20.1.2007, p. 6 (together hereinafter referred to as the ERM II Central Bank Agreement).

(4) Malta, as a Member State with a derogation, has participated since 2 May 2005 in ERM II; whereas the Central Bank of Malta is party to the ERM II Central Bank Agreement.

(5) Pursuant to Article 1 of Council Decision 2007/503/EC of 10 July 2007 in accordance with Article 122(2) of the Treaty on the adoption by Cyprus of the single currency on 1 January 2008 OJ L 186, 18.7.2007, p. 29 . the derogation in favour of Cyprus referred to in Article 4 of the 2003 Act of Accession is abrogated with effect from 1 January 2008 ; whereas the euro will be Cyprus' currency from 1 January 2008 ; whereas the Central Bank of Cyprus should no longer be party to the ERM II Central Bank Agreement from that date.

(6) Pursuant to Article 1 of Council Decision 2007/504/EC of 10 July 2007 in accordance with Article 122(2) of the Treaty on the adoption by Malta of the single currency on 1 January 2008 OJ L 186, 18.7.2007, p. 32 . the derogation in favour of Malta referred to in Article 4 of the 2003 Act of Accession is abrogated with effect from 1 January 2008 ; whereas the euro will be Malta's currency from 1 January 2008 ; whereas the Central Bank of Malta should no longer be party to the ERM II Central Bank Agreement from that date.

(7) It is therefore necessary to amend the ERM II Central Bank Agreement to take account of the abrogation of the derogations in favour of Cyprus and Malta,

1.1 The Central Bank of Cyprus shall no longer be party to the ERM II Central Bank Agreement from 1 January 2008 .

1.2 The Central Bank of Malta shall no longer be party to the ERM II Central Bank Agreement from 1 January 2008 .

Annex II to the ERM II Central Bank Agreement is replaced by the text set out in the Annex to this Agreement.

OJ C 14, 20.1.2007, p. 6

Article 1 Article 1 Amendment to the ERM II Central Bank Agreement in view of the abrogation of a Member State's derogation

Article 2 Article 2 Replacement of Annex II to the ERM II Central Bank Agreement

Article 3 Article 3 Final provisions

OJ L 186, 18.7.2007, p. 29 .

3.1. This Agreement amends, with effect from 1 January 2008 , the ERM II Central Bank Agreement.

3.2. This Agreement shall be drawn up in the English language and duly signed by the parties. The ECB, which shall retain the original Agreement, shall send a certified copy thereof to each euro area and non-euro area NCB. The Agreement shall be published in the Official Journal of the European Union .

OJ L 186, 18.7.2007, p. 32 .

HAVE AGREED AS FOLLOWS: