title: 2011/744/: Decision of the European Central Bank of 3 November 2011 on the implementation of the second covered bond purchase programme (ECB/2011/17)

text:
               16.11.2011

               EN

               Official Journal of the European Union

               L 297/70

         DECISION OF THE EUROPEAN CENTRAL BANK
   of 3 November 2011
   on the implementation of the second covered bond purchase programme
   (ECB/2011/17)
   (2011/744/EU)
   THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,
   Having regard to the Treaty on the Functioning of the European Union and, in particular to the first indent of Article 127(2) thereof,
   Having regard to the Statute of the European System of Central Banks and of the European Central Bank and, in particular to the second subparagraph of Article 12.1 in conjunction with the first indent of Article 3.1, and Article 18.1 thereof,
   Whereas:

               (1)

               In accordance with Article 18.1 of the Statute of the European System of Central Banks and of the European Central Bank (hereinafter the ‘Statute of the ESCB’), the European Central Bank (ECB), together with national central banks of Member States whose currency is the euro (hereinafter the ‘NCBs’) may operate in the financial markets by, among other things, buying and selling marketable instruments outright.

               (2)

               On 7 May 2009 and subsequently on 4 June and 18 June 2009 the Governing Council decided, in view of the exceptional circumstances prevailing in the market at that time, to initiate a covered bond purchase programme (hereinafter the ‘programme’), with an overall targeted nominal amount of EUR 60 billion in accordance with Decision ECB/2009/16 of 2 July 2009 on the implementation of the covered bond purchase programme (1). Under the programme, the NCBs and, exceptionally, the ECB in direct contact with counterparties could according to their allocated share decide to purchase eligible covered bonds outright from eligible counterparties in the primary and secondary markets. Taking into account the Eurosystem’s monetary policy needs and the objectives of the covered bond purchases, the programme was designed as a temporary measure for a 12-month period and expired on 30 June 2010.

               (3)

               The Governing Council has decided that a second covered bond purchase programme (hereinafter the ‘second programme’) should be initiated. The Eurosystem central banks intend to implement the second programme gradually, taking into account market conditions and the Eurosystem’s monetary policy needs. The objectives of the second programme are to contribute to: (a) easing funding conditions for credit institutions and enterprises; and (b) encouraging credit institutions to maintain and expand lending to their clients.

               (4)

               As part of the single monetary policy, the outright purchase of eligible covered bonds by Eurosystem central banks under the second programme should be implemented in a uniform manner, in accordance with this Decision,

         HAS ADOPTED THIS DECISION:
   Article 1
   Establishment and scope of the outright purchase of covered bonds
   The Eurosystem has established the second programme under which the Eurosystem central banks shall purchase eligible covered bonds with a targeted nominal amount of EUR 40 billion. Under the second programme, eligible covered bonds may be purchased by the Eurosystem central banks from eligible counterparties in the primary and secondary markets according to the eligibility criteria contained in this Decision. Guideline ECB/2000/7 of 31 August 2000 on monetary policy instruments and procedures of the Eurosystem (2) shall not apply to the outright purchase of covered bonds by a Eurosystem central bank under the second programme.
   Article 2
   Eligibility criteria for covered bonds
   Covered bonds that are: (a) eligible for monetary policy operations as defined in Guideline ECB/2000/7; (b) denominated in euro; and (c) held and settled in the euro area, shall be eligible for outright purchase under the second programme, provided that they satisfy the following additional requirements:

               1.

               They shall be either: (a) covered bonds issued in accordance with the criteria set out in Article 52(4) of Directive 2009/65/EC (3) (hereinafter the ‘UCITS-compliant covered bonds’); or (b) structured covered bonds offering safeguards similar to UCITS-compliant covered bonds as defined in Section 6.2.3 of Annex I to Guideline ECB/2000/7.

               2.

               Each covered bond issue shall have a minimum issue size of EUR 300 million.

               3.

               The covered bond issue shall have a minimum rating of ‘BBB-’ or equivalent, awarded by at least one of the major rating agencies.

               4.

               The covered bonds shall be issued pursuant to legislation governing covered bonds that is in force in a euro area Member State. In the case of structured covered bonds, the law governing the documentation of the covered bonds shall be the law of a euro area Member State.

               5.

               The covered bond issue shall have a maximum remaining maturity of 10,5 years at the time of the purchase of the security.

         Article 3
   Eligible counterparties
   The following shall be eligible counterparties for the second programme: (a) domestic counterparties participating in Eurosystem monetary policy operations as defined in Section 2.1 of Annex I to Guideline ECB/2000/7; and (b) any other counterparties that are used by Eurosystem central banks for the investment of their euro-denominated investment portfolios.
   Article 4
   Final provisions
   (1)   This Decision shall enter into force on the day following its publication on the ECB’s website.
   (2)   This Decision shall apply until 31 October 2012.

      Done at Frankfurt am Main, 3 November 2011.

            The President of the ECB

         Mario DRAGHI

      (1)  OJ L 175, 4.7.2009, p. 18.

      (2)  OJ L 310, 11.12.2000, p. 1.

      (3)  Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (OJ L 302, 17.11.2009, p. 32).


title: Council Decision 2013/270/CFSP of 6 June 2013 amending Decision 2010/413/CFSP concerning restrictive measures against Iran

text:
               8.6.2013

               EN

               Official Journal of the European Union

               L 156/10

         COUNCIL DECISION 2013/270/CFSP
   of 6 June 2013
   amending Decision 2010/413/CFSP concerning restrictive measures against Iran
   THE COUNCIL OF THE EUROPEAN UNION,
   Having regard to the Treaty on European Union, and in particular Article 29 thereof,
   Having regard to Council Decision 2010/413/CFSP of 26 July 2010 concerning restrictive measures against Iran (1), and in particular Article 23 thereof,
   Whereas:

               (1)

               On 26 July 2010, the Council adopted Decision 2010/413/CFSP.

               (2)

               On 20 December 2012, the United Nations Security Council Committee established pursuant to United Nations Security Council Resolution (UNSCR) 1737 (2006) amended the list of persons and entities subject to the travel ban and asset freeze pursuant to UNSCR 1737 (2006), UNSCR 1747 (2007), UNSCR 1803 (2008) and UNSCR 1929 (2010), adding two entities to that list. Those entities should be included in the list of persons and entities subject to restrictive measures as set out in Annex I to Decision 2010/413/CFSP.

               (3)

               Furthermore, the Council considers that additional entities with ties to entities already listed should be included in the list of persons and entities subject to restrictive measures as set out in Annex II to Decision 2010/413/CFSP.

               (4)

               In addition, the Council considers that the entries concerning certain persons and entities included in Annex II to Decision 2010/413/CFSP should be amended.

               (5)

               There are no longer grounds for keeping certain entities on the list of persons and entities subject to restrictive measures as set out in Annex II to Decision 2010/413/CFSP.

               (6)

               Decision 2010/413/CFSP should therefore be amended accordingly,

         HAS ADOPTED THIS DECISION:
   Article 1
   Annexes I and II to Decision 2010/413/CFSP shall be amended as set out in the Annex to this Decision.
   Article 2
   This Decision shall enter into force on the day of its publication in the Official Journal of the European Union.

      Done at Luxembourg, 6 June 2013.

            For the Council

            The President

         A. SHATTER

      (1)  OJ L 195, 27.7.2010, p. 39.

      ANNEX
      I.   The entities listed below shall be added to the list set out in Annex I to Decision 2010/413/CFSP:

      A.   Persons and entities involved in nuclear or ballistic missiles activities

         Entities

                  (1)

                  Yas Air: Yas Air is the new name for Pars Air, a company that was owned by Pars Aviation Services Company, which in turn was designated by the United Nations Security Council in Resolution 1747 (2007). Yas Air has assisted Pars Aviation Services Company, a United Nations-designated entity, in violating paragraph 5 of Resolution 1747 (2007).
                  Location: Mehrabad International Airport, Next to Terminal No. 6, Tehran, Iran.
                  Date of UN designation: 10.12.2012.

                  (2)

                  SAD Import Export Company: SAD Import Export Company has assisted Parchin Chemical Industries and 7th of Tir Industries, a United Nations-designated entity, in violating paragraph 5 of Resolution 1747 (2007).
                  Location: Haftom Tir Square, South Mofte Avenue, Tour Line No 3/1, Tehran, Iran. (2) P.O. Box 1584864813.
                  Date of UN designation: 10.12.2012.

            II.   The entities listed below shall be added to the list set out in Annex II to Decision 2010/413/CFSP:

      I.   Persons and entities involved in nuclear or ballistic missile activities and persons and entities providing support to the Government of Iran

      B.   Entities

                  Name

                  Identifying information

                  Reasons

                  Date of listing

                  1.

                  Petropars Iran Company (aka: PPI)

                              Address: No. 9,Maaref Street,

                              Farhang Blvd, Saadet Abad,

                              Tehran, Iran.

                              Tel +98-21-22096701- 4.

                              http://www.petropars.com/Subsidiaries/PPI.aspx

                  Subsidiary of designated entity Petropars Ltd

                  8.6.2013

                  2.

                  Petropars Oilfield Services Company (aka: POSCO)

                              Address: Kish harbor,

                              PPI Bldg,

                              Tel +98-764-445 03 05,

                              http://www.petropars.com/Subsidiaries/POSCO.aspx.

                  Subsidiary of designated entity Petropars Iran Company

                  8.6.2013

                  3.

                  Petropars Operation & Management Company (aka: POMC)

                              Address: South Pars Gas,

                              Assaluyeh, Bushehr,

                              Tel +98-772-7363852.

                              http://www.petropars.com/Subsidiaries/POMC.aspx

                  Subsidiary of designated entity Petropars Iran Company

                  8.6.2013

                  4.

                  Petropars Resources Engineering Ltd (aka: PRE)

                              Address: 4th Floor, No. 19, 5th St., Gandi Ave.,

                              Tehran, Iran, 1517646113,

                              Tel +98-21 88888910/13.

                              http://www.petropars.com/Subsidiaries/PRE.aspx

                  Subsidiary of designated entity Petropars Iran Company

                  8.6.2013

                  5.

                  Iranian Oil Company (U.K.) Limited (IOC)

                              Iranian Oil Company (U.K.) Limited, aka IOC.

                              Address: NIOC House 6th Floor,

                              4 Victoria Street,

                              London, United Kingdom,

                              SW1H 0NE

                  IOC is wholly owned by Naftiran Intertrade Company (NICO). NICO is itself designated under EU sanctions because it is wholly owned by the National Iranian Oil Company (NIOC), which is also an EU designated entity because it provides financial resources to the Governmentof Iran. All three Board Directors of IOC as at 18 December 2012 have previously worked for NIOC in a directorship role, further demonstrating the strong link between IOC and NIOC.

                  8.6.2013

            III.   The entries for the persons and entities set out in Annex II to Decision 2010/413/CFSP listed below shall be replaced by the entries below:

                  Name

                  Identifying information

                  Reasons

                  Date of listing

                  1.

                  Sorinet Commercial Trust (SCT) (a.k.a.: SCT Bankers; SCT Bankers Kish Company (PJS); SCT Bankers Company Branch; Sorinet Commercial Trust Bankers)

                              1.

                              Kish Island branch:

                                          SCT Bankers (Kish Branch),

                                          Sadaf Tower, 3rd Floor,

                                          Suite 301,

                                          Kish Island, Iran,

                                          P.O. Box 87

                                          Tel: 09347695504

                                          Branch: UAE – Dubai,

                                          P.O. Box 31988

                                    Alternative address:

                                          Kish Banking Fin Activities Center, No 42, 4th floor,

                                          VC25 Part, Kish Island

                                    BIC: SCERIRTH KSH

                              2.

                              Dubai branch:

                                          SCT Bankers Kish Company (PJS),

                                          Head Office,

                                          Kish Island,

                                          Sadaf Tower, 3rd floor,

                                          Suite 301,

                                          P.O. Box 87

                                          Tel: 09347695504

                                          Branch: UAE – Dubai,

                                          P.O. Box 31988

                                    Alternative address:

                                          Sheykh Admad, Sheykh Zayed Road,

                                          31988 Dubai, UAE

                                    Alternative address:

                                          Branch: No.1808, 18th Floor, Grosvenor House Commercial Tower,

                                          Sheikh Ahmad Sheik Zayed Road,

                                          Dubai, UAE,

                                          P.O. Box 31988

                                          Tel: 0097 14 3257022-99

                                          E-mail: INFO@SCTBankers.com

                                    BIC: SCTSAEA1

                              3.

                              Tehran branch:

                                          SCT Bankers Kish Company (PJS),

                                          Head Office,

                                          Kish Island,

                                          Sadaf Tower, 3rd Floor,

                                          Suite 301,

                                          Kish Island, Iran,

                                          P.O. Box 87

                                          Tel: 09347695504

                                          Branch: UAE – Dubai,

                                          P.O. Box 31988

                                    Alternative address:

                                          Reahi Aiiey, First of Karaj,

                                          Maksous Road 9,

                                          Tehran, Iran

                                    BIC: SCERIRTH

                  Sorinet Commercial Trust (SCT) is assisting designated entities to violate the provisions of the EU regulation on Iran and is providing financial support to the Government of Iran. SCT is part of the Sorinet Group owned and operated by Babak Zanjani. It is being used to channel Iranian oil-related payments.

                  22.12.2012

                  2.

                  Mohammad Moghaddami FARD

                  Date of Birth: 19 July 1956,
                  Passport: N10623175 (Iran) issued 27 March 2007; expires 26 March 2012.

                  Former Regional Director of IRISL in the United Arab Emirates, Managing Director of Pacific Shipping, sanctioned by the European Union, of Great Ocean Shipping Company, alias Oasis Freight Agency, sanctioned by the European Union. Set up Crystal Shipping FZE in 2010 as part of efforts to circumvent EU designation of IRISL.

                  1.12.2011

                  3.

                  Ahmad Sarkandi

                  Born on 30 September 1953, Iranian.

                  Former Financial Director of IRISL since 2011. Formerly executive director of several EU-sanctioned IRISL subsidiaries who set up several front companies in which he is still registered as Managing Director and shareholder.

                  1.12.2011

                  4.

                  Good Luck Shipping Company

                              P.O. Box 8486 – office 206/207,

                              Ahmad Ghubash Building,

                              Oud Mehta,

                              Bur Dubai, UAE.

                  Company acting on behalf of IRISL. Controlled by Mohammad Moghaddami Fard. Good Luck Shipping Company was established to replace the Oasis Freight Company alias Great Ocean Shipping Services, which was sanctioned by the EU and wound up by court order. Good Luck Shipping Company issued false transport documents for IRISL and entities owned or controlled by IRISL. Acts on behalf of EU-designated HDSL and Sapid in the United Arab Emirates. Set up in June 2011 as a result of sanctions, to replace Great Ocean Shipping Services.

                  1.12.2011

                  5.

                  Azores Shipping Company alias Azores Shipping FZE LLC

                              P.O. Box 113740 – Office no 236,

                              Sultan Business Center,

                              Oud Mehta,

                              Dubai, UAE

                  Controlled by Mohammad Moghddami Fard. Provides services for the IRISL subsidiary, EU-designated Valfajre Shipping Company. Front company owned or controlled by IRISL or an IRISL affiliate. It is the registered owner of a vessel owned or controlled by IRISL. Moghddami Fard is a company director.

                  1.12.2011

                  6.

                  Pacific Shipping

                              P.O. Box 127137 – Office no 334,

                              Sultan Business Center,

                              Oud Mehta,

                              Dubai, UAE

                  Acts for IRISL in the Middle East. It is a subsidiary of Azores Shipping Company. Its Managing Director is Mohammad Moghaddami Fard. In October 2010 it was involved in setting up cover companies; the names of the new ones to be used on bills of lading in order to circumvent sanctions. It continues to be involved in the scheduling of IRISL ships.

                  1.12.2011

            IV.   The entities listed below shall be deleted from the list set out in Annex II to Decision 2010/413/CFSP:

                  1.

                  Sad Export Import Company (a.k.a. SAD Import & Export Company)

                  2.

                  Yas Air

                  3.

                  Oasis Freight Agency

                  4.

                  Great Ocean Shipping Services (GOSS)