council regul ec decemb definit applic prohibit refer articl treati council european union regard treati establish european commun articl thereof regard propos commiss cooper european parliament articl treati directli applic term featur articl term overdraft facil type credit facil articl treati defin refer treatment claim exist januari desir nation central bank particip stage econom monetari union enter union balanc sheet claim negoti market condit give requir flexibl monetari polici european system central bank permit standard contribut nation central bank particip monetari union monetari incom distribut central bank januari hold claim public sector negoti subject condit market condit author subsequ convert claim negoti fix matur secur market condit paragraph protocol provis relat unit kingdom great britain northern ireland stipul govern unit kingdom maintain wai mean facil bank england long unit kingdom move stage make provis convers amount facil market debt fix matur market term unit kingdom move stage emu protocol portug lai portug author maintain facil afford autonom region azor madeira benefit interest free credit facil banco de portug term establish exist portugues law portug commit pursu endeavour order put end abovement facil member state measur ensur prohibit refer articl treati appli effect fulli purchas made secondari market circumv object articl limit laid regul direct acquisit central bank member state market debt instrument issu public sector member state shield public sector disciplin market mechan purchas conduct sole purpos manag foreign exchang reserv notwithstand role assign commiss pursuant articl treati european monetari institut european central bank pursuant articl treati ensur nation central bank honour oblig laid treati intra dai credit central bank assist smooth oper payment system intra dai credit public sector compat object articl treati provid extens dai function fiscal agent exercis central bank imped clear central bank chequ issu parti public sector account occasion involv credit articl treati regard prohibit oper provid result credit public sector hold central bank coin issu public sector credit public sector constitut interest free form credit public sector limit amount involv practic interfer principl articl treati view difficulti aris total prohibit form credit permit limit laid regul unif feder republ germani difficulti compli limit set asset circumst author higher percentag limit period financ central bank oblig fall public sector vi vi intern monetari fund result implement medium term financi assist facil set commun result foreign claim characterist reserv asset author public undertak cover prohibit articl defin commiss direct eec june transpar financi relat member state public undertak adopt regul articl purpos articl treati overdraft facil mean provis fund public sector result result debit balanc type credit facil mean claim public sector exist januari fix matur claim acquir date ii financ public sector oblig vi vi parti iii prejudic articl treati transact public sector result result claim sector regard debt instrument mean articl treati secur acquir public sector ensur convers negoti fix matur secur market condit fix matur claim acquir januari negoti market condit provid matur secur subsequ aforement claim amount wai mean facil maintain unit kingdom govern bank england date unit kingdom move stage emu articl stage emu purchas nation central bank member state market debt instrument issu public sector member state consid direct purchas mean articl treati provid purchas conduct sole purpos manag foreign exchang reserv stage emu purchas conduct sole purpos manag foreign exchang reserv consid direct purchas mean articl treati purchas nation central bank member state particip stage emu public sector member state market debt instrument purchas european central bank nation central bank member state particip stage emu public sector member state particip stage market debt instrument articl purpos regul public sector mean commun institut bodi central govern region local public author bodi govern public law public undertak member state nation central bank mean central bank member state luxembourg monetari institut articl intra dai credit european central bank nation bank public sector consid credit facil mean articl treati provid remain limit dai extens articl european central bank nation central bank receiv public sector collect chequ issu parti credit public sector account drawe bank debit oper consid credit facil mean articl treati fix period time normal period collect chequ central bank member state concern elaps receipt chequ provid float aris except small amount averag short term articl hold european central bank nation central bank coin issu public sector credit public sector regard credit facil mean articl treati amount asset remain coin circul decemb figur germani articl financ european central bank nation central bank oblig fall public sector vi vi intern monetari fund result implement medium term financi assist facil set regul eec regard credit facil mean articl treati articl purpos articl treati public undertak defin undertak state region local author directli indirectli exercis domin influenc virtu ownership financi particip rule govern domin influenc part public author presum author directli indirectli relat undertak hold major part undertak subscrib capit control major vote attach share issu undertak appoint half member undertak administr manageri supervisori bodi purpos articl treati european central bank nation central bank form part public sector articl regul enter forc januari regul bind entireti directli applic member state brussel decemb council presid ph maystadt oj oj oj decis decemb publish offici journal oj direct amend direct eec oj council regul eec june establish singl facil provid medium term financi assist member state balanc payment oj