HC Deb 20 May 2002 vol 386 c105W
Mr. Rosindell

To ask the Chancellor of the Exchequer if he will make a statement on the reasons underlying Council Regulation 134/2002, on minimum reserves of the European central bank. [57909]

Ruth Kelly

Council Regulation (EC) 134/2002 amends Council Regulation (EC) 2351/98, on the application of minimum reserves by the European central bank, by increasing the period available to the ECB Governing Council to review decisions by the ECB executive board to impose sanctions for non-compliance with minimum reserve requirements.

Neither Regulation 134/2002, nor Regulation 2351/98, applies to the United Kingdom.