In certain cases, the cooperation could consolidate or extend the dominant position of the TOs concerned to a non-reserved services market, in violation of Article 86.

the translation differences included in consolidated reserves in accordance with Article 39(6) of Directive 86/635/EEC,

Where the calculation is to be made on a consolidated basis, the consolidated amounts relating to the items listed under Article 34(2) shall be used in accordance with the rules laid down in Articles 52 to 56. Moreover, the following may, when they are credit ('negative') items, be regarded as consolidated reserves for the calculation of own funds:

(69) For institutions allowed to report statistical data as a group on a consolidated basis according to the provisions of the reporting framework for the ECB's money and banking statistics (see Annex 4), only one such allowance will be granted to the group as a whole, unless the institutions provide data on the reserve base and reserve holdings in a sufficiently detailed manner to enable the Eurosystem to verify their accuracy and quality and to determine the respective reserve requirement of each individual institution included in the group.

Whereas, by Decision 94/346/EC (3), the Council approved macro-financial assistance for Moldova of up to ECU 45 million; whereas, however, further official support is required in order to support the balance of payments, consolidate the reserve position and comfort the necessary structural reforms in this country,

Regulation ECB/2000/8 of 31 August 2000 amending Regulation (EC) No 2818/98 on the application of minimum reserves (ECB/1998/15) and amending Regulation (EC) No 2819/98 of the European Central Bank concerning the consolidated balance sheet of the mone t ary financial institution sector (ECB/1998/16), OJ L 229, 9.9.2000, p. 34.

An institution` s reserve base shall comprise the following liabilities (as defined within the ECB` s reporting framework for money and banking statistics in Regulation ECB/2001/13 of 22 November 2001 concerning the consolidated balance sheet of the monetary financial institutions sector fn ) resulting from the acceptance of funds:

On receiving authorisation from the European Central Bank (ECB), credit institutions subject to minimum reserves may carry out consolidated statistical reporting for a group of credit institutions subject to minimum reserves within a single national territory, provided that all the institutions concerned have renounced the benefit of any lump-sum allowance from the reserve requirement.

Institutions allowed to report statistical data as a group on a consolidated basis (as defined within the reporting framework for the money and banking statistics of the ECB, which is laid down in Regulation (EC) No 2819/98) must, subject to the provisions contained in Article 10, hold minimum reserves through one of the institutions in the group which is acting as intermediary exclusively for these institutions.

Reserve holding on a consolidated basis

WHERE AN ASSOCIATED UNDERTAKING DRAWS UP CONSOLIDATED ACCOUNTS , THE FOREGOING PROVISIONS SHALL APPLY TO THE CAPITAL AND RESERVES SHOWN IN SUCH CONSOLIDATED ACCOUNTS.

ANY DIFFERENCE ARISING UNDER PARAGRAPH 1 ABOVE SHALL BE ADDED TO OR DEDUCTED FROM CONSOLIDATED RESERVES AS APPROPRIATE.

Moreover, the following may, when they are credit ("negative") items, be regarded as consolidated reserves for the calculation of own funds:

WHERE AN UNDERTAKING IN WHICH A PARTICIPATING INTEREST WITHIN THE MEANING OF PARAGRAPH 1 ABOVE IS HELD DRAWS UP CONSOLIDATED ACCOUNTS , THE FOREGOING PARAGRAPHS SHALL APPLY TO THE CAPITAL AND RESERVES SHOWN IN SUCH CONSOLIDATED ACCOUNTS.

In certain cases, the cooperation could consolidate or extend the dominant position of the TOs concerned to a non-reserved services market, in violation of Article 86.

FOR THE PURPOSES OF ARTICLE 30 (2) , PERMIT THE DEDUCTION TO BE MADE FROM RESERVES AS AT THE DATE OF THE FIRST CONSOLIDATED ACCOUNTS DRAWN UP IN ACCORDANCE WITH THIS DIRECTIVE.

whereas, however, further official support is required in order to support the balance of payments, consolidate the reserve position and comfort the necessary structural reforms in this country;

The Member States may require or permit translation differences arising on consolidation out of the retranslation of an affiliated undertaking's capital and reserves or the share of a participating interest's capital and reserves at the beginning of the accounting period to be included, in whole or in part, in consolidated reserves, together with the translation differences arising on the translation of any transactions undertaken to cover that capital and those reserves.

THE DIFFERENCE BETWEEN THAT VALUE AND THE AMOUNT CORRESPONDING TO THE PROPORTION OF CAPITAL AND RESERVES REPRESENTED BY THAT PARTICIPATING INTEREST SHALL BE DISCLOSED SEPARATELY IN THE CONSOLIDATED BALANCE SHEET OR IN THE NOTES ON THE ACCOUNTS.

Until the entry into force of a Council Directive on consolidated accounts, the Member States need not apply to the dominant companies of groups governed by their national laws the provisions of Article 43 (1) (2) concerning the amount of capital and reserves and the profits and losses of the undertakings concerned if the annual accounts of such undertakings are consolidated into the group's annual accounts or if the holdings in those undertakings are valued by the equity method.

Regulation ECB/2000/8 of 31 August 2000 amending Regulation (EC) No 2818/98 on the application of minimum reserves (ECB/1998/15) and amending Regulation (EC) No 2819/98 of the European Central Bank concerning the consolidated balance sheet of the monetary financial institution sector (ECB/1998/16) (OJ L 229, 9.9.2000, p. 34).

When a parent company and its subsidiaries are MFIs located in the same national territory, the parent company is permitted to consolidate in its statistical returns the business of these subsidiaries, keeping however the business of credit institutions and other MFIs separate, for the purposes of the ESCB minimum reserve system.

The items of information listed below must be given in any event for every undertaking in which the issuer has a direct or indirect participating interest, if the book value of that participating interest represents at least 10 % of the capital and reserves or accounts for at least 10 % of the net profit or loss of the issuer or, in the case of a group, if the book value of that participating interest represents at least 10 % of the consolidated net assets or accounts for at least 10 % of the consolidated net profit or loss of the group.

The items of information listed below must be given in any event for every undertaking in which the issuer has a direct or indirect participating interest, if the book value of that participating interest represents at least 10 % of the capital and reserves or accounts for at least 10 % of the net profit or loss of the issuer, or in the case of a group, if the book value of that participating interest represents at least 10 % of the consolidated net assets or accounts for at least 10 % of the consolidated net profit or loss of the group.

Member States should therefore provide the Commission with a consolidated report showing the full details of the direct or indirect aid which they plan to grant to the coal industry, specifying the reasons for and scope of the proposed aid, its relationship with a plan for accessing coal reserves and, where appropriate, any closure plan submitted.

WITHOUT PREJUDICE TO ARTICLE 19 (2) , HOWEVER , THE ITEMS " CAPITAL " , " SHARE PREMIUM ACCOUNT " , " REVALUATION RESERVE " , " RESERVES " , " PROFIT OR LOSS BROUGHT FORWARD " , AND " PROFIT OR LOSS FOR THE FINANCIAL YEAR " TO BE INCLUDED IN THE CONSOLIDATED ACCOUNTS SHALL BE THE AGGREGATE AMOUNTS ATTRIBUTABLE TO EACH OF THE UNDERTAKINGS SPECIFIED IN PARAGRAPH 1.

An institution's reserve base shall comprise the following liabilities (as defined within the ECB's reporting framework for money and banking statistics in Regulation (EC) No 2423/2001 of the European Central Bank of 22 November 2001 concerning the consolidated balance sheet of the monetary financial institutions sector (ECB/2001/13)(9)) resulting from the acceptance of funds:

Institutions allowed to report statistical data as a group on a consolidated basis (as defined within the ECB's reporting framework for money and banking statistics in Regulation (EC) No 2423/2001 (ECB/2001/13)) must hold minimum reserves through one of the institutions in the group which is acting as intermediary exclusively for these institutions and in accordance with the provisions in Article 10.

The reserve base of an institution shall comprise the following liabilities (as defined within the reporting framework for the money and banking statistics of the ECB, which is laid down in Regulation (EC) No 2819/98 of the European Central Bank of 1 December 1998 concerning the consolidated balance sheet of the monetary financial institutions sector (ECB/1998/16)) (5) resulting from the acceptance of funds:

WHEN , FOR THE FIRST TIME , CONSOLIDATED ACCOUNTS ARE DRAWN UP IN ACCORDANCE WITH THIS DIRECTIVE FOR A BODY OF UNDERTAKINGS WHICH WAS ALREADY CONNECTED , AS DESCRIBED IN ARTICLE 1 (1) , BEFORE APPLICATION OF THE PROVISIONS REFERRED TO IN ARTICLE 49 (1) , A MEMBER STATE MAY REQUIRE OR PERMIT THAT , FOR THE PURPOSES OF ARTICLE 19 (1) , ACCOUNT BE TAKEN OF THE BOOK VALUE OF A HOLDING AND THE PROPORTION OF THE CAPITAL AND RESERVES THAT IT REPRESENTS AS AT A DATE BEFORE OR THE SAME AS THAT OF THE FIRST CONSOLIDATION.