All other operations in foreign reserve assets remaining with the national central banks after the transfers referred to in Article 30, and Member States' transactions with their foreign exchange working balances shall, above a certain limit to be established within the framework of Article 31.3, be subject to approval by the ECB in order to ensure consistency with the exchange rate and monetary policies of the Community.
The third indent of paragraph 2 shall be without prejudice to the holding and management by the government of Member States of foreign-exchange working balances.
Instruction no. 5: working balance foreign exchange banks
5.1 Foreign exchange banks are obliged to report weekly, on
Monday, their foreign net working balance of the past Friday at
11:00 hours to the Bank. In the event of late receipt of the report, that is to say after Monday, the Bank will charge an administration fee of NAf. 1,000.00 per day for late receipt of the report.
5.2 A foreign exchange bank is not permitted to have its total foreign obligations exceed its total foreign receivables. In the event of a foreign exchange bank having a negative balance, the
Bank will charge this bank an administration fee which is calculated on a weekly basis as follows: the interest rate for special loans on the negative balance multiplied by 7 days and divided by 360 days. These fees will be charged monthly.
Willemstad, July 1, 2000
THE BANK OF THE NETHERLANDS ANTILLES
