{
  "title": "Press Release: IMF Approves European Central Bank Application to Become a Holder of Special Drawing Rights",
  "publication": "IMF News, November 15, 2000",
  "sourceUrl": "https://www.imf.org/en/news/articles/2015/09/14/01/49/pr0059",
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  "summary": "The International Monetary Fund (IMF) approved the European Central Bank’s (ECB) application to become a prescribed holder of Special Drawing Rights (SDRs).",
  "publishDate": "2000-11-15",
  "sections": [
    {
      "heading": "Summary of action taken",
      "content": "- The International Monetary Fund (IMF) approved the European Central Bank’s (ECB) application to become a prescribed holder of Special Drawing Rights (SDRs).\n- Approval of the ECB’s application brings to 16 the number of prescribed holders of SDRs.\n- Press Release No. 00/59, dated November 15, 2000."
    },
    {
      "heading": "Legal basis and eligibility",
      "content": "- The IMF’s Articles of Agreement provide for the possibility to prescribe as other holders of SDRs—other than IMF members—certain types of official organizations, including institutions that perform the functions of a central bank for more than one IMF member country.\n- A prescribed holder is a category distinct from IMF members with specified rights and restrictions regarding SDRs."
    },
    {
      "heading": "Rights and restrictions for prescribed holders",
      "content": "- A prescribed holder may acquire and use SDRs in exchange for an equivalent amount of a monetary asset, other than gold, in transactions and operations with:\n  - any other prescribed holder, and\n  - any of the IMF’s members.\n- A prescribed holder may not be allocated SDRs issued by the IMF.\n- A prescribed holder may not be required by the IMF to receive SDRs in exchange for currency."
    },
    {
      "heading": "Current list of prescribed holders of SDRs (as of this press release)",
      "content": "- African Development Bank\n- African Development Fund\n- Arab Monetary Fund\n- Asian Development Bank\n- Bank for International Settlements\n- Bank of Central African States\n- Central Bank of West African States\n- East African Development Bank\n- Eastern Caribbean Central Bank\n- European Central Bank\n- International Bank for Reconstruction and Development\n- International Development Association\n- International Fund for Agricultural Development\n- Islamic Development Bank\n- Latin American Reserve Fund\n- Nordic Investment Bank\n\nPress Release No. 00/59 — November 15, 2000 — International Monetary Fund.\n\n---\n\n\n References\n\n- Press Releases\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2015/09/14/01/49/pr0059"
    }
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    "Published: November 15, 2000",
    "The International Monetary Fund (IMF) approved the European Central Bank’s (ECB) application to become a prescribed holder of Special Drawing Rights (SDRs).",
    "Approval of the ECB’s application brings to 16 the number of prescribed holders of SDRs.",
    "Press Release No. 00/59, dated November 15, 2000.",
    "The IMF’s Articles of Agreement provide for the possibility to prescribe as other holders of SDRs—other than IMF members—certain types of official organizations, including institutions that perform the functions of a central bank for more than one IMF member country.",
    "A prescribed holder is a category distinct from IMF members with specified rights and restrictions regarding SDRs.",
    "A prescribed holder may acquire and use SDRs in exchange for an equivalent amount of a monetary asset, other than gold, in transactions and operations with:",
    "A prescribed holder may not be allocated SDRs issued by the IMF.",
    "A prescribed holder may not be required by the IMF to receive SDRs in exchange for currency.",
    "African Development Bank",
    "African Development Fund",
    "Arab Monetary Fund",
    "Asian Development Bank",
    "Bank for International Settlements",
    "Bank of Central African States",
    "Central Bank of West African States",
    "East African Development Bank",
    "Eastern Caribbean Central Bank",
    "European Central Bank",
    "International Bank for Reconstruction and Development",
    "International Development Association",
    "International Fund for Agricultural Development",
    "Islamic Development Bank",
    "Latin American Reserve Fund",
    "Nordic Investment Bank",
    "[Press Releases](https://www.imf.org/en/news/searchnews)",
    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
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