New Member State NCBs included in ERMII agreement

As of 1 May 2004, the National Central Banks of the ten new Member States of the European Union have become parties to the ERM II Central Bank Agreement.

The operating procedures for the exchange rate mechanism in Stage Three of Economic and Monetary Union (ERM II) are laid down in the agreement of 1 September 1998 between the European Central Bank (ECB) and the national central banks (NCBs) of the Member States outside the euro area (ERM II Central Bank Agreement). As of 1 May 2004, the NCBs