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ECB Adopts New Capital Key for 2019

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The Governing Council of the European Central Bank (ECB) agreed to modify its capital shares of national central banks on January 1, 2019. The action will have implications for ECB’s bond-buying program. These changes of the capital key will lower the shares of 12 countries which include Greece, Italy, and Spain. 16 countries will be getting a boost in shares which include Austria, France, and Germany. This capital key adjustment occurs every five years or when a new member of the European Union joins or leaves the economic bloc. The total amount of the subscribed capital of the ECB remains unchanged at €10,825,007,069.61.

Distribution of the ECB’s capital as of January 1, 2019

  Key for subscription to the ECB’s capital (%) from 1 January 2019 Subscribed share of capital (EUR)from 1 January 2019 Paid-up capital (EUR) from 1 January 2019 Key for subscription to the ECB’s capital (%) until 31 December 2018
Nationale Bank van België/ Banque Nationale de Belgique 2.4778 2.528 273,656,178.72 273,656,178.72
Deutsche Bundesbank 17.9973 18.367 1,988,229,048.48 1,988,229,048.48
Eesti Pank 0.1928 0.1968 21,303,613.91 21,303,613.91
Central Bank of Ireland 1.1607 1.1754 127,237,133.10 127,237,133.10
Bank of Greece 2.0332 1.7292 187,186,022.25 187,186,022.25
Banco de España 8.8409 8.3391 902,708,164.54 902,708,164.54
Banque de France 14.1792 14.2061 1,537,811,329.32 1,537,811,329.32
Banca d’Italia 12.3108 11.8023 1,277,599,809.38 1,277,599,809.38
Central Bank of Cyprus 0.1513 0.1503 16,269,985.63 16,269,985.63
Latvijas Banka 0.2821 0.2731 29,563,094.31 29,563,094.31
Lietuvos bankas 0.4132 0.4059 43,938,703.70 43,938,703.70
Banque centrale du Luxembourg 0.203 0.227 24,572,766.05 24,572,766.05
Central Bank of Malta 0.0648 0.0732 7,923,905.17 7,923,905.17
De Nederlandsche Bank 4.0035 4.0677 440,328,812.57 440,328,812.57
Oesterreichische Nationalbank 1.9631 2.0325 220,018,268.69 220,018,268.69
Banco de Portugal 1.7434 1.6367 177,172,890.71 177,172,890.71
Banka Slovenije 0.3455 0.3361 36,382,848.76 36,382,848.76
Národná banka Slovenska 0.7725 0.8004 86,643,356.59 86,643,356.59
Suomen Pankki – Finlands Bank 1.2564 1.2708 137,564,189.84 137,564,189.84
Subtotal for the group of euro area NCBs 70.3915 69.6176 7,536,110,121.69 7,536,110,121.69
Българска народна банка (Bulgarian National Bank) 0.859 0.8511 92,131,635.17 3,454,936.32
Česká národní banka 1.6075 1.6172 175,062,014.33 6,564,825.54
Danmarks Nationalbank 1.4873 1.4986 162,223,555.95 6,083,383.35
Hrvatska narodna banka 0.6023 0.5673 61,410,265.11 2,302,884.94
Magyar Nemzeti Bank 1.3798 1.3348 144,492,194.37 5,418,457.29
Narodowy Bank Polski 5.123 5.2068 563,636,468.10 21,136,367.55
Banca Naţională a României 2.6024 2.447 264,887,922.99 9,933,297.11
Sveriges Riksbank 2.2729 2.5222 273,028,328.31 10,238,562.31
Bank of England 13.6743 14.3374 1,552,024,563.60 58,200,921.14
Subtotal for the group of non-euro area NCBs 29.6085 30.3824 3,288,896,947.92 123,333,635.55

Source: ECB

Based on data provided by the European Commission, these shares “of the NCBs in the ECB’s capital are weighted according to the share of the respective Member States in the total population and gross domestic product of the European Union (EU), in equal measure,” according to an ECB press release.

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Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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