European Monetary Cooperation Fund (EMCF)

Fonds européen de coopération monétaire (FECOM)
Europäischer Fonds für Währungspolitische Zusammenarbeit (EFWZ)
Fondo Europeo di Cooperazione Monetaria

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6 Apr 1973, with separate legal personality, by Regulation (EEC) No 907/73, 3 Apr 1973, of the then Council of the European Communities, currently Council of the European Union. Located in Luxembourg following Decision 73/208/EEC, 24 July 1973, of representatives of governments of Member States of the European Communities. Originally intended as precursor to a European Central Bank (ECB). A constituent body of European Communities (EC), to be consulted regarding changes in the composition of the ECU, the EMCF came within the framework of European Monetary System (EMS) from Mar 1979. Dissolved as of 1 Jan 1994, in the progress towards European Economic and Monetary Union (EMU), when tasks were taken over by the European Monetary Institute (EMI) envisaged in Treaty on European Union (Maastricht Treaty).


Promote the proper functioning of the Basel Agreement of 24 Apr 1972 on the narrowing of the margins of fluctuations between Community currencies (superseded in Mar 1979 by the Agreement between the central banks of the Member States of the European Economic Community laying down the operating procedures for the European Monetary System).

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Administers, under the European Monetary System, the very short-term financing (provided for by the Agreement of 13 Mar 1979 between the central banks of EEC Member States laying down the operating procedures for the European Monetary System) and the short-term monetary support (provided for by the Agreement of 9 Feb 1970 between the central banks of EEC Member States) and issues European Currency Unit (ECU) to EEC central banks in exchange for deposit of 20 percent of their gold reserves and 20 percent of their US$ reserves; administers loans raised under the Community facility providing medium-term financial assistance for EEC Member States' balances of payments (Regulation (EEC) No 1969/88 of Council of the European Communities of 24 June 1988). Execution of technical aspects of the Fund's operations has been delegated to Bank for International Settlements (BIS), acting as Agent for the EMCF.


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English, French, German.


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Members in 12 countries
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Type I Classification

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Type II Classification

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Subjects *

  • Commerce
    • Funds
    • Currency
    • Money
  • Solidarity
    • Cooperation

UN Sustainable Development Goals **

GOAL 17: Partnerships to achieve the Goal



Last News Received

10. Jun 1993
* Subject classification is derived from the organization names and aims.
** UN SDGs are linked to the subject classification.

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