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Recital 3

Recital 3

(3)In accordance with Article 19(3) of Regulation (EU) No 648/2012, the European Central Bank (‘ECB’) has two votes when it is a member of a CCP college both in the framework of its tasks concerning the prudential supervision of credit institutions within the single supervisory mechanism and as the central bank of issue of one of the most relevant Union currencies of the financial instruments cleared. In order to reflect the appropriate representation of the ECB, it should be laid down that in such cases, the ECB should have two participants with voting rights.

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