Regulation on EMCF Unit of Account Value

PROPOSAL FOR A COUNCIL REGULATION CHANGING THE VALUE OF THE UNIT OF ACCOUNT USED BY THE EUROPEAN MONETARY COOPERATION FUND

Stage: No longer in force
Procedure: Regulation
Last activity: 1 Jan 1979

Summary

Generated

Council Regulation (EEC) No 3180/78 replaced the European Monetary Cooperation Fund's gold-defined unit of account with the ECU, a basket of Member States' currencies. It applied from 1 January 1979, the same date it entered into force. The Council retains power to change the ECU's composition by unanimous vote. The regulation binds the Fund and its member central banks.

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Sources: EUR-Lex. Record as of 20 Oct 2026. Something wrong on this page? Report an error.

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