A stock of euro cash held at the ECB by a bank outside the euro area. Because about fifteen percent of euro coins and banknotes circulated abroad in 2007, such warehouses seem appropriate. – Cf. ECB Annual Report 2006, p. 121 (establishment of a consignment warehouse in Hong Kong and Singapore), ECB Annual Report 2011, p. 105 (further consignment warehouses in the United States and the Middle East are planned), ECB Annual Report 2012, p. 107 (tender procedure).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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