The European Central Bank (ECB) is also responsible for withdrawing euro banknotes and establishing a common regime under which the ECB and the national central banks can perform this withdrawal.
The withdrawal of a euro banknote type or series is regulated by a decision of the Governing Council of the ECB published for general information in the Official Journal of the European Union and other media.
- This decision must cover, as a minimum, the followingpoints:
- the banknote type or series to be withdrawn from circulation;
- the duration of the exchange period;
- the date on which the euro banknote type or series will lose its legal tender status;
- the treatment of euro banknotes presented once the the withdrawal period is over and/or they have lost their legal tender status.