EUR-Lex - 31971D0142 - EN

Article 1

Member States shall co-ordinate their monetary and credit policies having regard to the guidelines on general economic policy laid down by the Council.

Article 2

Within this framework, the central banks shall be invited, within the limits of their powers and the scope of their respective responsibilities: (a) to co-ordinate their policies in monetary and credit matters, within the Committee of Governors of Central Banks;

(b) to establish general guidelines to be followed by each of them, in particular as regards the trend of bank liquidity, the terms for supply of credit and the level of interest rates;

(c) to lay down practical methods for the application of this procedure.

Article 3

This Decision is addressed to the Member States.

Done at Brussels, 22 March 1971.

For the Council

The President

M. COINTAT 1OJ No L 28, 27.3.1971, p. 1.