In addition, experts from the HNB have member status in ESCB Committees whenever the committees meet in ESCB composition.
Since the signing of the Accession Treaty in December 2011, Vujcic and HNB experts had been participating as observers at meetings of the General Council and the ESCB Committees respectively, according to a statement on the ECB and HNB websites.
"Croatia will not adopt the euro immediately but will do so once it has fulfilled the requirements laid down in the Treaty on the Functioning of the European Union. Unlike Denmark and the United Kingdom, Croatia does not have the right to opt out of adopting the single currency," the ECB said.
Both the ECB and the European Commission will prepare convergence reports every two years, or at the request of a Member State which has not yet adopted the euro. These reports provide the basis for the EU Council's decision on whether the Member States concerned fulfil the necessary conditions for adopting the euro.
The ECB today released the adjustments of its capital key, given that the ECB capital increases as a new country joins the EU and its central bank becomes a member of the ECSB.
The HNB's share in the ECB capital key is 0.5945 per cent, the subscribed capital amounts to EUR 64.3 million and paid-up capital to EUR 2.4 million.
With Croatia's EU accession, the ECB's subscribed capital rose from EUR 10.76 billion to 10.82 billion.