European Central Bank 8 September 1998, Opinion of the European Central Bank at the request of the Banco de España under Articles 109l (2) and 109f (6) of the Treaty establishing the European Community (hereinafter referred to as the "Treaty") and Article 5.3 of the Statute of the European Monetary Institute (hereinafter referred to as the "EMI") on a draft Monetary Circular Letter amending the Spanish regime of minimum reserves for the two last months of 1998 (hereinafter referred to as the "Circular") (CON/98/41)

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