Bundesbank adjusts remuneration of domestic government deposits

The Bundesbank’s Executive Board has decided to remunerate domestic government deposits held with the Bundesbank at 0% again as from 1 October 2023. On 8 September 2022, the ECB Governing Council had announced that it would temporarily remove the 0% ceiling for the remuneration of government deposits. On 7 February 2023, it decided to adjust remuneration by setting a new ceiling at a reference interest rate with a discount applied. Within this regime, the national central banks of the Eurosystem decide on the interest rates to be applied to the deposits concerned.