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Interest rates and reserve ratios

Interest rates and reserve ratios

Table Minimum reserves interest rates 2019

Maintenance period ending inRemuneration rate on reserve holdingsPenalty rate on reserve deficiencies1Remuneration rate on excess reserve holdings2

September 2019

0.00 %

2.75 %

-0,40 %

July 2019

0.00 %

2.75 %

-0.40 %

June 2019

0.00 %

2.75 %

-0.40 %

April 2019

0.00 %

2.75 %

-0.40 %

March 2019

0.00 %

2.75 %

-0.40 %

January 2019

0.00 %

2.75 %

-0.40 %

1 2.5 percentage points above the ECB's average marginal lending rate during the reserve maintenance period (in the case of repeated failure to comply with the reserve requirement (more than twice within 12 months) 5 percentage points above the marginal lending rate).

2 implemented in accordance with the negative interest rate for deposit facility

Table Minimum reserves interest rates 2018

Maintenance period ending inRemuneration rate on reserve holdingsPenalty rate on reserve deficiencies1Remuneration rate on excess reserve holdings2

December 2018

0.00 %

2.75 %

-0.40 %

October 2018

0.00 %

2.75 %

-0.40 %

September 2018

0.00 %

2.75 %

-0.40 %

July 2018

0.00 %

2.75 %

-0.40 %

June 2018

0.00 %

2.75 %

-0.40 %

May 2018

0.00 %

2.75 %

-0.40 %

March 2018

0.00 %

2.75 %

-0.40 %

January 2018

0.00 %

2.75 %

-0.40 %

1 2.5 percentage points above the ECB's average marginal lending rate during the reserve maintenance period (in the case of repeated failure to comply with the reserve requirement (more than twice within 12 months) 5 percentage points above the marginal lending rate).

2 implemented in accordance with the negative interest rate for deposit facility

Table Minimum reserves interest rates 2017

Maintenance period ending inRemuneration rate on reserve holdingsPenalty rate on reserve deficiencies1Remuneration rate on excess reserve holdings2

December 2017

0.00 %

2.75 %

-0.40 %

October 2017

0.00 %

2.75 %

-0.40 %

September 2017

0.00 %

2.75 %

-0.40 %

July 2017

0.00 %

2.75 %

-0.40 %

June 2017

0.00 %

2.75 %

-0.40 %

May 2017

0.00 %

2.75 %

-0.40 %

March 2017

0.00 %

2.75 %

-0.40 %

January 2017

0.00 %

2.75 %

-0.40 %

1 2.5 percentage points above the ECB's average marginal lending rate during the reserve maintenance period (in the case of repeated failure to comply with the reserve requirement (more than twice within 12 months) 5 percentage points above the marginal lending rate).

2 implemented in accordance with the negative interest rate for deposit facility

Table Reserve ratios

Applicable fromRatio (% of reserve base1)

January 1, 1999

2

January 18, 2012

1

1 excluding liabilities to which a reserve ratio of 0% applies

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