Interest rates and reserve ratios
Table Minimum reserves interest rates 2022
Maintenance period ending in | Remuneration rate on reserve holdings | Penalty rate on reserve deficiencies1 | Remuneration rate on the non-exempt tier of excess reserve holdings² |
July 2022 | 0.00% | 2.75% | -0.50% |
June 2022 | 0.00% | 2.75% | -0.50% |
April 2022 | 0.00% | 2.75% | -0.50% |
March 2022 | 0.00% | 2.75% | -0.50% |
February 2022 | 0.00% | 2.75% | -0.50% |
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 2021
Maintenance period ending in | Remuneration rate on reserve holdings | Penalty rate on reserve deficiencies1 | Remuneration rate on the non-exempt tier of excess reserve holdings² |
December 2021 | 0.00% | 2.75% | -0.50% |
November 2021 | 0.00% | 2.75% | -0.50% |
September 2021 | 0.00% | 2.75% | -0.50% |
July 2021 | 0.00% | 2.75% | -0.50% |
June 2021 | 0.00% | 2.75% | -0.50% |
April 2021 | 0.00% | 2.75% | -0.50% |
March 2021 | 0.00% | 2.75% | -0.50% |
January 2021 | 0.00% | 2.75% | -0.50% |
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