Decision (EU) 2023/817 of the European Central Bank as regards the remuneration of excess reserves deposited at the European Central Bank was published in the Official Journal (OJ) of the EU. The decisions replaces a previous decision, which has been in place since September 2022, by setting the new remuneration rate of such excess reserves at €STR (euro short-term rate) minus 20 basis points. This proceeding is in line with the current remuneration policy for government deposits made at national central banks of EU member states whose currency is the Euro.
The new remuneration policy will apply from May 1, 2023.
Other Features
banks
financial stability
interest rate
limit
payment services
remuneration
Date Published: 2023-04-17
Date Taking Effect: 2023-04-22
Regulatory Framework: Eurosystem Monetary Policy, Treaty on the Functioning of the European Union (TFEU)
Regulatory Type: decision
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