PRESS RELEASE

ECB publishes indicative calendar for Governing Council Meetings and reserve maintenance periods in 2015

17 July 2014
  • ECB publishes new calendar for Governing Council meetings with six-week interval for monetary policy meetings
  • Adjusted calendar for reserve maintenance periods in 2015
  • The 12th reserve maintenance period of 2014 will be extended by 14 days and end on 27 January 2015

The European Central Bank (ECB) is publishing today an indicative calendar for the meetings of the Governing Council and for the reserve maintenance periods in 2015.

The Governing Council decided this month that meetings dedicated to monetary policy will be held every six weeks instead of once in a month, starting in January 2015.

As a consequence, the maintenance periods will be extended to about six weeks as well. The new calendar aligns the start of maintenance periods with possible implementation of monetary policy decisions. Credit institutions are required to hold a minimum amount – currently 1% of their reserve base – on their current accounts at the Eurosystem. This requirement must be fulfilled on average over the length of the maintenance period.

2015 Governing Council meetings (held at the ECB premises in Frankfurt unless indicated otherwise):

Meeting dates Comments
Wednesday, 7 January 2015 Non-monetary policy meeting
Thursday, 22 January 2015 Monetary policy meeting followed by press conference
Wednesday, 4 February 2015 Non-monetary policy meeting
Wednesday, 18 February 2015 Non-monetary policy meeting
Thursday, 5 March 2015 Monetary policy meeting followed by press conference
 (Cyprus)
Wednesday, 18 March 2015 Non-monetary policy meeting
Wednesday, 1 April 2015 Non-monetary policy meeting
Wednesday, 15 April 2015 Monetary policy meeting followed by press conference
Wednesday, 6 May 2015 Non-monetary policy meeting
Wednesday, 20 May 2015 Non-monetary policy meeting
Wednesday, 3 June 2015 Monetary policy meeting followed by press conference
Wednesday, 17 June 2015 Non-monetary policy meeting
Wednesday, 1 July 2015 Non-monetary policy meeting
Thursday, 16 July 2015 Monetary policy meeting followed by press conference
Wednesday, 5 August 2015 Non-monetary policy meeting
Thursday, 3 September 2015 Monetary policy meeting followed by press conference
Wednesday, 16 September 2015 Non-monetary policy meeting
Wednesday, 7 October 2015 Non-monetary policy meeting
Thursday, 22 October 2015 Monetary policy meeting followed by press conference
 (Malta)
Wednesday, 4 November 2015 Non-monetary policy meeting
Wednesday, 18 November 2015 Non-monetary policy meeting
Thursday, 3 December 2015 Monetary policy meeting followed by press conference
Wednesday, 16 December 2015 Non-monetary policy meeting

Taking into account this schedule the 12th reserve maintenance period of 2014 will be extended by 14 days and end on 27 January 2015 and the indicative calendar for the reserve maintenance periods in 2015 is as follows.

MP Relevant Governing Council meeting Start of maintenance period End of maintenance period Reserve base data for credit institutions reporting monthly Reserve base data for credit institutions reporting quarterly Length of the maintenance period (days)
1 22 January 2015 28 January 2015 10 March 2015 November 2014 September 2014 42
2 5 March 2015 11 March 2015 21 April 2015 January 2015 December 2014 42
3 15 April 2015 22 April 2015 9 June 2015 February 2015 December 2014 49
4 3 June 2015 10 June 2015 21 July 2015 April 2015 March 2015 42
5 16 July 2015 22 July 2015 8 September 2015 May 2015 March 2015 49
6 3 September 2015 9 September 2015 27 October 2015 July 2015 June 2015 49
7 22 October 2015 28 October 2015 8 December 2015 August 2015 June 2015 42
8 3 December 2015 9 December 2015 26 January 2016 October 2015 September 2015 49

For media queries, please call Stefan Ruhkamp on +49 69 1344 5057.

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