How to calculate the minimum reserve requirements
This page provides summary information on how to determine the reserve requirements of an individual credit institution subject to the ECB's minimum reserve requirements. A more detailed description of the system can be found in the ECB publication entitled "The single monetary policy in the euro area: General documentation on Eurosystem monetary policy instruments and procedures" (April 2002) (See the section Publications).
The legal framework for the minimum reserve system is set out in the Regulation (EC) No. 2818/98 of the European Central Bank of 1 December 1998 on the application of minimum reserves (ECB/1998/15), which is included in the publication entitled "Compendium: collection of legal instruments (June 1998 - December 2001)" (See the section Legal documents.)
|As from the maintenance period starting on||Overnight deposits, deposits with agreed maturity or period of notice up to 2 years, debt securities issued with maturity up to 2 years, money market paper||Deposits with agreed maturity or period of notice over 2 years, repos, debt securities issued with maturity over 2 years|
Liabilities vis-à-vis other credit institutions subject to the Eurosystem's minimum reserve requirments, the ECB and euro area national central banks are excluded from the reserve base.
|As from the maintenance period starting on||Debt securities issued with maturity up to 2 years||Money market paper|
If a credit institution subject to the Eurosystem's minimum reserve requirements cannot provide evidence of its interbank liabilities in the form of debt securities issued with a maturity up to two years and money market paper, the ECB allows the institution to apply a standardised deduction to the aforementioned liabilities.
|As from the maintenance period starting on|
|1999||1 Jan.||EUR 100000|
The lump sum allowance should be deducted by each credit institution from the amount of its reserve requirement.