regul ec european central bank septemb applic minimum reserv ecb govern council european central bank regard statut european system central bank european central bank articl thereof regard council regul ec novemb applic minimum reserv european central bank amend regul ec regard council regul ec novemb power european central bank impos sanction regul ec european central bank decemb applic minimum reserv ecb significantli amend occas specif procedur merger divis involv credit institut introduc regul ec european central bank august ecb order clarifi oblig institut respect minimum reserv reason effici provis amend regul ec european central bank april ecb clarifi electron monei institut subject reserv requir establish gener rule credit institut automat exempt reserv requir mainten period ceas exist clarifi oblig includ reserv base liabil institut relat branch entiti relat head offic regist offic entiti locat particip member state amend made regul ec ecb desir reason clariti rationalis provis question recast bring singl text articl statut state european central bank ecb requir credit institut establish particip member state hold minimum reserv held account ecb particip nation central bank particip ncb consid reserv held sole account particip ncb order effect instrument minimum reserv requir specif calcul mainten minimum reserv report verif rule exclus interbank liabil reserv base standard deduct appli liabil matur year debt secur categori base euro area wide macro ratio stock relev instrument issu credit institut held credit institut ecb particip ncb ii total amount outstand instrument issu credit institut rule calendar mainten period align calendar meet govern council ecb monthli assess monetari polici stanc pre schedul specif procedur notif acknowledg minimum reserv institut awar oblig respect minimum reserv time adopt regul articl definit purpos regul quot particip member state quot eu member state adopt euro accord treati quot particip nation central bank quot particip ncb nation central bank particip member state quot eurosystem quot design ecb particip ncb quot institut quot entiti particip member state ecb term articl statut requir hold minimum reserv quot reserv account quot institut account particip ncb end dai balanc count complianc institut reserv requir quot reserv requir quot requir institut hold minimum reserv reserv account particip ncb quot reserv ratio quot percentag articl item reserv base quot mainten period quot period complianc reserv requir calcul minimum reserv held reserv account quot end dai balanc quot balanc point time finalis payment activ entri relat access stand facil eurosystem place quot ncb busi dai quot dai particip ncb open purpos conduct eurosystem monetari polici oper quot resid quot natur legal person resid particip member state mean articl council regul ec novemb collect statist inform european central bank quot reorganis measur quot measur intend preserv restor financi situat institut affect parti pre exist right includ measur involv suspens payment suspens enforc measur reduct claim quot wind proceed quot collect proceed institut necessarili involv intervent judici author compet author particip member state aim realis asset supervis author includ proceed termin composit analog measur quot merger quot oper credit institut merg institut dissolv liquid transfer asset liabil credit institut acquir institut newli establish credit institut quot divis quot oper credit institut institut divid dissolv liquid transfer asset liabil institut recipi institut newli establish credit institut articl institut subject reserv requir categori institut subject reserv requir credit institut defin subparagraph articl direct ec european parliament council march relat take pursuit busi credit institut particip ncb branch defin articl direct ec credit institut defin subparagraph articl direct particip ncb includ branch credit institut regist head offic particip member state branch credit institut establish particip member state locat particip member state subject reserv requir oblig submit request institut exempt reserv requir start mainten period authoris withdrawn renounc decis submit institut wind proceed judici author compet author particip member state ecb exempt institut reserv requir discriminatori basi institut subject reorganis measur institut purpos ecb minimum reserv system met impos reserv requir reach decis exempt ecb account criteria institut pursu special purpos function ii institut exercis activ bank function competit credit institut iii institut deposit earmark purpos relat region intern develop assist ecb publish list institut subject reserv requir ecb publish list institut exempt reserv requir reason subject reorganis measur institut reli list decid liabil ow institut subject reserv requir list determin institut subject reserv requir accord articl articl reserv base institut reserv base compris liabil defin ecb report framework monei bank statist regul ec european central bank novemb consolid balanc sheet monetari financi institut sector ecb result accept fund deposit debt secur issu institut liabil relat branch entiti relat head offic regist offic entiti locat particip member state includ liabil reserv base liabil exclud reserv base liabil ow institut list exempt ecb minimum reserv system articl liabil ow ecb particip ncb appli provis institut provid evid relev particip ncb actual amount liabil ow institut list exempt ecb minimum reserv system liabil ow ecb particip ncb order exclud reserv base evid present debt secur issu agre matur year institut appli standard deduct outstand amount debt secur issu agre matur year reserv base amount standard deduct publish ecb manner public list refer articl institut calcul reserv base respect mainten period basi data relat month month prior month mainten period start institut report reserv base relev particip ncb requir ecb report framework monei bank statist laid regul ec ecb institut grant derog set articl regul ec ecb reserv base calcul consecut mainten period begin mainten period start month end quarter basi end quarter data report accord annex ii regul ec ecb institut notifi minimum reserv accord articl articl reserv ratio reserv ratio appli liabil categori defin ecb report framework monei bank statist regul ec ecb deposit agre matur year deposit redeem notic year repo debt secur issu agre matur year reserv ratio appli liabil includ reserv base articl calcul notif minimum reserv amount minimum reserv held institut respect mainten period calcul appli reserv ratio relev item reserv base period defin articl minimum reserv identifi relev particip ncb institut accord procedur mention articl constitut basi remuner hold requir reserv ii assess institut complianc oblig hold requir amount minimum reserv allow eur deduct amount minimum reserv grant institut subject provis contain articl particip ncb determin procedur notif institut individu minimum reserv accord principl relev particip ncb institut initi calcul institut minimum reserv relev mainten period basi statist inform reserv base report accord articl regul ec ecb calcul parti notifi parti calcul minimum reserv latest ncb busi dai start mainten period relev particip ncb earlier date time limit notif minimum reserv addit time limit institut notifi revis reserv base revis notifi minimum reserv institut abus opportun offer particip ncb revis reserv base minimum reserv ncb suspend permiss institut submit revis notifi parti acknowledg calcul minimum reserv latest ncb busi dai preced start mainten period notifi parti repli notif end ncb busi dai preced start mainten period deem acknowledg amount minimum reserv institut relev mainten period acknowledg institut minimum reserv relev mainten period revis particip ncb publish calendar indic forthcom time limit notif acknowledg data relev minimum reserv implement procedur mention articl institut fail report relev statist inform articl regul ec ecb relev particip ncb inform institut concern amount institut minimum reserv notifi acknowledg accord procedur mention articl relev mainten period estim basi histor inform report institut relev inform articl regul ec ecb power impos sanction infring ecb statist report requir remain unaffect articl reserv hold institut hold minimum reserv reserv account nation central bank particip member state establish relat reserv base member state reserv account denomin euro institut settlement account particip ncb reserv account institut compli reserv requir averag end dai balanc reserv account mainten period amount defin period accord procedur set articl institut establish particip member state regist offic head offic locat member state respons ensur complianc institut reserv requir institut regist offic head offic member state design branch member state respons ensur complianc institut reserv requir establish reserv hold count complianc institut total reserv requir member state articl mainten period govern council ecb decid modifi calendar paragraph mainten period start settlement dai main refinanc oper meet govern council monthli assess monetari polici stanc pre schedul execut board ecb publish calendar mainten period month start calendar year public calendar place offici journal european union websit ecb particip ncb govern council decid modif calendar due extraordinari circumst execut board publish manner advanc start mainten period modif appli articl remuner hold requir reserv remuner averag mainten period ecb rate weight number calendar dai main refinanc oper eurosystem formula result round nearest cent gt refer graphic gt gt refer graphic gt rt remuner paid hold requir reserv mainten period ht averag daili hold requir reserv mainten period nt number calendar dai mainten period rt rate remuner hold requir reserv mainten period standard round rate remuner decim appli ith calendar dai mainten period mri margin interest rate recent main refinanc oper settl calendar dai remuner paid ncb busi dai end mainten period remuner earn articl respons verif particip ncb exercis verifi accuraci qualiti inform institut provid demonstr complianc reserv requir articl regul ec prejudic ecb exercis articl indirect hold minimum reserv intermediari institut appli permiss hold minimum reserv indirectli intermediari resid member state intermediari institut subject reserv requir effect part administr treasuri manag institut act intermediari hold minimum reserv applic permiss hold minimum reserv intermediari paragraph address nation central bank particip member state applic establish applic includ copi agreement intermediari applic parti express consent arrang agreement applic wish access eurosystem stand facil open market oper agreement notic period month complianc condit relev particip ncb grant applic permiss hold minimum reserv intermediari subject provis paragraph articl permiss effect start mainten period date permiss grant continu durat aforement agreement parti intermediari maintain minimum reserv hold accord gener condit ecb minimum reserv system institut intermediari act intermediari respons compli institut reserv requir event complianc ecb impos applic sanction intermediari institut act intermediari accord liabil complianc ecb relev particip ncb time withdraw permiss hold minimum reserv indirectli institut hold reserv indirectli intermediari intermediari fail compli oblig ecb minimum reserv system ii condit hold reserv indirectli paragraph articl longer fulfil iii prudenti reason relat intermediari permiss withdrawn prudenti reason relat intermediari withdraw effect subject requir paragraph withdraw reason effect end current mainten period institut hold reserv intermediari intermediari time permiss withdrawn withdraw requir prior notif relev particip ncb effect institut hold minimum reserv intermediari intermediari inform withdraw permiss reason prudenti work dai end mainten period permiss withdrawn prejudic individu statist report oblig institut hold minimum reserv intermediari intermediari report reserv base data suffici detail manner enabl ecb verifi accuraci qualiti regard provis contain articl determin respect minimum reserv reserv hold data respect institut act intermediari data provid particip ncb minimum reserv held intermediari provid aforement reserv base data frequenc timet establish ecb report framework monei bank statist laid regul ec ecb articl reserv hold consolid basi institut allow report statist data group consolid basi defin ecb report framework monei bank statist regul ec ecb hold minimum reserv institut group act intermediari exclus institut accord provis articl institut act intermediari group appli ecb exempt provis articl ecb accept applic group entitl receiv allow refer articl articl ncb busi dai branch particip ncb close ncb busi dai ow local region bank holidai relev particip ncb inform institut advanc arrang made transact involv branch articl merger divis mainten period merger take effect merg institut reserv requir assum acquir institut acquir institut benefit allow articl grant merg institut merg institut reserv hold mainten period merger take effect count complianc reserv requir acquir institut mainten period immedi mainten period merger take effect onward acquir institut grant allow articl mainten period immedi merger take effect acquir institut minimum reserv calcul reserv base aggreg reserv base merg institut acquir institut reserv base aggreg relev mainten period merger occur extent requir adequ statist inform merg institut acquir institut assum merg institut statist report oblig specif provis depend featur institut involv merger set annex ii regul ec ecb mainten period divis take effect recipi institut credit institut assum reserv requir institut divid recipi credit institut liabl proport part reserv base institut divid alloc reserv held institut divid mainten period divis take effect alloc recipi institut credit institut proport mainten period divis take effect allow articl grant recipi institut credit institut mainten period immedi mainten period divis take effect recipi institut credit institut report respect reserv base accord articl regul ec ecb recipi institut credit institut assum possibl addit minimum reserv minimum reserv calcul basi part reserv base institut divid alloc mainten period immedi mainten period divis take effect onward recipi institut credit institut grant allow articl articl transit provis mainten period start januari end march minimum reserv transit mainten period calcul reserv base decemb reserv base septemb institut report quarterli basi procedur calcul notif confirm revis acknowledg set articl regul ec ecb appli transit mainten period articl final provis regul enter forc januari except articl enter forc march regul ec ecb decemb applic minimum reserv repeal januari except articl repeal march refer made repeal regul constru made regul frankfurt main septemb behalf govern council ecb willem duisenberg oj oj oj oj regul ecb august amend regul ec applic minimum reserv ecb amend regul ec european central bank consolid balanc sheet monetari financi institut sector ecb oj regul ecb april amend regul ecb applic minimum reserv oj oj oj direct amend direct ec oj oj