council regul ec novemb applic minimum reserv european central bank council european union regard protocol statut european system central bank european central bank statut articl thereof regard recommend european central bank ecb regard opinion european parliament regard opinion commiss act accord procedur laid articl treati establish european commun hereinaft refer treati articl statut condit set articl statut paragraph protocol provis relat unit kingdom great britain northern ireland articl conjunct articl statut paragraph protocol paragraph protocol provis relat denmark confer right impos oblig particip member state articl statut requir council defin inter alia basi minimum reserv maximum permiss ratio reserv basi articl statut requir council defin sanction case complianc requir specif sanction set regul refer council regul ec novemb power european central bank impos sanction principl procedur relat imposit sanction simplifi procedur imposit sanction event kind infring event conflict provis regul ec provis regul enabl ecb impos sanction provis regul prevail articl statut govern council ecb establish regul calcul determin requir minimum reserv order effect instrument perform monei market manag monetari control function system imposit minimum reserv structur ecb abil flexibl impos reserv requir context depend chang econom financi condit particip member state respect ecb flexibl react payment technolog develop electron monei ecb impos minimum reserv liabil result balanc sheet item individu combin balanc sheet balanc sheet item compar liabil record balanc sheet order limit possibl circumvent ecb establish detail regul imposit minimum reserv includ determin actual reserv ratio remuner reserv exempt minimum reserv modif requir applic specif group group institut bound act pursuanc object european system central bank escb set articl treati reflect articl statut impli inter alia principl induc signific undesir deloc disintermedi imposit minimum reserv constitut element definit implement monetari polici commun basic task escb indent articl treati reflect indent articl statut sanction provid event complianc oblig set regul prejudic possibl escb establish enforc provis relat counterparti includ partial total exclus institut monetari polici oper case infring minimum reserv requir escb ecb entrust task prepar monetari polici instrument full oper stage econom monetari union hereinaft refer stage essenti element prepar adopt ahead stage ecb regul requir institut hold minimum reserv januari desir inform market particip detail provis ecb deem adopt implement minimum reserv system provid ecb date entri forc regul regulatori power provis regul effect appli entireti particip member state adopt measur view ensur author power assist collabor fulli ecb carri collect verif inform requir regul accord articl treati adopt regul articl definit purpos regul particip member state member state adopt singl currenc accord treati nation central bank central bank particip member state institut entiti particip member state term articl statut ecb requir hold minimum reserv reserv ratio percentag basi minimum reserv ecb accord articl statut sanction fine period penalti payment penalti interest interest bear deposit articl exempt institut ecb discriminatori basi exempt institut minimum reserv accord criteria establish ecb articl basi minimum reserv basi minimum reserv ecb requir institut hold articl statut includ subject provis paragraph articl liabil institut result accept fund ii liabil result balanc sheet item exclud iii fulli partli liabil ow institut modal ecb iv liabil ow ecb nation central bank liabil form negoti debt instrument ecb altern provis paragraph iii liabil ow institut fulli partli deduct basi minimum reserv institut ow ecb discriminatori basi deduct specif type asset categori liabil form part basi minimum reserv articl reserv ratio reserv ratio ecb articl statut exce relev liabil form part basi minimum reserv subject paragraph ecb discriminatori basi differ reserv ratio specif categori liabil form part basi minimum reserv articl regulatori power purpos articl ecb adopt regul decis articl collect verifi inform ecb collect institut inform applic minimum reserv inform confidenti ecb verifi accuraci qualiti inform institut provid demonstr complianc minimum reserv requir ecb notifi institut decis verifi data effect compulsori collect verifi data includ requir submiss document examin book record institut copi extract book record obtain written oral explan institut obstruct collect verif inform particip member state relev premis locat afford assist includ ensur access premis institut abovement right exercis ecb deleg nation central bank execut right paragraph refer accord indent articl statut ecb empow regul condit verifi exercis articl sanction case complianc institut fail hold part minimum reserv impos accord regul ecb regul decis herewith ecb impos sanction payment percentag point escb margin lend rate escb margin lend rate case appli amount minimum reserv relev institut fail provid requir relev institut establish interest bear deposit ecb nation central bank time amount minimum reserv relev institut fail provid matur deposit exce period institut fail hold minimum reserv sanction impos accord paragraph principl procedur set regul ec appli articl articl regul applic period refer articl thereof reduc fifteen dai institut fail compli oblig deriv regul ecb regul decis therewith set paragraph sanction case failur limit condit relat imposit sanction set regul ec articl final provis regul enter forc dai public offici journal european commun articl appli date entri forc regul remain articl appli januari regul bind entireti directli applic member state brussel novemb council presid edling oj oj opinion deliv octob publish offici journal page offici journal