The Accounts Opened at the European Central Bank Continue to be Remunerated at the Deposit Facility Rate

September 11, 2020 Hristescu & Partners

On 11 September 2020, came into force the Decision (EU) 2020/1264 of the European Central Bank of 8 September 2020 Amending Decision (EU) 2019/1743 of the European Central Bank on the Remuneration of Holdings of Excess Reserves and of Certain Deposits (ECB/2020/38).

According to its provisions, the accounts opened at the ECB continue to be remunerated at the deposit facility rate. 

However, if some deposits need to be held in those accounts previously to the date on which a payment must be made, such deposits shall be remunerated during this advance period at 0% per cent or the deposit facility rate, whichever is higher.

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