Two-tier system for remunerating excess reserve holdings

This paper reviews the experience of the ECB with the two-tier system for excess reserve remuneration that exempted a portion of banks' excess liquidity (EL) holdings from the negative interest rate of the ECB's deposit facility. The two-tier system aimed to support the bank-based transmis...

Ausführliche Beschreibung

Bibliographische Detailangaben

Hauptverfasser:	Boucinha, Miguel, Burlon, Lorenzo, Corsi, Marco, Della Valle, Guido, Eisenschmidt, Jens, Marmara, Iwona, Pool, Sebastiaan, Schumacher, Julian, Vergote, Olivier
Format:	Artikel
Sprache:	eng
Schlagworte:	01809 bank deposit European Central Bank financial transaction investment income monetary policy money-market liquidity reserves
Online-Zugang:	Volltext
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