Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)

Market operations

Remuneration of government deposits and other non-monetary policy deposits

On 16 April 2024 the Governing Council adopted Decision ECB/2024/11 on the remuneration of non-monetary policy deposits held with national central banks and the European Central Bank, under which the remuneration ceiling for euro area overnight government deposits will remain unchanged at euro short-term rate (€STR) minus 20 basis points. It also adopted two legal acts adjusting the remuneration of other non-monetary policy deposits, namely Guideline ECB/2024/12 amending Guideline (EU) 2019/671 on domestic asset and liability management operations by the national central banks (ECB/2019/7) and Guideline ECB/2024/13 on the Eurosystem’s provision of reserve management services in euro to central banks and countries located outside the euro area and to international organisations. The Decision will apply as of 1 December 2024 at which point the Eurosystem national central banks are expected to comply with the two Guidelines. A related press release is available on the ECB’s website.