International Monetary Fund / Monetary and Capital … - 2019
money market. In 2014, when the European Central Bank (ECB) cut the deposit facility rate below zero, the CBBH decided not … to follow the ECB in the remuneration of reserve requirements and to floor such remuneration to zero. Subsequently, in … 2016, the CBBH decided to remunerate excess reserves at 50 percent of the ECB deposit facility rate and to continue …