ECB publishes indicative calendar for Governing Council Meetings and reserve maintenance periods in 2015

• ECB publishes new calendar for Governing Council meetings with six-week interval for monetary policy meetings
• Adjusted calendar for reserve maintenance periods in 2015
• The 12th reserve maintenance period of 2014 will be extended by 14 days and end on 27 January 2015

The European Central Bank (ECB) is publishing today an indicative calendar for the meetings of the Governing Council and for the reserve maintenance periods in 2015.

The Governing Council decided this month that meetings dedicated to monetary policy will be held every six weeks instead of once in a month, starting in January 2015.

As a consequence, the maintenance periods will be extended to about six weeks as well. The new calendar aligns the start of maintenance periods with possible implementation of monetary policy decisions. Credit institutions are required to hold a minimum amount – currently 1% of their reserve base – on their current accounts at the Eurosystem. This requirement must be fulfilled on average over the length of the maintenance period.

2015 Governing Council meetings (held at the ECB premises in Frankfurt unless indicated otherwise):

Taking into account this schedule the 12th reserve maintenance period of 2014 will be extended by 14 days and end on 27 January 2015 and the indicative calendar for the reserve maintenance periods in 2015 is as follows.

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