The Bank of Italy has simplified the framework for remunerating excess reserves, in line with the European Central Bank Governing Council's December 2025 decision, so that from 17 June 2026 excess reserves held by monetary policy counterparties that qualify for access to the deposit facility, above minimum reserve requirements, will be remunerated at the deposit facility rate.
Bank of Italy2026-05-20
Bank of Italy simplifies excess reserve remuneration and applies the deposit facility rate from 17 June 2026
The Bank of Italy has simplified its framework for remunerating excess reserves in line with the European Central Bank Governing Council’s December 2025 decision. From 17 June 2026, excess reserves held by monetary policy counterparties with access to the deposit facility, above minimum reserve requirements, will be remunerated at the deposit facility rate.