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Two-Tier System for Remunerating Excess Reserve Holdings

ECB Occasional Paper No. 2022/302
Number of pages: 53 Posted: 13 Sep 2022
European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Morgan Stanley, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB) and European Central Bank (ECB)
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Abstract:

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excess liquidity, exemption scheme, monetary policy transmission, negative interest rates, two-tier system