DATA - Reserve maintenance

Reserve maintenance
Annual average	2021	2022	2023	May 24	June 24	July 24	Aug. 24	Sep. 24	Oct. 24

	EUR million

Required reserves	4,462	4,724	4,784	x	4,669	4,781	x	4,740	4,726
Actual reserve holdings	126,900	98,449	5,124	x	4,830	4,877	x	4,832	4,821
Excess reserves	122,437	93,725	340	x	161	96	x	91	95
Exemption allowance	26,773	28,208	x	x	x	x	x	x	x
Exempted excess reserves	26,691	28,149	x	x	x	x	x	x	x
Non-exempted excess reserves	95,746	97,368	x	x	x	x	x	x	x
Shortfall	0	0	0	x	0	0	x	0	0
Interest rate on minimum reserves %	x	x	x	x	0.00	0.00	x	0.00	0.00
Remuneration of excess reserves in %	x	x	x	x	0.00	0.00	x	0.00	0.00

Source: OeNB.

Owing to changes in the operational monetary policy framework, there was no maintenance period that ended in February 2004.
This table contains full data for the completed maintenance periods. In July 2014, the Governing Council decided 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, meaning that minimum reserve requirements must be fulfilled eight times a year as of 2015.
Between the 7th maintenance period 2019 and the 6th maintenance period 2022, the interest rate on excess reserves that fall below six times the level of minimum reserve requirements was 0%. During this period, excess reserves were therefore further split into those that fall below this threshold (exempted excess reserve) and those that exceed it (non-exempted excess reserves).