Thirteen economists and members of the European Parliament sent an open letter to the Governing Council of the European Central Bank (ECB) on Wednesday 24 January, calling for a review of the reserve requirements for commercial banks in the euro area and an increase in the percentage of non-interest-bearing reserve requirements.
The signatories of the appeal coordinated by Positive Money Europe point out that the record level of the deposit facility rate (4%) comes at a time when...