24/04/2002 (Agence Europe) - At its meeting of 18 April, the Governing Council of the European Central Bank (ECB) adopted a new regulation relating to minimum reserves. In virtue of these new provisions, electronic money institutions will be subject to minimum reserve requirements. The regulation also provides for the automatic exemption of institutions from minimum reserve requirements in the even that their licence has been withdrawn as well as in the event that they are subject to winding-up proceedings. In addition, the formula covering the calculation of the remuneration of holdings of required reserves has been adjusted owing to the possibility of more than one main refinancing operation being settled the same day.