10 Colum. J. Eur. L. 405 (2004)
The purpose of the new ECB Regulation on minimum reserves is to amend current reserve legislation by delineating specific procedures for the calculation and maintenance of minimum reserves. The new legislation is an attempt to decrease uncertainty about the maintenance period for reserve calculation, while maintaining the provisions for stabilizing money market interest rates and enlarging structural liquidity shortages in the banking system. This Regulation, therefore, replaces past Regulations and amendments, bringing previous legislation together in a single text.