the period over which compliance with reserve requirements is calculated. The maintenance period for ESCB minimum reserves would be one month, starting on a fixed day of each month (e.g. the maintenance period may start on the 24th of each month and end on the 23rd of the following month).
Credit institutions located in Greece and branches in Greece of credit institutions (hereafter "institutions located in Greece") shall be subject to minimum reserve requirements from 1 January 2001. A transitional maintenance period shall run from 1 January 2001 to 23 January 2001 for the institutions located in Greece. The maintenance period applicable to institutions located in other participating Member States in accordance with Article 7 of ECB Regulation (EC) No 2818/98 shall remain unaffected by the existence of a transitional maintenance period for institutions located in Greece.
1. Credit institutions: ... 1.2. Shall calculate the reserve requirement for the following month on a semi-lagged basis, based on the previous month's end and current month's 10th and 20th calendar day balance sheets. ... 2. The minimum reserve maintenance period starts from the first banking day of each month and lasts till the last calendar day of the month.
