Adjustment of the Bank of Greece minimum reserve system to the one applied by the European Central Bank

The Monetary Policy Council of the Bank of Greece, by its Act no. 41/23 November 2000:

established a transitional regime that will govern credit institutions’ minimum reserves with the Bank of Greece for the period up to 31 December 2000, with a view to ensuring a smooth transition to the minimum reserve system applied by the European Centrel Bank (ECB);

clarified that, as from 1 January 2001, the minimum reserves of credit institutions located in Greece shall be subject to the general provisions of ECB Regulations.