The European Central Bank (ECB) has published the indicative calendars for the Eurosystem’s regular tender operations and reserve maintenance periods in 2020.
The indicative calendar for the Eurosystem’s regular tender operations includes only main refinancing operations (MROs) and three-month longer-term refinancing operations (three-month LTROs). It does not include any supplementary or ad hoc operations which may be carried out in 2020. The calendar can be downloaded from the ECB’s website.
Some 251,000 counterfeit euro banknotes were withdrawn from circulation in the first half of 2019, a decrease of 4.2% when compared with the second half of 2018 and 16.6% less than in the first half of 2018. The likelihood of receiving a counterfeit is very small indeed as the number of counterfeits remains very low compared with the number of genuine banknotes in circulation, which has risen steadily at rates in excess of GDP growth since they were first introduced. In 2018 the number and value of euro banknotes in circulation grew by around 5.6% and 5.2%, respectively. There are now over 22 billion euro banknotes in circulation, with a total value of around €1.2 trillion.
The European Central Bank (ECB) has decided that as of the start date on 2 October 2019 the euro short-term rate (€STR) will be published at 08:00 CET on each TARGET2 business day. If errors are detected following the publication of €STR that affect €STR by more than 2 basis points, the ECB will revise and re-publish €STR on the same day at 09:00 CET. No changes will be made to €STR after that time. €STR will be published on the ECB’s website, via the Market Information Dissemination (MID) platform, and through the ECB’s Statistical Data Warehouse. Technical specifications for the rate publication will be made available in September 2019.
On 6 June 2019 the Governing Council approved key parameters of the third series of targeted longer-term refinancing operations (TLTRO III). These operations, announced on 7 March 2019 and to start in September 2019 and end in March 2021, with a maturity of two years each, will apply an interest rate for each operation set at 10 basis points above the average rate applied to the Eurosystem’s main refinancing operations (MROs) over the life of the respective TLTRO. The rate applied to TLTRO III operations will be lower for counterparties whose eligible net lending between the end of March 2019 and the end of March 2021 exceeds their benchmark net lending. More detailed information on these technical parameters can be found in a related press release available on the ECB’s website.