Bank reserves in the Eurosystem (minimum reserve requirements and excess reserves)

Data on the current maintenance period

  • Required minimum reserves*

    19.271 mln
    Maintenance period from 30.07.2025 to 16.09.2025

  • Current account balance**

    19.988 mln
    Data at 01.09.2025
*Minimum reserve requirements for banks operating in Italy during the current maintenance period.
**Daily averages of the current accounts with the Bank of Italy within the current maintenance period.

Monetary policy is conducted by managing central bank liquidity (bank reserves), which is made available to the banking system that features a structural liquidity deficit stemming from the obligation to comply with minimum reserve requirements and from autonomous factors.

The size of the minimum reserve requirement to be held as an average over the maintenance period is calculated as a percentage of specific liabilities in credit institutions' balance sheets, to which given rates are applied.

Credit institutions' deposits on reserve accounts with the central bank that are above minimum reserve requirements are defined as excess reserves. Excess liquidity is made up of the sum of excess reserves and the overnight deposits made using the central bank's deposit facility.

Further information on the liquidity conditions is available on the ECB's website. See the section on liquidity analysis.