# Decision (EU) 2020/1264 of the European Central Bank of 8 September 2020 amending Decision (EU) 2019/1743 of the European Central Bank on the remuneration of holdings of excess reserves and of certain deposits (ECB/2020/38), Article 1: Amendment

Extent: E+W+S+N.I.

Article 2 of Decision (EU) 2019/1743 (ECB/2019/31) is replaced as follows:
‘Remuneration of certain deposits held with the ECB
Article 2 Accounts maintained with the ECB in accordance with Decision ECB/2003/14 of the European Central Bank, Decision ECB/2010/31 of the European Central Bank, Decision ECB/2010/17 of the European Central Bank and Council Regulation (EU) 2020/672 shall continue to be remunerated at the deposit facility rate. However, when deposits need to be held in those accounts in advance of the date on which a payment must be made in accordance with the legal or contractual rules applicable to the relevant facility, such deposits shall be remunerated during this advance period at zero per cent or the deposit facility rate, whichever is higher.’

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Source: https://www.legislation.gov.uk/eudn/2020/1264/article/1 (the official version)
Page: https://openlegislation.uk/eu-decision-2020-1264/article-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.