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Q: Review to last until end of year - how.......>

ECB
ECB: Q: Review to last until end of year - how will you mitigate uncertainty in
the meantime? Will the ECB be able to act in this period?
- A: It will be over when it is over. Expectation at this point it will take a
year and hope around Nov/Dec for conclusion. In the meantime irrespective of
deliberations and engagement with academics, parliaments etc which will keep
people busy, the ECB will conduct the same usual monitoring, analyzing and
drawing conclusion about macro, monpol and market situations. Conclusions will
be independent from start review.
- Q: What has the ECB learnt from tiering so far. What are costs/benefits to
changing pool of exempted deposits or raising rate on them?
- A: Were some GC members who were a little skeptical. Unanimous view is tiering
system is working extremely well. No discussion over changing 6x tiering
multiplier.

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