In light of this, the Bank will raise the amount of current account balances to which a zero interest rate is applied (“Macro Add-on Balances”) at certain intervals – for example, once every three months – in an incremental manner in order to keep the amount of current account balances to which a negative interest rate is applied (“Policy-Rate Balances”) more or less unchanged.
By doing so, the amount of current account balances on which financial institutions incur negative interest will be kept to the minimum necessary to achieve the objectives of the negative interest rate policy.