Effective from 23 March 2015, the monetary-policy counterparties' current-accounts limits will be increased from kr. 145 billion to kr. 173 billion.
In the current situation with negative interest rates and a large difference between Danmarks Nationalbank's interest rates, more banks other than just the most active money market participants have a need for higher current-account limits.
Up until now, Danmarks Nationalbank has allocated the current-account limits based on the banks' statistics of their activity in the Danish money market. Going forward, Danmarks Nationalbank will supplement this assessment with a calculation of the banks' need to place funds based on the banks' deposit.
The change implies that the individual current-account limit will be increased for a number for banks.
It is crucial that the monetary-policy counterparties' holdings of certificates of deposits are sufficient to ensure the transmission from Danmarks Nationalbank's interest rates to the money-market rates. The adjustment of the current-account limits does not change the fact that this is still the case.
Enquiries can be directed to Karsten Biltoft on tel. +45 3363 6021.