The Decisions adopted by the Governing Board on the occasion of its 304th regular meeting on 27 January 2005

Decisions adopted by the Governing Board on the occasion of its 304th regular meeting:

1. In its discussion of today´s session concerning an adjustment of instruments to the Eurosystem, the Governing Board of the Bank of Slovenia reduced the rate of reserve requirements pertaining to tolar liabilities with a maturity of up to 90 days from 4.5% to 2%. The Governing Board of the Bank of Slovenia thereby transferred the liquidity impact of this modification to the time period after adopting the euro. Thus, the rate of reserve requirements pertaining to all liabilities with a maturity of up to 2 years will amount to 2% from the period of calculation starting in end-February. The rate of reserve requirements pertaining to liabilities with a maturity of over 2 years continues to stay at 0%. Banks and savings banks will be under obligation to place their surplus liquidity arising from a reduction in reserve requirements in an amount of 37 billion tolars on a long-term deposit with the maturity date of 30 March, 2007, held with the Bank of Slovenia. The interest rate pertaining to the long-term deposit is by 0.2 percentage points higher than the one pertaining to 60-day tolar Bank of Slovenia bills.
   
2. The Governing Board of the Bank of Slovenia modified the Decision on Intraday Liquidity Loan by removing a penalty of 4% referring to a year-on-year level in case of converting unrecovered intraday liquidity loan into a lombard loan at a day´s close.