Discover and read the best of Twitter Threads about #Eurosystem

Most recents (2)

[1/๐Ÿงต] "#ISO20022 is bigger than you think"

You've probably heard that term a few times and wondered what it meant. ๐Ÿค”

In case you are curious now:

A brief explanation of everything important.
There will be nothing complicated ahead, so don't worry. ๐Ÿงต๐Ÿ‘‡ Source: https://topiacoin.io/es/cbpr-iso-20022-for-dummies/
[2/24] โ€” Outline โ€”

๐Ÿ”น Origin & Timeline
๐Ÿ”น What's the big deal?
๐Ÿ”น Details regarding the transformation
๐Ÿ”น Migration Approaches
๐Ÿ”น Relations to #Crypto (#DTI)
๐Ÿ”น @Ripple & #JSON formats Source: https://www.cryptopolitan.com/iso-20022-compliant-cr
[3/24] โ€” Origin & Timeline โ€”

The #ISO 20022 standardization efforts began very early on. Indeed, you may be wondering how you missed it until this date. ๐Ÿ˜… Source: https://www.slideserve.com/bevis/iso-20022-unifi-pow
Read 26 tweets
A barely known fact when it comes to the @ECB's recent interest rate hikes: Banks are now being subsidized for doing nothing.

Yes, read that again: Commercial banks connected to the #Eurosystem GAIN interest by NOT lending their money!

A ๐Ÿงต on why that is and why it's dumb.
The ECB's monetary policy toolbox comprises, among other things, three dedicated interest rates:
1. The Main Refinancing Operations (MRO) rate, currently at 1.25%
2. The rate of the Marginal Lending Facility, currently at 1.5%
3. The Deposit Facility rate (DFR), now at 0.75%
The former two rates apply when banks acquire loans from the ECB and have to pay interest on those loans. These have never been below 0%.

The latter rate, as the name suggests, applies on the money (excess reserves) a bank deposits at the ECB, i.e. money not used otherwise.
Read 14 tweets

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