The ECB pays the Repo Rate on required reserves. This is currently 1% but was 1.5% three months ago.

It also pays 0.25% for excess reserves. This was 0.75% when the repo rate was 1.5% because the ECB likes cutesy rules of thumb like constant-width bands around its repo rate.

There are three stories about the euro crisis: the Republican story, the German story, and the truth. -- Paul Krugman