ECB leaning against minimum reserve increase, Bloomberg says

The European Central Bank is leaning against any change to its minimum reserve requirement for banks as a push by some hawks to increase the current 1% rate has struggled to gain momentum, Mark Schroers and Alessandra Migliaccio of Bloomberg report, citing people with knowledge of the matter. This removes “for now the threat of a hit to banking profitability the industry had been fretting over,” according to Bloomberg. Publicly traded companies in the space European bank space include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS).