
How the ECB’s ‘deposit facility’ subsidises banks
Banks profit from the European Central Bank’s interest-rate policy at the expense of taxpayers.
Author profile

David Hollanders is a lecturer in economics in the Department of European Studies at the University of Amsterdam.

Banks profit from the European Central Bank’s interest-rate policy at the expense of taxpayers.

The ECB has taken upon itself to challenge the Spanish government over a temporary tax on the profits of commercial banks.

As of this January 1, the Netherlands holds the Presidency of the European Union. This is a good occasion to put the spotlight on a