Nel 2007 le operazioni sono state condotte mediante aste a tasso variabile con un tasso minimo di offerta, che è il tasso di riferimento della BCE. ###>However, after the turmoil in financial markets had spilled over into the overnight euro money market on the morning of 9 August 2007, it appeared that credit institutions developed a preference for fulfilling their reserve requirements relatively early in the maintenance period against the background of indications of decreasing turnover in longerterm money market segments.