
Article 1 
Article 4(2) of Regulation (EC) No 1745/2003 (ECB/2003/9) is replaced by the following:
'
2. A reserve ratio of 1 % shall apply to all other liabilities included in the reserve base.'.
Article 2 

1. This Regulation shall enter into force on the third day following its publication in the Official Journal of the European Union.
2. Article 1 shall apply from the maintenance period starting on 18 January 2012.
Done at Frankfurt am Main, 14 December 2011.
For the Governing Council of the ECB
The President of the ECB
Mario DRAGHI