We have analyzed the leakage behavior of polycrystalline MOCVD (Ba,Sr)TiO3 thin films as a function of both temperature and field. Of the possible mechanisms, thermionic (Schottky) emission gives a self-consistent description of the temperature and field dependencies of the true leakage current for fields in the range of 240–970 kV/cm, and yields realistic barrier heights of 1.2 eV for Pt as the cathode material. For film thicknesses of interest for use in DRAMs, the capacitance-voltage characteristics are explained via Landau-Ginzburg-Devonshire theory. Preliminary resistance degradation studies are also discussed.