ECB Overnight Deposits Reach Over One Half Trillion Euros
Europe’s banks continue to refuse to loan money to one another–even overnight. Deposits at the ECB reached over a half a trillion yesterday–a record. The trend will probably reverse itself, but most likely only temporarily as financial firms in the…
Europe’s banks continue to refuse to loan money to one another–even overnight. Deposits at the ECB reached over a half a trillion yesterday–a record. The trend will probably reverse itself, but most likely only temporarily as financial firms in the region eschew risk
According to Reuters
The end of the ECB’s monthly reserves cycle – the point when banks have fulfilled their ECB targets and have few options to juggle their funding – ends on Tuesday. Deposits traditionally drop when the new reserves cycle begins and banks have more funding freedom.
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