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Overnight deposits at ECB hit another record

Overnight deposits at ECB hit another record

Banks left a record (EURO)820.8 billion ($1.08 trillion) on deposit overnight at the European Central Bank on Friday.
The figures released Monday exceeded the record (EURO)776.9 billion deposited Thursday and reflects the flood of cash released into the European banking system by the central bank.
The ECB made just over (EURO)1 trillion in cheap, three-year loans to banks in two offerings Dec. 21 and Feb. 29, leaving the system flush with ready money.
Banks can park excess cash temporarily at the central bank, earning a low 0.25 percent interest.


Updated : 2021-04-19 20:37 GMT+08:00