Bloomberg News

ECB Drains 163 Billion Euros in Deposits to Offset Bond Program

October 11, 2011

Oct. 11 (Bloomberg) -- The European Central Bank said it drained 163 billion euros ($223 billion), to offset the extra liquidity created by its government bond purchases.

The Frankfurt-based central bank said that 108 banks submitted bids totalling 242 billion euros.

To contact the editor responsible for this story: Gabi Thesing at

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