Bloomberg News

ECB Says Overnight Deposits Increased to 105.5 Billion Euros

October 13, 2011

Oct. 13 (Bloomberg) -- The European Central Bank said overnight deposits increased after the end of the maintenance period.

Euro-region banks parked 105.5 billion euros ($145.6 billion) at the Frankfurt-based central bank on Oct. 12, up from 62.2 billion euros on the previous day, the last day of the maintenance period. Financial institutions borrowed 3 billion euros at the marginal rate of 2.25 percent, down from 4.2 billion.

Banks need to hold a certain amount of reserves on average during an ECB maintenance period. This results in fluctuations at the end of the period as lenders seek to balance

their accounts.

Link to Statement:{NSN LSZTE83QDNUO <GO>}

To contact the reporter on this story: Jeff Black in Frankfurt at jblack25@bloomberg.net

To contact the editor responsible for this story: Simone Meier at smeier@bloomberg.net


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