Bloomberg News

ECB Says Banks Reduced Overnight Borrowing to 1.9 Billion Euros

October 27, 2011

Oct. 27 (Bloomberg) -- The European Central Bank said euro- area banks reduced their emergency overnight borrowing.

Financial institutions borrowed 1.9 billion euros ($2.7 billion) from the Frankfurt-based central bank at a rate of 2.25 percent, down from 3.5 billion euros the previous day. Banks also parked 204.4 billion euros with the ECB overnight, up from 201 billion euros the day before.

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