Bloomberg News

ECB Says Euro Banks’ Overnight Deposits Jumped to 16-Month High

November 04, 2011

Nov. 4 (Bloomberg) -- The European Central Bank said financial institutions in the euro area increased their overnight deposits with it to the highest level in more than 16 months.

Banks parked 275 billion euros ($380 billion) with the Frankfurt-based ECB yesterday, up from 253 billion euros on the previous day. That’s the most since June 30, 2010. Banks also borrowed 1.3 billion euros at the marginal rate of 2.25 percent, up from 1.2 billion euros the previous day.

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

To contact the editor responsible for this story: Matthew Brockett at mbrockett1@bloomberg.net


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