Related News
Overnight reserves growing
Source: Agencies |
March 7, 2009, Saturday
|
Print Edition
Print Edition
COMMERCIAL banks' overnight deposits at the European Central Bank inched further above the 100 billion euros mark, as commercial banks continued to hoard cash at the central bank.
The ECB said banks deposited 108.378 billion euros (US$129.5 billion) overnight at the central bank on March 5, up from the 102.987 billion euros reported on Thursday.
Banks also borrowed 809 million euros from the ECB's emergency overnight borrowing facility, compared with 83 million euros taken previously.
The rates on the ECB's overnight facilities will fall by 50 basis points on Wednesday, in line with the decision two days ago to cut interest rates to a record low.
This will take the overnight lending rate to 2.5 percent, from 3.0 percent now, and the deposit rate to 0.5 percent, from 1.0 percent.
The ECB said banks deposited 108.378 billion euros (US$129.5 billion) overnight at the central bank on March 5, up from the 102.987 billion euros reported on Thursday.
Banks also borrowed 809 million euros from the ECB's emergency overnight borrowing facility, compared with 83 million euros taken previously.
The rates on the ECB's overnight facilities will fall by 50 basis points on Wednesday, in line with the decision two days ago to cut interest rates to a record low.
This will take the overnight lending rate to 2.5 percent, from 3.0 percent now, and the deposit rate to 0.5 percent, from 1.0 percent.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
