De-euroisation chartpalooza | FT Alphaville

De-euroisation chartpalooza

In the recent years, the financial crisis has led to a marked deterioration in European financial integration…

You might say that’s a statement of the obvious from the ECB’s latest report on financial integration in the eurozone.

Some killer charts, though, on one of our fave themes. Here are three we liked (click to enlarge).

Eurozone banks’ holdings of cross-border debt:

Divergence in repo rates, exacerbated in late 2011 (before this happened):

And (quite a significant chart we think) the decline in cross-border collateral banks use in ECB liquidity ops.

Cross-border assets now take their lowest share of ECB collateral since 2005, the central bank says.

Worth taking in conjunction with this chart breaking down the changes in type of asset pledged at the ECB, via its study of bank funding patterns (hat-tip Tracy Alloway):

Bonus — geological strata-like — a chart of Eurosystem assets and liabilities over time:

Related links:
Collateral shifts in the eurozone – FT Alphaville
The “safety race” – Bond Vigilantes