Probably not surprising in light of Friday’s market turmoil and bank rumours, but still interesting; overnight deposits at the ECB have hit a new record of €350bn on Friday.
From Reuters:
Use of overnight loan facility €9 vs €315
Use of overnight deposit facility €350,903 vs €299,471
Total covered bond purchases €55,848 vs €55,416
And in graphical form (click to enlarge):
(Recall, that the banks parking cash here receive a submarket 0.25 per cent, compared with the 0.32 per cent on offer in the money markets).
Related links:
Another week another euro panic – FT Alphaville
Forget Club Med, Hungary might be next – FT Alphaville
Euro stronger than mark proves Trichet currency stays – Bloomberg
Wolfgang Munchau: Frankfurt should shed shroud of secrecy – FT