Banks' Overnight Deposits With ECB Hit New Record

Bond action in the Eurozone has modestly picked up (yields steady or falling) since the ECB's 3-Year LTRO program - Long Term Refinance Operation. However, European banks still do not trust each other, not even for overnight lending. Instead, banks park all available funds with the ECB, as noted by the Wall Street Journal in Deposits at ECB Hit Record High.

Crisis-hit eurozone banks parked a record 528.18 billion euros ($675.60 billion) overnight at the European Central Bank, data showed on Wednesday, suggesting the crucial interbank market is clogged.Banks have been stashing record sums almost daily at the ultra-safe ECB, nervous of lending to each other, despite the fact they earn only a miserly 0.25 percent for their deposits at the central bank.The previous record was published only on Tuesday, when banks parked 502 billion euros overnight.

Banks' deposits with the European Central Bank have hit yet another record, data showed on Monday, suggesting ongoing tension in the financial system despite unprecedented liquidity injections.Banks in the eurozone put 493.3 billion euros ($623.7 billion) on deposit for 24 hours at the ECB overnight Sunday, topping the record set Friday of 489 billion euros.

Banks' deposits with the European Central Bank have hit yet another record, data showed on Monday, suggesting ongoing tension in the financial system despite unprecedented liquidity injections.Banks in the eurozone put 493.3 billion euros ($623.7 billion) on deposit for 24 hours at the ECB overnight Sunday, topping the record set Friday of 489 billion euros.

Cyprus agreed to the outlines of an international bailout, paving the way for 10-billion euros (US$13-billion) of emergency loans and eliminating the threat of default. The accord between Cyprus and the “troika” representing international lenders was reached in overnight talks in Brussels and ratified by finance ministers from the 17-nation euro area. “It’s in best interest of the Cyprus people and the European Union,” Cyprus President Nicos Anastasiades told reporters.

Banks left a record euro820.8 billion ($1.08 trillion) on deposit overnight at the European Central Bank on Friday.The figures released Monday exceeded the record euro776.9 billion deposited Thursday and ...

Euro-zone banks' overnight deposits with the European Central Bank hit yet another all-time high, likely reflecting continued funding pressures in the banking sector.