Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

ECB bond tally creeps higher, bank deposits rise

Source: Reuters - Mon 21st Sep 2009

Overnight bank deposits at the European Central Bank rose, data showed on Monday, while the amount of covered bonds purchased by the ECB as part of its stimulus programme continued to creep up.

Banks deposited 88.997 billion euros at the ECB overnight on Sept. 20, compared to 80.330 billion euros deposited previously.

The amount banks borrowed from the ECB's overnight account also increased, rising to 148 million euros from 110 million euros previously.

The amounts parked at the ECB's deposit facility have been high since it flooded money markets with almost half a trillion euros in one-year funds at the end of June.

The ECB and the 16 euro zone national central banks are also buying euro-denominated covered bonds - debt backed by a pool of assets such as mortgage loans that remain on the issuing bank's balance sheet - over the next year, from both primary and secondary markets.

The ECB said the total purchased rose to 12.778 billion euros from 12.667 billion euros. It means the ECB is now more than 21 percent of the way through the 60 billion euros it has earmarked to spend.

Comment on this Story

Be the first to comment on this Story !!

Recommended Items