Archive - Aug 29, 2011 - Story
Even As Overnight Borrowing From ECB Drops To Zero, Bank Deposits With ECB Soar By €17.2 Billion To €121 Billion
Submitted by Tyler Durden on 08/29/2011 06:10 -0500
A quick update at the liquidity conditions in Europe comes courtesy of the ECB's posting of data on the Friday Marginal lending facility (aka emergency overnight) as well as the Deposit facility (last recourse cash dump), which paints a mixed picture. Because while the Marginal Lending saw its first zero usage, down from €1 million on Thursday, the lowest since August 5, Deposit Facility usage once again rose from €104 billion to €121.2 billion. The latter is a concern as it means that the only place that European banks would be willing to allocate excess capital, is the safety of the European money printing poliburo. Next up from the ECB we get data on SMP usage, i.e., secondary debt purchases, in the past week: somewhere between €10 and 15 billion, although it could easily be greater.
RANsquawk European Morning Briefing - Stocks, Bonds, FX etc. – 29/08/11
Submitted by RANSquawk Video on 08/29/2011 05:52 -0500A snapshot of the European Morning Briefing covering Stocks, Bonds, FX, etc.
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