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ECB Discount Window Borrowings Surge
The ECB's equivalent of the Discount Window, the Marginal Lending Facility, has seen a spike in borrowings over the past two weeks. As of May 12, total borrowings were €4 billion, after hitting €4.4 billion the night before, the second highest amount borrowed by European banks since an errant print of €5.2 billion in January 19, which was more of a liquidity rebalancing instead of an actual indication of short-term liquidity demand. As we disclosed previously, we are keeping a close eye on this indicator as it is the best determination of the funding and liquidity problems gripping Europe. And as the chart shows, beginning in May, more and more banks are now relying on the ECB for overnight liquidity.
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I'm so sick of this. Nothing can fail anymore. Euro banks buy garbage bonds, require a bailout that we have to fund. Save the Euro? How bout' save the Euro bankers. Would it fucking kill them to tel the truth for once. Don't they know we read Zerohedge and will figure it out eventually?
Again, these people deserve to have the whole system collapse. Nothing would make me happier then to see it happen, just to see them get buried once.
I'm getting the gut feeling that the ponzi games have begun to lose their effectiveness.
+1. Amen. It would be about time.
And in the meantime according to CNBC German Lawmaker Calls for Trichet's Resignation
http://www.cnbc.com/id/37151238
ZH and/or TD: Has anyone ever suggested ZHchannel for cable?
An actual truth based channel would be a remarkable achievement. Might be tough getting past the FCC, but if you gave them the address of the SEC, they could spend all their time downloading porn and you sneak around their stupid, drooling faces. Just a suggestion.
brilliant idea cossack55. i would donate 50k of my own hard earn dollars to that cause.
Add it to Roku.
Hell yeah.
And you could be sure that it would out-do CNBC on the babe factor by at least 10x.
The effectiveness now is a 4 hour buzz, the only problem is, they own the pharmacy..I see an overdose in the future..
More cash to gun the junkers!
"German Chancellor Angela Merkel conceded over the weekend that package was no more than a band-aid solution to the problems afflicting a number of eurozone countries, from Ireland all the way across to Greece".
Could the Euro short cover be starting? Looks like a mass exodus to the buying stage all of a sudden. There were an enormous amount of short contracts.
Nah, looks like the goose move again for artificial propping.
This is another evidence that LIBOR, TED spread, OIS spread, or whatever is not a reliable measure anymore.
You need public funds? Fine. But that means you're essentially insolvent. Wipe out your shareholders and you can have access to public funds.
Deal?
Swap lines open?
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