This page has been archived and commenting is disabled.

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 07:10 -0400

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.

- advertisements -

Mon, 08/29/2011 - 07:12 | 1611125 Long-John-Silver

Bitchquidityz!

Mon, 08/29/2011 - 07:15 | 1611128 MarketTruth

Money for nothing and endless USD and Euro for free. Face it, the monetary system is a sad joke and eventually the FAITH in FIAT will be nil. It is all a CONfidence game.

Mon, 08/29/2011 - 07:15 | 1611127 Sudden Debt

Europe doesn't seem to care and the markets are still on viagra.

Mon, 08/29/2011 - 07:17 | 1611130 Dick Darlington

Italian gubbermint bonds started to melt down this morning, as usual, and the money printer scrambled to contain the situation. Get ready for the italian 10yr yield to rise back to above 6% soon. There's no way out from the dark and the little candle can give u light only for so long...

Mon, 08/29/2011 - 07:21 | 1611132 Sudden Debt

Face, we'll only have elections in Europe in 2012.

So untill than, the markets will be taken care off with taxmoney. Futur taxmoney that is.

So untill June 2012, I don't expect any real problems to persist.

Mon, 08/29/2011 - 07:19 | 1611131 MadMonkIvan

Date scale along the chart axis seems to say 2001?!

Mon, 08/29/2011 - 10:47 | 1611639 Mauibrad

It's 2011. You can click on the chart to get it larger.

Mon, 08/29/2011 - 07:23 | 1611133 props2009

S&P, Gold trades posted at http://capital3x.com/?p=481

Mon, 08/29/2011 - 07:26 | 1611134 EasterBunny

yes, noticed that too

Mon, 08/29/2011 - 07:29 | 1611136 props2009

Irene damages pictures...water still gushing in

http://capital3x.com/?p=491

Mon, 08/29/2011 - 07:34 | 1611144 Sudden Debt

To much attention goes to that little storm.

It's nothing more than a PR campaign for Obama to show that he's more prepared than Bush was during Katrina.

Yes there was some damage, but day to day casualties that happen every day where used to put in a "Irene casualty list"? COME ON! THAT'S EVEN LESS PEOPLE DYING THAN IN A NORMAL WEEKDAY DUE TO ACCIDENTS!

Mon, 08/29/2011 - 07:48 | 1611157 MassDecep

Last week the bank crisis and Sovereign Debt crisis in Europe was so urgent Sarkozy and Merkel returned from month long vacations to meet with each other this week. Outcome? Silence. What happened to the pending overnight collapse of Societe General (France) and UniCredit (Italy)? Did they receive still more injections of Fiat Funds?

Mon, 08/29/2011 - 10:06 | 1611493 Rick64

It seems they are getting ready to do some fractionalized reserve banking majic. 121 Billion euros becomes a Gazillion. Ta da!

Even As Overnight Borrowing From ECB Drops To Zero, Bank Deposits With ECB Soar By €17.2 Billion To €121 Billion

Comment viewing options