ECB: new jump in overnight deposits and marginal loans

Last Friday overnight loans at the European Central Bank increased further to €758,7 billion from 727,7 billion on Thursday. The data confirms the trend line by the lenders, which at this time, given the great uncertainty holding back the interbank market, prefer to deposit excess liquidity with the ECB, which offers a low yield (of 0,75%), rather than putting it into the real economy. Marginal loans, also on Friday evening, instead they made a real leap, rising to 11,784 billion compared to the previous 992 million. As part of the second 40 billion covered bond purchase program launched last November 3, according to data released by the ECB, purchases amounted to 8,658 billion on Friday evening.