Overnight deposits with the ECB hit a new record: 453,181 billion euros, from 446,262 billion
last Monday. The previous record was reached last week at 452,034 billion.
Deposit levels have been high since August 2011, as banks started depositing excess liquidity with the ECB instead of providing interbank loans, due to fears related to the debt crisis.
Meanwhile, le banks borrowed 15,012 billion in the overnight auction, a level slightly higher than yesterday's 14,825 billion, at an interest rate of 1,75%.
