The central bank said today banks deposited 288 billion euros with it overnight, the most since Jan. 14. The ECB currently pays 0.25 percent on deposits. http://www.bloomberg.com/apps/news?pid=20601087&sid=awlglj0rbRfk Un-be-liev-able ! LOL ! 0.25 % on deposits !
Yep, but the majority of that is the money lent to the banks at 1% in the 1y LTRO. I think 75bps is a relatively small price to pay to have guaranteed ECB funding for 1 year, don't you?
Where is Weber these days? Hiding? I thought all these "gigantic" excess reserves (which could in turn well be dwarfed by future write downs) would find their ways into newly disseminated corporate and consumer credit in "record time", sowing the seeds of hyperinflation in Europe? What ever happened to all this nonsense?
Martinghoul, seriously, that´s simply inacceptable ! Politicians must put massive pressure on banks to get their job done !