ECB intervenes in money markets
The European Central Bank (ECB) injected tens of billions into the money markets on Thursday amid growing concerns over illiquidity.
The ECB lent €94.8 billion ($129.8 billion) to ensure orderly conditions in the euro money market, saying that it intended "to allot 100% of the bids it receives" for short term cash to shore up liquidity.
The ECB's actions followed a jump in the eurozone's overnight borrowing rate to 4.7%, 70 basis points above the ECB's basic financing rate, after BNP Pariba
More on Financial Stability
Latest issue
Most read
- Fintech in the ‘new era’ – Sustainable and sound development
- China’s macroeconomy in the ‘new era’ of politics and power
- A route to economic growth – The Belt and Road Initiative 2018 survey
- Policymakers should act now to prevent next crisis – IMF panellists
- ‘Regulatory equivalence’ not enough for post-Brexit UK CCPs – Cœuré
Back to Top