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Bank Deposits At ECB Rise To Record High

Overnight deposits of banks at the European Central Bank hit a record high after its long-term refinancing operation last week, the central bank data showed Monday.

Banks' deposited a record EUR 820.8 billion at the ECB as on March 4. The amount exceeded prior day's EUR 776.9 billion.

Meanwhile, banks borrowed EUR 783 million from the ECB on Friday.

The central bank on February 29 provided a record EUR 529.53 billion in the 1092-day long term refinancing operation (LTRO) for banks to limit the threat of a credit crunch.

by RTTNews Staff Writer

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