Use Of ECB's Marginal Lending, Deposit Facilities Up Wed
Thursday December 4th, 2008 / 9h43
FRANKFURT -(Dow Jones)- Banks used the European Central Bank's one-day marginal lending and deposit facilities for higher amounts Wednesday than the previous day, ECB data showed Thursday. One or more banks borrowed a total of EUR1.953 billion Wednesday, compared with EUR1.165 billion Tuesday, the ECB said. Banks, meanwhile, parked a total of EUR231.618 billion Wednesday, compared with EUR217.400 billion Tuesday, it added. The ECB's marginal lending facility is available at an above-market rate of 3.75%, while the deposit facility is at a below-market rate of 2.75%. In comparison, euro-zone interbank overnight rates traded at 2.9% at 0718 GMT, unchanged from Wednesday's close. The ECB doesn't reveal the name and number of banks using the facilities. The heavy use, however, signals that there is a continuing mismatch between lenders and borrowers. Web site: www.ecb.int -By Emese Bartha, Dow Jones Newswires; +49 69 2972 5516; emese.bartha@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=G8rN%2BJs%2FXaaSgxy4%2FPCYtg%3D%3D. You can use this link on the day this article is published and the following day.
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