ECB Says Banks’ Overnight Deposits Rose to Three-Week High

The European Central Bank said financial institutions in the euro area increased their overnight deposits with it to the highest in more than three weeks.

Banks parked 253 billion euros ($347 billion) with the Frankfurt-based ECB yesterday, up from 229 billion euros the previous day. That’s the highest since Oct. 10. Banks borrowed 1.2 billion euros at the marginal rate of 2.25 percent, down from 1.3 the day before.

To contact the reporter on this story: Jeff Black in Frankfurt at jblack25@bloomberg.net

To contact the editor responsible for this story: Simone Meier at smeier@bloomberg.net

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