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ECB Says Banks’ Overnight Deposits Stay Close to Two-Week High

The European Central Bank said financial institutions’ overnight deposits stayed close to a two-week high.

Banks parked 164.1 billion euros ($223.4 billion) with the Frankfurt-based ECB yesterday, down from 165.1 billion euros the previous day. Euro-area banks increased overnight borrowing at the marginal rate of 2.25 percent to 726 million euros from 711 million euros the previous day.

The ECB currently lends banks unlimited liquidity in its refinancing operations at the benchmark rate of 1.5 percent.

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