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01.10.2009

Emergency liquidity measures being reviewed in light of improving market conditions

Banks are starting to lend to each other again as market liquidity continues to reach records levels, due in most part to Central Bank market operations in the first half of 2009

From the FT "Banks sought just €75.2bn ($110bn, £68.7bn) of 12-month liquidity in this week's operation. That compared with €442bn demanded in the first such auction in June, the largest amount ever allocated in a single ECB operation"

As at 25th September, Eonia was quoted at 0.342 and 3Month Euribor was quoted at 0.7457, a spread of .4037, which is almost half the spread compared to the height of the crisis at 0.756 - see our earlier news article on the 24th January 2009

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