Friday, December 30, 2011
European Banks Close 2011 With Near Record Cash On Deposit At ECB, €9 Billion Overnight Increase
In the last daily update of 2011, the ECB announced that European banks saw their usage of the central bank's deposit facility rise yet again following a modest drop the day before to fund some Italian bond purchases, and increased to just shy of the all tie record of €452 billion, at €446 billion, a €9 billion increase overnight. And while this is obviously not a seasonal pattern based on historical observations, nor is it banks holding their cash for 2012 auction use, as the carry
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