Euro zone banks fully utilizing ECB's two-tier rate scheme
Share:
FRANKFURT (Reuters) - Euro zone banks are making almost full use of the European Central Bank's two-tier deposit facility as they have redistributed excess liquidity to take advantage of an exemption from the most punitive charges, the ECB said on Friday.The ECB introduced the facility on Oct. 30 to relieve some pressure on bank earnings from its minus 0.5% deposit rate, which functions as a charge on the more than 1.5 trillion euros worth of excess liquidity banks hoard.Under the system, up to..