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11 January 2019

ECB publishes first statistics on secured euro money market


The data series include information on the total turnover and average rate for the 2018 maintenance periods, broken down by transaction type and maturity. The statistics are based on data from the 50 largest euro area banks. By publishing these figures, the ECB aims to enhance market transparency and therefore improve money market functioning.

Unsecured market

In the latest maintenance period, which started on 31 October 2018 and ended on 18 December 2018, the borrowing turnover in the unsecured segment averaged €120 billion per day. The total borrowing turnover for the period as a whole was €4,207 billion. Borrowing from credit institutions, i.e. on the interbank market, represented a turnover of €394 billion, i.e. 9% of the total borrowing turnover, and lending to other credit institutions amounted to €250 billion. Overnight borrowing transactions represented 51% of the total borrowing nominal amount. The weighted average overnight rate for borrowing transactions was -0.42% for the interbank sector and -0.41% for the wholesale sector, compared with -0.43% and -0.41% respectively in the previous maintenance period.

Secured market

In the latest maintenance period, the borrowing turnover in the secured segment averaged €314 billion per day, while the total borrowing turnover for the period as a whole was €10,992 billion. Cash lending represented a turnover of €9,030 billion and the daily average amounted to €258 billion. Most of the turnover was concentrated in tenors ranging from overnight to up to one week, with overnight transactions representing around 22% and 26% of the total nominal amount on the borrowing and lending side respectively. The weighted average overnight rate for borrowing and lending transactions was, respectively, -0.51% and -0.52% for the wholesale sector (which includes banks, the government sector and corporations).

Press release

Full statistics



© ECB - European Central Bank


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