Euro money market statistics: second maintenance period 2022

May 10, 2022

unsecured market

In the second maintenance period of 2022, which started on March 16, 2022 and ended on April 19, 2022, loan turnover in the unsecured segment averaged €137 billion per day. The total volume of debt for the period as a whole was 3,150 million euros. Indebtedness with credit institutions, that is, in the interbank market, represented a turnover of 252,000 million euros, that is, 8% of the total volume of indebtedness. Loans to credit institutions amounted to €183 billion. Overnight loan operations represented 70% of the total nominal amount of the loan. The weighted average overnight interest rate for borrowing operations was -0.58% for the interbank sector and -0.56% for the wholesale sector, compared to -0.57% and -0.56 %, respectively, of the previous maintenance period.

assured market

In the second maintenance period of 2022, borrowing turnover in the secured segment averaged €404 billion per day, while total borrowing turnover for the period as a whole was €9,298 billion. The cash loan represented a turnover of €7,752 billion and the daily average amounted to €337 billion. Most of the trading volume was concentrated in tenors ranging from one day to one week, with overnight transactions accounting for around 27% and 23% of the total face amount on the loan and lending side, respectively. The weighted average overnight interest rate for lending and borrowing transactions was -0.64% and -0.68% for the wholesale sector, respectively, compared to -0.63% and -0 .68% of the previous maintenance period. In the second maintenance period of 2022, the weighted average interest rate for spot/next loan operations ranged from -0.63% for operations based on guarantees issued in Italy to -0.86% for operations based on guarantees issued in Italy. operations based on guarantees issued in Germany.

Table 1

Euro money market statistics

Turnover (billions of euros)

Average O/N rate (percentages)

Daily average

Total

PM 1 2022

MP2 2022

PM 1 2022

MP2 2022

PM 1 2022

MP2 2022

Unsafe

loans, wholesalers

138

137

3,455

3,150

-0.56

-0.56

Of which interbank

12

eleven

292

252

-0.57

-0.58

interbank loans

7

8

178

183

-0.43

-0.42

insured

loans, wholesalers

429

404

10,723

9,298

-0.63

-0.64

loan, wholesale

351

337

8,764

7,752

-0.68

-0.68

For media inquiries, please contact Philip RispalPhone: +49 69 1344 5482.

grades

  • Money market statistics are available from the ECB’s Statistical Data Warehouse.
  • The Eurosystem collects transaction-by-transaction information from the 47 largest banks in the euro area in terms of total assets on the banks’ main balance sheet, broken down by their borrowing and lending to other counterparties. Unsecured transactions include all operations carried out through deposits, sight accounts or short-term securities with financial companies (except central banks where the operation is not for investment purposes), general government, as well as with non-financial companies classified as “wholesalers” under the Basel III LCR Framework. Secured transactions cover all fixed-term and open-ended repurchase agreements and transactions entered into under such agreements, including tripartite repo transactions, denominated in euros with a maturity of up to one year, between the reporting agent and the financial companies (except central banks in which the transaction is not for investment purposes), public administrations and non-financial companies classified as wholesalers within the framework of the Basel III liquidity coverage ratio. As of the first maintenance period of 2019, the wholesale sector covers all counterparties of the sectors listed above. More information on the methodology applied, including the list of reporting agents, is available in the statistics section of the ECB website.
  • The weighted average rate is calculated as the arithmetic mean of the weighted rates times the respective nominal amount during the maintenance period on all days on which TARGET2, the automated real-time trans-European gross settlement express transfer system, is open.
  • Loans refer to transactions in which the reporting bank receives funds denominated in euros, regardless of whether the transaction was initiated by the reporting bank or its counterparty.
  • Loans refer to transactions in which the reporting bank provides euro-denominated funds, regardless of whether the transaction was initiated by the reporting bank or its counterparty.
  • The terms O/N, T/N, Y/N, 1W, 3M, 6M and 12M refer, respectively, to the night, tomorrow/next, spot/next, one week, three months, six months and twelve months.
  • Collateral-issuing country refers to the collateral-issuing jurisdiction used for transactions secured by a single collateral identified by an International Securities Identification Number.
  • Missing values ​​for terms in some of the reserve holding periods may be due to confidentiality requirements.
  • In addition to developments in the latest maintenance period, this news release incorporates minor revisions to data from prior periods.
  • Data is published 15 business days after the end of each maintenance period. The publication calendar and the indicative calendars of the Eurosystem’s reserve maintenance periods are available on the ECB’s website.
  • The next press release on euro money market statistics will be published on July 5, 2022.

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