Bank deposits at ECB inch down to 222 bln euros.

Banks deposited 222.229 billion euros at the ECB overnight as of Nov. 24, down from the 224.193 billon euros reported on Monday and below the record high of 297.424 billion set earlier in the month. See Reuters information page for full details.The amount is still more that a quarter of the 801.5 billion euros the ECB has outstanding in open market operations as nervous banks continue to hoard money rather than lend in on in interbank markets in fear that a borrower could become the next casualty of the financial crisis.The ECB also said banks had borrowed 1.970 billion euros from its overnight loan facility, down on the 1.893 billion euros borrowed previously.Following this month's 50 basis point rate cut by the ECB, overnight loans now attract an interest rate of 3.75 percent and deposits pay 2.75 percent, compared the bank's main rate of 3.25 percent.
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