Louis Harreau
@louisharreau.bsky.social
ECB watcher, practicing European, Bumblebee-day observer
I’m increasingly thinking that the spread €str DFR is not relevant (for LCR cost, EStR is stuck at -5bp whatever the level of liquidity), better look at o/n repo. And indeed MRO demand :)
January 16, 2025 at 1:28 PM
I’m increasingly thinking that the spread €str DFR is not relevant (for LCR cost, EStR is stuck at -5bp whatever the level of liquidity), better look at o/n repo. And indeed MRO demand :)
But collateral will be super abundant… (agree that as long as liquidity >1500bn it should not be an issue, so more a 2027-28 story on that front)
January 16, 2025 at 1:00 PM
But collateral will be super abundant… (agree that as long as liquidity >1500bn it should not be an issue, so more a 2027-28 story on that front)
Consistent with @isabelschnabel.bsky.social speech back in November 24, speaking about a ‘normalisation’.
Let’s see how things will unfold with EUR500bn of QT and of liquidity destruction in 2025
www.ecb.europa.eu/press/key/da...
Let’s see how things will unfold with EUR500bn of QT and of liquidity destruction in 2025
www.ecb.europa.eu/press/key/da...
The ECB’s balance sheet reduction: an interim assessment
The European Central Bank (ECB) is the central bank of the European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purch...
www.ecb.europa.eu
January 16, 2025 at 12:46 PM
Consistent with @isabelschnabel.bsky.social speech back in November 24, speaking about a ‘normalisation’.
Let’s see how things will unfold with EUR500bn of QT and of liquidity destruction in 2025
www.ecb.europa.eu/press/key/da...
Let’s see how things will unfold with EUR500bn of QT and of liquidity destruction in 2025
www.ecb.europa.eu/press/key/da...
ECB account: the ECB is not (overly) worried by ASW and Repo spikes, for now.
January 16, 2025 at 12:43 PM
ECB account: the ECB is not (overly) worried by ASW and Repo spikes, for now.
Still very easy but here’s the hint, just in case
December 2, 2024 at 10:25 AM
Still very easy but here’s the hint, just in case
Answer: Deposit rate: currently at 3.25%, this is the rate at which banks can put their excess liquidity. The ECB has explained in its new monetary framework that the deposit rate will permanently remain its main tool to steer financing conditions.
(Yeah this one was easy)
(Yeah this one was easy)
December 2, 2024 at 10:22 AM
Answer: Deposit rate: currently at 3.25%, this is the rate at which banks can put their excess liquidity. The ECB has explained in its new monetary framework that the deposit rate will permanently remain its main tool to steer financing conditions.
(Yeah this one was easy)
(Yeah this one was easy)
Just setting up my blsky ;)
December 1, 2024 at 7:40 PM
Just setting up my blsky ;)
One ECB chart per day, with a hint in case you need it. Guess the ECB chart of the day.
Day 1 - this one is easy
Day 1 - this one is easy
December 1, 2024 at 7:38 PM
One ECB chart per day, with a hint in case you need it. Guess the ECB chart of the day.
Day 1 - this one is easy
Day 1 - this one is easy