This Great Graphic set comes from Sober Look. Two important points are illustrated. First, the ECB's balance sheet continues to expand to new record highs, even after the LTROs. Since late May there has been a dramatic increase in bank borrowings at the ECB's weekly refunding operation. It was averaging around 40 bln a week in May before rising to 180 bln euros in late June. Second, the quality of the assets on the ECB's balance sheet has deteriorated. This deterioration, which extends to collateral, is becoming a new front in the battle between creditor and debtors.
Great Graphic: ECB Balance Sheet and Composition
Reviewed by Marc Chandler
on
July 04, 2012
Rating:
Reviewed by Marc Chandler
on
July 04, 2012
Rating:
