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The Eurozone banks’s excess reserves approaching € 1 trn

The amount of Eurozone banks’s excess reserves parked at the ECB is approaching € 1 trn. This is clearly the result of the ECB’s QE as excess reserves accounted for around €165 bn before the start of the ECB’s expanded asset purchase programme. On average, excess reserves grow by €44 bn per month. This is to continue and even to amplify as the pace of ECB’s monthly asset purchases have been raised to €80 bn. 

Graph_foreign-Excess-reserves
DRUT Bastien , Fixed Income and FX Strategy
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The Eurozone banks’s excess reserves approaching € 1 trn
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