Bloomberg: Cash Deposited at ECB Plunges as Negative Rate Starts

Cash deposited overnight with the European Central Bank plunged to the lowest level since 2011 as a negative interest rate took effect.

Euro-area banks parked 13.6 billion euros ($18.4 billion) in the deposit facility yesterday, down 25 billion euros from the previous day. The ECB has started charging 0.1 percent for holding cash in excess of minimum reserves, making it the first major central bank to do so.

The full article is available here.

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