Standing facilities

Introduction

The Eurosystem offers credit institutions two standing facilities:

  • Marginal lending facility in order to obtain overnight liquidity from the central bank, against the presentation of sufficient eligible assets;
  • Deposit facility in order to make overnight deposits with the central bank.
Standing facilities rates ( Effective from 16 March 2016)
Marginal lending facility rate: 0.25 %
Deposit facility rate: − 0.40 %

Past key ECB interest rates


Use of the standing facilities (Figures as at 29 July 2016, EUR millions)
Use of the marginal lending facility: 31
Use of the deposit facility: 298,869

Historical data on daily liquidity conditions


General Information

Availability

Both facilities are available to eligible counterparties on their own initiative, subject to their fulfilment of certain operational access conditions.

Terms and conditions

The time limit to request access to the standing facilities is half an hour after the close of TARGET2 , except on the last working day of the reserve maintenance period, when the time limit is an hour.

The standing facilities are administered in a decentralised manner by the national central banks. The terms and conditions of use of the standing facilities are identical throughout the euro area.

Rates corridor

The interest rates on the marginal lending and deposit facilities normally provide a ceiling and a floor for the overnight market interest rate.