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Financial News: ECB Not To Extend Liquidity Relief For Banks

ECB Not To Extend Liquidity Relief For Banks Beyond December

12/17/2021 - 10:14:00 (RTTNews)

(RTTNews) - The European Central Bank said Friday it will not extend liquidity relief for banks that was provided during the coronavirus pandemic, beyond December as policymakers assessed that they have ample liquidity buffers that can be used to support the economy. The liquidity relief measure allowed banks to operate with a liquidity coverage ratio below 100 percent.

A bank's liquidity coverage ratio is the relationship between its buffer of high-quality liquid assets and the cash outflows it may face over a 30-day period of liquidity stress. During normal times, banks are expected to maintain a liquidity coverage ratio of above 100 percent so they can use that buffer in the event of liquidity stress. This means a bank's highly liquid assets must at least match the liquidity it would expect to leave the bank within 30 days in a stress situation, the ECB said. The central bank now expects all banks to maintain a liquidity coverage ratio of above 100 percent January 1, 2022. The aggregate liquidity coverage ratio of banks under direct ECB supervision currently stands at about 170 percent, up from about 140 percent before the Covid-19 pandemic.

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