net_left Phương Thức Thanh Toán

ECB to begin great cash mop-up as banks repay billions in loans

18 Tháng Mười Một 2022
ECB to begin great cash mop-up as banks repay billions in loans © Reuters. FILE PHOTO: A sign outside the European Central Bank building in Frankfurt, Germany October 27, 2022. REUTERS/Wolfgang Rattay
let atwWrapper,atwContainerWidth,atwSliderBox,atwTotalWidth; function initATWSlider() { atwWrapper = $('.relatedInstruments'); atwSliderBox = atwWrapper.find('.slider'); atwContainerWidth = atwWrapper.width(); atwTotalWidth = atwSliderBox.width(); if(window.domainId === '2' || window.domainId === '3'){ atwWrapper.find('.sliderRight').addClass('js-slider-prev'); atwWrapper.find('.sliderLeft').addClass('js-slider-next'); } else { atwWrapper.find('.sliderRight').addClass('js-slider-next'); atwWrapper.find('.sliderLeft').addClass('js-slider-prev'); } if(atwSliderBox.find('.instrumentBox').length > 6){ atwWrapper.find('.js-slider-next').fadeIn(600); } } function atwMoveRight() { atwWrapper.find('.js-slider-prev').fadeIn(150); $(".slider > :visible:first").hide(150) $(".slider > :visible:last").next().show(150); if(!$(".slider > :visible:last").next().find('.name')()){ atwWrapper.find('.js-slider-next').fadeOut(150); return; } } function atwMoveLeft() { atwWrapper.find('.js-slider-next').fadeIn(150); $(".slider > :visible:last").hide(150); $(".slider > :visible:first").prev().show(150); if(!$(".slider > :visible:first").prev().find('.name')()){ atwWrapper.find('.js-slider-prev').fadeOut(150); return; } } initATWSlider(); //update star icon on adding/removing instrument to/from specific watchlist atwWrapper.on('click', 'label.addRow', function() { let parent = $(this).parent(); let checkedPortfolio = false; parent.find('input[type=checkbox]').each(function () { if($(this).is(':checked')){ checkedPortfolio = true; } }); let closestStar = $(this).closest('.addToPortWrapper').find('.star'); if(checkedPortfolio){ closestStar.addClass('added'); }else{ closestStar.removeClass('added'); } }); //update star icon on creating new watchlist atwWrapper.find('.js-create-watchlist-portfolio').find('a.js-create').on('click',function () { let parent = $(this).parent(); let watchlistName = parent.find('input[type=text]').val(); if(!watchlistName){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); //update star icon on adding new position atwWrapper.find('.js-create-holdings-portfolio').find('.js-submit').on('click',function () { let addPositionForm = $(this).closest('.addToPortfolioPop').find('.holdingsContent'); let amount = addPositionForm.find('.js-amount').val(); if(amount < 1){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); atwWrapper.find('.instrumentBox').find('.shortInfo').on('click',function () { if(!window.ga){ return; } let pairId = $(this).parent().find('.js-add-to-portfolio').attr('data-pair-id'); let pairType = window.atwPairTypes[pairId]; window.ga('allSitesTracker.send', 'event', 'content', 'symbol link clicked', '', { "dimension147":"symbol_link_clicked", "dimension163":"click", "dimension148":"symbol", "dimension162":"content add to watchlist", "dimension161":"article page", "dimension142":"article", "dimension75":pairType, "dimension138":pairId, "dimension118":"2947441" }); window.open($(this).attr('data-href')); }); window.atwPairTypes = {"941835":"Equities"};

By Francesco Canepa

FRANKFURT (Reuters) - The European Central Bank is set to begin on Friday the biggest withdrawal of cash from the euro zone's banking system in its history, as it gives banks a first chance to repay hundreds of billions of euros in ECB loans.

The move is part of ECB efforts to fight record-high inflation in the euro zone by raising the cost of credit and it is its first step towards mopping up even more liquidity next year by trimming its multi-trillion-euro bond portfolio.

The euro zone's central bank will announce at 1105 GMT how much banks plan to repay of the 2.1-trillion-euros ($2.17 trillion), multi-year credit they have taken under its Targeted Longer-Term Refinancing Operations (TLTRO).

While this early TLTRO reimbursement is voluntary, the ECB has given banks an incentive to get rid of those loans by taking away a rate subsidy last month.

Analysts expect banks to repay around half a trillion euros worth of TLTRO loans at this week's window - the first of several - which would make this the biggest drop in excess liquidity since records began in 2000.

ECB policymakers will look at how the market digests this sudden drop in cash to gauge how fast they can proceed with reversing the ECB's 3.3-trillion-euro Asset Purchase Programme, which they will discuss at their Dec. 15 meeting.

The greatest impact from the repayments will be seen in peripheral countries, which would see a bigger proportion of their government bonds come back on the market after being locked at the ECB as collateral for the TLTRO loans.

"Clearly, Italy, Spain, Portugal and Greece would suffer from big repayments, whereas the impact would be smaller for Germany and France," said Louis Harreau, a strategist at Credit Agricole (OTC:CRARY).

But he cautioned there was less of an incentive for banks in southern European to repay because they relied on TLTRO for their funding to a greater extent than their northern peers.

MONEY MARKETS

The other area of focus for the ECB will be money markets, in which banks lend to each other for a short time.

Those markets have been hampered by the ECB's policy for years as banks could not find high-quality bonds to use as collateral for borrowing or did not have an incentive to do so when they could simply tap TLTRO for subsidised loans.

Antoine Bouvet, a strategist at ING, said any TLTRO repayment greater than 500 billion euros would ease concerns about a scarcity of collateral but also make the Euribor rates that banks charge each other more expensive.

"If TLTRO repayments result in some indications of money market stress, the ECB could decide to introduce a new facility as a backstop to replace TLTRO but with much less generous terms," he added.

But Marco Brancolini, a strategist at Nomura, said he did not see "much of an impact" even if banks repaid 600 billion euros.

He cited an ECB survey from last April that showed 56% of banks said they used TLTRO money to grant loans to the non-financial private sector and 44% said they also deposited some of it at the ECB.

"The latter is the part that should be repaid, with limited consequences for the real economy," Brancolini said.

"Only a limited amount of the TLTRO funds were used to buy bonds: banks are unlikely to unwind those positions as it would crystallise losses just ahead of year end."

Banks had until Nov. 16 to notify the ECB about their intention to repay TLTRO loans, but the reimbursement will only take place on Nov. 23.

The next repayment window is scheduled for Dec. 21, meaning some bank treasurers may choose to wait until then before making a move, analysts said.

($1 = 0.9687 euros)

Để lại bình luận
Hot Auto Trade Bot Phương Thức Thanh Toán
BROKERS ĐƯỢC CẤP PHÉP
net_home_top Ai VIF
28-11-2022 07:50:28 (UTC+7)

EUR/USD

1.0383

-0.0011 (-0.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

EUR/USD

1.0383

-0.0011 (-0.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

GBP/USD

1.2074

-0.0019 (-0.16%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

USD/JPY

138.93

-0.17 (-0.12%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

AUD/USD

0.6722

-0.0027 (-0.40%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

USD/CAD

1.3403

+0.0026 (+0.19%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (6)

EUR/JPY

144.27

-0.32 (-0.22%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (8)

EUR/CHF

0.9819

-0.0008 (-0.08%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

Gold Futures

1,753.05

-0.95 (-0.05%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (3)

Sell (0)

Silver Futures

21.312

-0.118 (-0.55%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (6)

Copper Futures

3.5840

-0.0465 (-1.28%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (10)

Sell (1)

Crude Oil WTI Futures

75.91

-0.37 (-0.49%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Brent Oil Futures

83.44

-0.27 (-0.32%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Natural Gas Futures

7.303

-0.027 (-0.37%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

US Coffee C Futures

164.40

+1.65 (+1.01%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (9)

Euro Stoxx 50

3,962.41

+0.42 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (2)

S&P 500

4,026.12

-1.14 (-0.03%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (2)

DAX

14,541.38

+1.82 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (3)

Sell (2)

FTSE 100

7,486.67

+20.07 (+0.27%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (6)

Sell (1)

Hang Seng

17,573.58

-87.32 (-0.49%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (0)

Sell (5)

US Small Cap 2000

1,869.19

+6.37 (+0.34%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (2)

IBEX 35

8,416.60

+37.20 (+0.00%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

BASF SE NA O.N.

49.605

-0.280 (-0.56%)

Summary

Neutral

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (4)

Sell (4)

Bayer AG NA

55.45

-0.06 (-0.11%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (6)

Allianz SE VNA O.N.

205.35

+0.40 (+0.20%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (1)

Adidas AG

123.98

-2.68 (-2.12%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (5)

Deutsche Lufthansa AG

7.567

+0.036 (+0.48%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (9)

Siemens AG Class N

132.06

+1.10 (+0.84%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

Deutsche Bank AG

10.390

+0.020 (+0.19%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

    EUR/USD 1.0383 ↑ Buy  
    GBP/USD 1.2074 ↑ Buy  
    USD/JPY 138.93 ↑ Sell  
    AUD/USD 0.6722 ↑ Buy  
    USD/CAD 1.3403 ↑ Sell  
    EUR/JPY 144.27 ↑ Sell  
    EUR/CHF 0.9819 ↑ Sell  
    Gold 1,753.05 ↑ Buy  
    Silver 21.312 ↑ Sell  
    Copper 3.5840 ↑ Buy  
    Crude Oil WTI 75.91 ↑ Sell  
    Brent Oil 83.44 ↑ Sell  
    Natural Gas 7.303 ↑ Buy  
    US Coffee C 164.40 ↑ Sell  
    Euro Stoxx 50 3,962.41 ↑ Buy  
    S&P 500 4,026.12 Neutral  
    DAX 14,541.38 ↑ Buy  
    FTSE 100 7,486.67 ↑ Buy  
    Hang Seng 17,573.58 Neutral  
    Small Cap 2000 1,869.19 ↑ Buy  
    IBEX 35 8,416.60 Sell  
    BASF 49.605 Neutral  
    Bayer 55.45 Sell  
    Allianz 205.35 ↑ Buy  
    Adidas 123.98 Neutral  
    Lufthansa 7.567 ↑ Sell  
    Siemens AG 132.06 ↑ Buy  
    Deutsche Bank AG 10.390 ↑ Buy  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,660/ 6,730
(6,660/ 6,730) # 1,488
SJC HCM6,660/ 6,760
(0/ 0) # 1,510
SJC Hanoi6,660/ 6,762
(0/ 0) # 1,512
SJC Danang6,660/ 6,762
(0/ 0) # 1,512
SJC Nhatrang6,660/ 6,762
(0/ 0) # 1,512
SJC Cantho6,660/ 6,762
(0/ 0) # 1,512
Cập nhật 28-11-2022 07:50:30
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,753.15 -1.22 -0.07%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩm Vùng 1 Vùng 2
RON 95-V24.91025.400
RON 95-III23.78024.250
E5 RON 92-II22.67023.120
DO 0.05S24.80025.290
DO 0,001S-V26.78027.310
Dầu hỏa 2-K24.64025.130
ↂ Giá dầu thô thế giới
WTI $75.97 +0.14 0.19%
Brent $83.31 +0.13 0.16%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.570,0024.840,00
EUR25.158,7926.565,16
GBP29.229,5930.473,22
JPY173,58183,74
KRW16,1719,70
Cập nhật lúc 07:13:30 28/11/2022
Xem bảng tỷ giá hối đoái
Phương Thức Thanh Toán