Lost in terminology?
Find on this page key concepts in simple words explained by the ECB.
Standing facilities and Intraday liquidity
The Eurosystem offers credit institutions two standing facilities:
- Marginal lending facility in order to obtain overnight liquidity from the central bank against eligible assets;
- Deposit facility in order to make overnight deposits with the central bank, remunerated at an interest rate pre-specified by the ECB.
Funds, which are available or can be borrowed during the business day, in order to enable financial institutions to effect payments/settlement.
Repayment of the funds borrowed must take place before the end of the business day.