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Deposits stable in euro zone periphery in Nov: ECB
Consumers and firms' deposits in banks in troubled euro zone member states remained mainly stable in November, European Central Bank data showed, indicating that worst fears of bank collapses or even a euro zone exit are receding. The ECB managed to calm financial markets by announcing a new government bond purchase plan in September, which has since brought down sovereign bond spreads for countries such as Italy and Spain. Private-sector deposits at Italian banks rose by 0.1 per cent to 1.443 trillion euros in November after falling almost 2 per cent in October. Spanish banks recorded a 0.8 per cent increase to ... (full story)
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