Standing facilities

Introduction

The Eurosystem offers eligible counterparties access to two standing facilities:

• Marginal lending facility in order to obtain overnight liquidity from the national central bank, against the provision of adequate eligible collateral;
• Deposit facility in order to make overnight deposits with the national central bank.

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 ofTARGET, 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.

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