Overnight loans and overnight deposits

    The National Bank’s standing facilities include lending and deposit facilities made available to banks on an ongoing basis. These operations are  overnight and initiated by commercial banks. Lending facilities include loans for maintaining daily liquidity, which are collateralized by eligible assets. Deposit facilities include excess liquidity deposits with the National Bank. The NBG extends overnight loans to commercial banks on the grounds of corresponding collateral. Government securities, CDs, international bank guarantees and credit assets of commercial banks denominated in the national currency are accepted as collateral. The loan and the accrued interest should be repaid before the end of the accounting day. The interest rate on overnight loans is determined as the monetary policy rate plus 0.75 percentage points.


    Overnight deposits are accepted at the NBG before the end of any business day without preliminary notification. The next business day, upon the opening of the operational day, the NBG transfers the amount of the deposit and accrued interest to the correspondent account of the commercial bank. The interest rate on an overnight deposit is determined as the monetary policy rate minus 1.75 percentage points.