Standing Facilities

Standing facilities aim to provide and absorb overnight liquidity, signal the general monetary policy stance and bound overnight market interest rates. In contrast to open market operations, they are conducted at the initiative of eligible credit institutions.

Marginal Lending Facility

Counterparties can use the marginal lending facility to obtain overnight liquidity from the Central Bank against eligible assets. The interest rate on the marginal lending facility normally provides a ceiling for the overnight market interest rate.

Deposit Facility

Counterparties can use the deposit facility to make overnight deposits with the Central Bank. The interest rate on the deposit facility normally provides a floor for the overnight market interest rate.