Euro money market lending down 5 pct in Q2 - ECB

Published: 24 Sep 2009 00:03:16 PST

LONDON, Sept 24 - Euro money market turnover in the second quarter decreased for a second year running, with unsecured lending showing the largest fall as liquidity conditions continued to deteriorate, the European Central Bank said on Thursday. Aggregate turnover in the euro money market in the second quarter of 2009 was 5 percent lower than the same period a year earlier, according to a survey of 105 banks, with unsecured lending contracting by a quarter.

However, the secured lending market -- the largest segment of the euro money market -- showed some resilience, with a 5 percent increase in turnover following the previous year's decline.