Here's a warning sign of deteriorating confidence in the European financial system.
European banks are increasingly parking capital with the European Central Bank (ECB) instead of loaning it out short-term to their peers. This is despite the fact that they earn far less interest (0.25%) leaving their money with the ECB.
One or more banks parked around €268 billion in the ECB's deposit facility overnight starting Tuesday, data from the ECB showed Wednesday.
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