ECB’s cash in wealthy states

Roughly 90% of the extra cash injected by the ECB to boost the eurozone’s economy is piling up in five of the bloc’s wealthiest countries, an ECB study has revealed.

The paper cites “risk aversion” as one reason why the money is not flowing from Germany, France, the Netherlands, Luxembourg, and Finland to the rest of the bloc, where some banks still rely on the ECB for cash.

It means banks in cash-rich nations are still reluctant to lend across borders nearly 10 years after the financial crisis broke and despite ECB efforts to keep the eurozone together and growing.