The data displays the fluctuation of the European Central Bank interest rate on the marginal lending facilities between 2008 and 2016. The marginal lending facility is a monetary policy instrument of the euro system which offers commercial banks the opportunity to procure, against eligible collateral and at a specified interest rate for one business day, liquidity (overnight loans) from the ECB. This permanent facility is intended to meet temporary,very short-term liquidity needs, and normally provides a ceiling for the bank call rate on the money market.
