【巴克莱-2025研究报告】从利率到银行：超额流动性——底线在哪里？.pdfVIP

CrossAssetResearch

16June2025

EuropeanBanks

FromRatestoBanks:Excess

liquidity-whereisthefloor?IndustryUpdate

Inthisreport,weaddresskeydiscussiontopicsintheRatesEuropeanBanks

spaceandtheimpactonEuropeanbanks.Inparticular,wePOSITIVE

lookattheLCRandexcessreservesandconcludethatEquityResearch:EuropeanBanks

PaolaSabbione

approximatelyhalfoftheEZbankswecoverarenearlevelsof+39(0)263722579

excessreservesoptimalfortheirLTtargets.paola.sabbione@

BBI,Milan

FloraBocahut

TheRatesView

+33(0)144583131

Rohan

Khanna(i)

Barclays,

UKflora.bocahut@