Daily observations from 2021 · Official ECB sources · No estimated data
OBSERVATION LOADING
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VERIFYING LATEST ECB DATA. The dashboard starts from its latest verified embedded snapshot and checks the cloud dataset automatically.
ECB REFERENCE LEVELEXLIQ
—EUR bn
Loading latest verified observation
Daily change EUR bn
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Previous available observation
1-week change EUR bn
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Versus 7 calendar days earlier
1-month change EUR bn
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Versus 30 calendar days earlier
Year-to-date EUR bn
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Versus previous year-end
01 HISTORICAL LIQUIDITY
EUR BILLIONS
to
Excess liquidity0 observations loaded
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Connect the historical series
The ECB publishes annual daily archives. The collector loads 2021 onward and checks for new releases automatically.
DAILY CHANGE / LAST 60 OBSERVATIONS IN VIEWEUR bn
03 MONTHLY LIQUIDITY HEATMAP
04 DAILY OBSERVATIONS
Most recent first
OBSERVATION DATE
EXCESS / EUR bn
CHANGE / EUR bn
DEPOSIT / EUR bn
RESERVES / EUR bn
DATA METHOD
Data, methodology & audit
Know exactly what is on your screen
Definition and units
Excess liquidity = current account holdings + use of the deposit facility − minimum reserve requirements − use of the marginal lending facility
The source unit is EUR millions. The dashboard divides by 1,000 for EUR billions and by 1,000,000 for EUR trillions. Published excess liquidity is preferred when present; otherwise all four same-date ECB components are required. Missing inputs are never silently treated as zero.
History and cloud updates
This edition contains the complete retrieved ECB history from 1 January 2021 through the latest available observation at build time. Open the HTML directly in your browser. No Python, Node.js, or terminal is required for viewing.
A GitHub Actions collector downloads official ECB archives and the ILM API. Its scheduled checks run every 15 minutes from 06:07 through 20:52 UTC on weekdays. Scheduled runners can start late or fail; the last successful retrieval and the actual observation date are shown separately. Collection continues independently of your computer. The page checks the published dataset at the refresh interval you select.
Refresh data retrieves the latest completed cloud collection; it does not force the ECB to publish a new observation or trigger a new collector run. If the feed is unavailable, the embedded or browser-cached verified data stay visible. This is a daily public-data monitor, not an intraday market feed.
Consistent observation basis
The default Weekday observations uses only published Monday-Friday values across the entire history, including holidays where the ECB supplies a value. It is not a TARGET-business-day filter. Some later API history also includes weekend observations; All published dates preserves those, but its sampling frequency is not uniform across earlier years. Missing weekends are never forward-filled. Charts, changes, moving averages, heatmaps and exports follow the selected basis.
Monthly heatmap
Monthly average is the arithmetic mean of the selected published observations, not the sum of liquidity. Weekdays are selected by default for comparability across years. Month-end level uses the last published observation in a calendar month; the latest month is partial until the month closes. Month-end change subtracts the previous calendar month's last available value. Missing previous months produce a blank change, not a zero.
Absolute levels are green for more liquidity and red for less. The default color scale is shared across all years; within-year scaling is available but colors then cannot be compared across different years. Change mode is centered at zero. Unavailable months are hatched; future months are blank. An asterisk marks a partial or sparse month. Click a cell for its observed date range and sample count.
Comparisons and statistics
Daily change uses the previous published observation and identifies that date. Weekly and monthly changes use the last observation on or before 7 and 30 calendar days earlier, with at most four extra calendar days of lookback. YTD uses the last observation on or before 31 December, again with at most four days of lookback. No suitable reference means no number. Moving averages use 20 observations. The z-score uses the latest 60 observed levels and sample standard deviation; it is descriptive, not a mean-reversion or trading signal.
Validation and limitations
Dates are sorted and deduplicated. The published total is cross-checked against its components when all are available; differences up to EUR 3 million are allowed for rounding of the four components and total. Larger differences are flagged. Missing archives, long gaps, a failed refresh, and data more than four calendar days old are disclosed. A complete-history status requires every requested annual archive and no missing Monday-Friday dates from 1 January 2021 through the latest loaded date. This is a coverage test, not proof that the ECB has published today or an audited service guarantee.
On-screen threshold alerts
These alerts run only while the dashboard is open. They are visual notices, not email or push notifications.
ECB ILM excess-liquidity seriesILM.D.U2.C.EXLIQ.U2.EUR. The portal's observed coverage begins in September 2024; annual archives are required for the earlier history.