Money market The money market is broadly defined as the market for interbank short-term debt or deposits and consists of various segments.
Our report suggests three indicators for measuring financial integration, based on the dispersion of lending rates – namely overnight rates, unsecured lending rates, and repo rates – offered by banks among euro area countries, with the data referring to actual transactions or offered rates by EONIA, EURIBOR and EUREPO panel banks. These indicators point to a high overall degree of integration.