What does "fully sterilized" mean in this context, and how does it work? That is new one for me.
In the Fed context, the central bank paid interest rates for banks to keep very short term reserves loans at their Fed accounts, effectively taking that money out of the monetary base. In the ECB context, they are issuing "tender", which I assume is something similar to that or to normal Federal open market operations where the central bank sells official bonds in exchange for currency.
Anyway, it appears that I jumped the gun on the thread title; this figure is only preliminary for the last week, so there is more coming.
IC, it is like burning currency in the fireplace, except that of course it can come back to life.
