Kortetermijnuls

Kortetermijnuls refers to the phenomenon in finance and economics where interest rates for very short maturities, typically overnight or for a few days, exhibit a level of zero or even negative. This occurs when there is an extreme surplus of liquidity in the financial system, often as a consequence of central bank monetary policy interventions like quantitative easing or direct liquidity injections. When banks have more cash reserves than they need or can lend out profitably, they may be willing to deposit these funds at the central bank or with other financial institutions at very low, or even negative, rates to avoid holding idle assets.

The existence of kortetermijnuls can signal an oversupply of money in the economy and a lack of profitable investment opportunities. It can also be a tool used by central banks to encourage lending and spending, though its effectiveness at very low or negative rates is debated. For financial institutions, it can compress net interest margins and affect their profitability. Investors may seek out assets with slightly longer maturities or higher risk profiles to achieve positive returns. The concept is closely tied to the broader discourse on monetary policy transmission mechanisms and the challenges of managing liquidity in advanced economies.