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Banks take less money in ECB's weekly tender after TLTRO launch FRANKFURT: Euro zone banks took less money than expected in the European Central Bank's weekly refinancing operation after showing limited interest in the ECB's first round of new ultra-long loans, or TLTROs, last week.Banks took 90.3 billion euros in the ECB's main refinancing operation on Tuesday compared with 105.7 billion euros that expired. This was the lowest amount allotted since March.A Reuters survey of 21 traders had forecast banks would borrow 100 billion euros in the regular weekly tender."Ninety billion is a still a decent number," said Frederik Ducrozet, senior economist at Credit Agricole CIB. "There is a core structural demand for weekly operations that may remain regardless of what happens with the TLTROs and asset purchases."Banks have been reluctant to tap the new long-term funds as they can still use the ECB's regular operations at a cheaper rate. Banks can borrow at 0.05 percent from the ECB, but have ...

Lloyds Bank readying second sale of TSB shares LONDON: Lloyds Banking Group could launch a second sale of shares in TSB Banking Group in the next week after a lock-up period expires at Tuesday's stock market close, according to banking sources.Investment banks have been making informal pitches to Lloyds for a mandate to sell the shares, and with TSB about to enter a "closed" period ahead of its Oct. 24 third-quarter results, the offer could come as soon as this week, one source ...

Hungary's central bank holds rates at 2.1pc BUDAPEST: Hungary's central bank left interest rates unchanged at 2.1 percent on Tuesday in line with its guidance that borrowing costs should remain at a record low through next year to boost the economy.The bank, led by a close ally of Prime Minister Viktor Orban, has slashed borrowing costs from a peak of 7 percent in 2012. Rates have been on hold at 2.1 percent since the bank made a last, 20 basis point cut ...

Indonesia sells 1.5bn rupiah of Islamic bonds, as targeted JAKARTA: Indonesia's finance ministry sold 1.5 trillion rupiah of Islamic bonds at an auction on Tuesday, meeting an indicative target of 1.5 trillion rupiah, the ministry's debt office said. The weighted average yield for the six-month Islamic T-bill was 6.74160 percent, lower than the last auction of 6.79990 percent on Sep. 9. The weighted average yield for the 29-year project-based sukuk was 9.20271 percent. Total bids for Tuesday's auction were 3.659 trillion rupiah, lower than ...

Indonesia central bank sees Q3 economic growth at 5.02pc JAKARTA: Indonesia's central bank forecasts annual growth in gross domestic product to slow further to 5.02 percent in the third quarter, from 5.12 percent in the second, a senior official said on Tuesday. The growth is expected to weaken as Indonesia's business cycle slows in line with a trend in global commodity prices, Juda Agung, executive director of the department of economic and monetary policy at Bank Indonesia, told a news conference. In August, finance ...

BoE's Bailey wants better global coordination over bank fines LONDON: Regulators from the United States and elsewhere should coordinate better how they levy fines on banks for misconduct to avoid making it harder to rebuild strength in the banking system, Bank of England Deputy Governor Andrew Bailey said. Bailey said at a British Bankers' Association on Tuesday that better discussion was needed among regulators to ensure big fines don't get in the way of banks building up their capital buffers."I am trying to build ...

Google to build 600mn euro data centre in the Netherlands AMSTERDAM: Google will build a 600 million euro (773.58 million US dollar) data centre in the northern Netherlands, the company said on Tuesday. Spokesman Mark Jansen said part of the the server park will start operating in the second half of 2016 and will create 150 permanent jobs. Google has three large European data centres in Ireland, Finland and Belgium. The Eemshaven facility will span 44 hectares and was chosen because of stable Dutch energy ...


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Banking Review 2013

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln