BENGALURU: Banks will take up 435 billion euros at the European Central Bank's new targeted long-term refinancing operation this week, including rollovers from previous tenders, a Reuters poll of traders found.
That consensus is lower than the 451 billion euros predicted in a similar poll conducted two weeks ago.
The new TLTRO II scheme, which effectively offers banks free credit, is part of a package the ECB announced in March to help bring inflation back to target. Other measures included upping its monthly spending on asset purchases to 80 billion euros, buying corporate debt and cutting key interest rates to new record lows.
Banks will bid for 49 billion euros at the central bank's regular weekly operation, the poll also found, a tad lower than the 49.14 billion euros maturing.
Comments
Comments are closed.