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800 EU banks get 529.5 bln euros in ECB emergency loans

Wednesday, February 29, 2012

800 EU banks get 529.5 bln euros in ECB emergency loans

European Banks have sucked up €529.5bn in cheap money from the ECB. It’s the second auction by the European Central Bank in its Long Term Refinancing Operation (LTRO).

­The money will help improve liquidity in the market.  Stock markets have reacted positively. Analysts also expect that over €100 billion of the new LTRO are likely to be used to refinance current debt, while a significant sum will be deposited at the ECB..... MORE
SourceRT.com

URL: http://rt.com/business/news/euro-ecb-crisis-loan-cheap-503/

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