FRANKFURT (MNI) – The European Central Bank on Wednesday allotted
E17.876 billion in its final 6-month refinancing operation.
The ECB said it satisfied all 62 bids for the operation.
Ahead of the operation, the consensus forecast for demand was
around E70 billion, although the forecasts band was very large.
As with the final 12-month LTRO last December, borrowing costs of
6-month funds will be indexed to the average minimum bid rate of the
MROs over the life of this operation.
The ECB announced earlier this month that “in view of economic and
financial market developments” the ECB will “continue the gradual
phasing-out of its non-standard operational measures.”
It thus decided to discontinue 6-month operations following today’s
allotment.
–Frankfurt Newsroom +49 69 72 01 42: email: frankfurt@marketnews.com
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