SINGAPORE (MNI) – More European banks are set to tap the European
Central Bank for emergency funds worth twice as much or more than they
did in December in the first round of funding, the Financial Times
reported Tuesday.
The paper quoted an unnamed senior banker as saying banks could tap
as much as E1 trillion in the ECB auction and quoted three chief
executives of European banks as saying they would double or triple the
amount they took in the first funding exercise.
The first auction in December resulted in E489 billion in emergency
funds to more than 500 lenders. The FT said that as well as more money
being dispersed in three-year loans, this round could also see more
banks involved.
The funds are being loaned at 1%.
[TOPICS: M$X$$$,MT$$$$,MNXAU$,M$$EC$]
