Arab Today, arab today banks take special oneyear loan from ecb
Last Updated : GMT 16:38:19
Arab Today, arab today
Arab Today, arab today

Banks take special one-year loan from ECB

Arab Today, arab today

Arab Today, arab today Banks take special one-year loan from ECB

Berlin - Xinhua

The European Central Bank (ECB) said Wednesday that it has loaned 56.9 billion euros (65.3 billion U.S. dollars) of one-year-long loans to eurozone banks, less than experts\' forecast amid the worsening debt turmoil. The ECB said a total of 181 banks apply for the 371-day loan, which was at the benchmark interest rate of 1.5 percent. The demand was weaker than expected, as analysts predicted that some 70 billion euros would be thrashed out when the central bank started to conduct such operations. At the monthly policy-setting meeting in early October, the ECB announced a series of non-standard measures to help struggling banks get enough liquidity to curb \"unfavourable effects on financing conditions,\" including a refinancing operation with a maturity of approximately one year conducted in October and the other with a maturity of approximately 13 months in December. These special measures were reintroduced against a backdrop that European banks became reluctant to lend to each other with fears that the sovereign debt crisis, which is spreading to bigger economies like Spain and Italy, could escalate into a severe banking crisis. The ECB conducted such longer-term operations first in June 2009, when the international financial crisis swept the European financial market. At that time, some 1,100 eurozone banks asked for the life-saving cashes. Although the number of applicants is fewer than forecast, which could be some relief for investors, experts warned that more pressure would exert on banks in coming months, as European leaders are expected to ask banks to write down 50 to 60 percent of their Greek holdings, a bold gesture showing private sector has contributed to saving heavily indebted eurozone countries.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today banks take special oneyear loan from ecb Arab Today, arab today banks take special oneyear loan from ecb

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today banks take special oneyear loan from ecb Arab Today, arab today banks take special oneyear loan from ecb

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday