Investors accepted negative interest rates to lend money to the EU's bailout fund on Tuesday, according to the German central bank, which managed the issue. The Bundesbank said in a statement that the European Financial Stability Facility placed 1.997 billion euros ($2.516 billion) worth of three-month bills at a yield of minus 0.0454 percent. A negative yield means that investors actually pay the EFSF to lend it money. Demand for the issue was strong, with investors bidding for a total 6.041 billion euros worth of bonds, bringing the so-called cover ratio to 3.0. The EFSF, which was established with a total lending capacity of 440 billion euros, is to be replaced eventually by a permanent rescue fund called the European Stability Mechanism, with 500 billion euros of firepower. The ESM was to come into force on July 1, but it has suffered delays, notably owing to legal challenges in Germany.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor