Bundesbank’s Nagel Tells Sueddeutsche ECB 3-Year Demand May Fall

Demand for the European Central Bank’s next three-year refinancing operation in February may be lower than the 490 billion euros ($634 billion) lent to banks last month, Bundesbank board member Joachim Nagel said, according to Sueddeutsche Zeitung.

Nagel added that the aim of the central bank is to ensure enough liquidity is present in the banking system, and not to guarantee that no European bank fails, the newspaper reported, citing an interview with Nagel.

To contact the reporter on this story: Jeff Black in Frankfurt at jblack25@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

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