Coeure Says ECB May Not Renew Long-Term Loans Amid Recovery

European Central Bank Executive Board member Benoit Coeure said banks may not need another round of the cheap long-term loans that were key to fighting the euro-area debt crisis and recession.

“It may be the case that the standing facilities are enough to ensure an appropriate level of liquidity; if this is not the case, then we would act,” Coeure, who responsible for money markets at the ECB, said in an interview in Frankfurt yesterday. “Tail risks are much more limited today than six months ago. So to that extent, we’re more confident in the recovery.”