German Banks Make Up More Than Half of ECB Tender, Welt Reports
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More than half of the 800 lenders that tapped the European Central Bank’s Feb. 29 tender of three-year loans were German, mainly small savings and cooperative banks, Die Welt newspaper reported.
Germany’s biggest 15 so-called systemically relevant banks were underrepresented in the tender with fewer than half tapping the loan and, while numerous, the savings and cooperative banks borrowed small sums, the newspaper said in a pre-released report. It didn’t say where it got the information.