Economics

ECB Hands Banks $931 Million in First Round of New Funding

Central bank announces details of first PELTRO allotment
New refinancing operations effectively pay banks to take cash

European Union flags fly outside the European Central Bank headquarters in Frankfurt. — European Union flags fly outside the European Central Bank headquarters in Frankfurt.
Photographer: Alex Kraus/Bloomberg

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By Carolynn Look

May 20, 2020 at 10:46 AM UTC

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The European Central Bank doled out 851 million euros ($931 million) to euro-area banks in the first round of a new liquidity program launched last month, according to a statement.