Economics
Banks Snap Up ECB’s Loans in Another Trillion-Euro Moment
- ECB sees 1.31 trillion-euro demand for three-year financing
- Strong TLTRO take-up may help boost Italy’s sovereign bonds
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The European Central Bank reached another trillion-euro milestone in its fight to bolster economies that are seeing years of growth wiped out in months by the coronavirus pandemic.
An offer for its ultra-cheap, three-year loans was taken up by 742 banks for a total of 1.31 trillion euros ($1.5 trillion) on Thursday. That’s in line with predictions of 1.2 trillion to 1.5 trillion euros.