(Boursier.com) – The ECB announced the result of the first tranche of the new refinancing long-term (4 years) for European banks (TLTRO) launched today. The amount borrowed by banks at an interest rate floor of 0.15% to € 82.6 billion. 255 counterparts were identified 382 eligible institutions.
The next allocation is scheduled on December 11. A series of 8 allocations is expected until June 2016
“Banks must come massively in this first operation to show that the recent ECB decisions are effective,” commented earlier this week economists Aurel BGC. For CM-CIC Securities, less than € 100 billion request is also considered disappointing, especially as these funds are partly used to repay previous LTRO 2012.
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