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Banks Repay Less Than Forecast EUR 61.09 Bln Of Second ECB 3-year Loans

The European Central Bank announced on Friday that 356 banks will repay a total EUR 61.09 billion next week of the second three-year loan offered last year.

The figure came in much below the EUR 130 billion expected by analysts. The ECB had given EUR 529.53 billion three-year loans to 800 banks on February 29 under a facility known as long-term refinancing operations or LTROs. The banks will start repayment of the second LTRO loans on February 27.

Earlier to that, a total 523 banks took EUR 489 billion in three-year loans in the first round of LTROs in December 2011. The central bank also said today that nine banks will repay EUR 1.7 billion of the first LTRO loans. Banks started early repayment of the first LTRO loans in January and the initial payment was higher than forecast.

by RTTNews Staff Writer

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