The European Central Bank said that 29 banks will repay EUR 10.9 billion of three-year loans next week.
Next Wednesday, 14 banks will repay EUR 8.87 billion of long term financing operations or LTRO issued late 2011 and 15 banks will pay EUR 2.1 billion of the second tender. This will take total repayment by banks to EUR 274.6 billion from EUR 263.6 billion.
Banks started early repayment of the first LTRO loans in January with the initial amount of EUR 137.2 billion.
The ECB carried out first LTRO in December 2011 and a second one in February 2012, giving out more than EUR 1 trillion in total, in a bid to avert a credit crunch as the euro area sovereign debt crisis unfolded.
For comments and feedback: editorial@rttnews.com