LTRO a good thing but beware dependency, warns BIS
Central banks’ measures to re-open bank funding markets have helped put the financial sector back on track, but many banks are now reliant on liquidity from official institutions, the Bank for International Settlements said this week.
BIS approved of the European Central Banks three year long term refinancing operation (LTRO) as well as the ECBs acceptance of a wider range of collateral, it said in its latest quarterly review.
Coordinated action from six central banks in November 2011 to reduce the costs of international swap
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