ECB opts for new round of TLTROs

ECB adobe stock AS 230x150
By Tyler Davies
07 Mar 2019

The European Central Bank said on Thursday that it would launch a third series of targeted longer-term refinancing operations (TLTRO III) from September 2019, surprising market participants who expected the central bank to hold off on announcing the details of a new bank funding programme.

The ECB said that loans borrowed under TLTRO III would have two year maturities, shorter than the four year funding that it had offered under TLTRO II. The new operations will begin in September 2019 and end in March 2021.

The central bank said that loan costs under ...

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