GC Asia
Early TLTRO II repayments surge to €147bn
Eurozone banks have ramped up repayments for the second series of Targeted Longer Term Refinancing Operations (TLTRO II) this month, but engagement with the latest iteration of the European Central Bank’s cheap funding programme was weaker than expected.
Banks will repay €146.8bn of TLTRO II on December 18, according to a statement from the ECB.
This marks a big step up from the €31.8bn of funding that was returned to the central bank on September 25 — the previous deadline for early repayment.
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