Bank CP funding needs likely slashed by TLTRO take-up

The renewed flood of central bank funding in the form of a new round of Targeted Longer-Term Refinancing Operations (TLTRO III) will put a severe dent in the supply of commercial paper from bank borrowers.
Bank issuance of bonds with tenors of a year or less is likely to decline thanks to the record €1.31tr take-up of the latest TLTRO facility this week.
One CP dealer said: “It won’t disappear entirely. Banks will roll over bonds to ensure investors keep the positions available and ...Already a subscriber? Login
Further Reading
-
Covered Bonds
SG and DZ get outstanding covered bond execution
-
Senior Debt
Deutsche Pbb lands debut deal in green senior market
-
Regulatory Capital
AT1 extension risk at rock bottom as Handelsbanken calls deal
-
People & Markets
EC pledges to ‘move faster’ on resolution reforms in drive for Banking Union