Banks take more than expected in new TLTRO round

By Tyler Davies
24 Sep 2020

Take-up was higher than expected for the European Central Bank’s latest series of Targeted Longer-Term Refinancing Operations on Thursday. But an overall allotment of €174bn still paled in comparison with the last round, as banks showed they already had plenty of excess liquidity on their balance sheets.

The ECB published the latest TLTRO figures on its website on Thursday morning. They showed that 388 bidders had been allotted €174.46bn of new financing through the programme. 

In the previous round, in June, a total of 742 European banks borrowed an astonishing €1.3tr. That was ...

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