The ECB lends 530 billion euros to 800 banks
5th March 2012The European Central Bank has undertaken its second long term refunding operation, lending 529.5 billion euros to over 800 European banks. This record loan at a rate of only 1% over three years, is designed to support the banking and financial sectors that are affected by the debt crisis thereby enabling them to fund the real economy as well as to purchase European sovereign debt bonds.
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