Demand for new cheap loans from the ECB was lower than market expectations. The European Central Bank allocated 399.3 billion euros in its initial funding under the TLTRO-II scheme: banks that take up new loans from the ECB under this scheme are expected to be paid 0.40% interest by the ECB provided the banks meet the target lending cash levels on the loans. However, the participation rate on the TLTRO-II loans was low, confirming that Eurozone banks were not in dire need for more additional financing.
Market Seeks to Recover Balance After Brexit
Daily Analysis - 27/06/2016