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ECB hands Banks EUR 851 mln in PELTRO funding

Friday 22 May 2020 11:34 CET | News

The European Central Bank (ECB) has doled out EUR 851 million to euro-area banks in the first round of a new liquidity program launched in April 2019. 

The allotments with a 16-month maturity were made under the ECB’s so-called ‘pandemic emergency longer-term refinancing operations’ plan, or PELTRO. The facility mainly targets smaller banks and those who are not eligible for a separate program with targeted lending criteria. PELTRO loans are subject to an interest rate 25 basis points below the ECB’s main refinancing rate, which is currently at zero.

A separate program known as targeted longer-term refinancing operations offers banks more generous terms in return for providing credit to the real economy, though the next allotment under that facility doesn’t take place until June 2020. 


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Keywords: ECB, banks, The European Central Bank, euro, PELTRO, loans
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: Europe
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Banking & Fintech