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. 

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ECB, banks, the European Central Bank, euro, PELTRO, loans
Categories: Banking & Fintech
Countries: Europe
This article is part of category

Banking & Fintech

Industry Events