Carmaker to borrow from ECB

Volkswagen, a German carmaker, plans to tap the European Central Bank (ECB) for a €2.3 billion ($2.9 billion) loan in December.

The carmaker said it would use $2.8 billion-worth of securities backed by car loans as collateral for the ECB financing, which it would be looking to obtain in December. The ECB will deduct about half a billion in haircuts.

The loan underlines the difficulties faced by some of the eurozone's biggest companies in obtaining financing. The ECB's latest bank lending surv

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: