ECB to add €150 billion as market rates creep up

The European Central Bank (ECB) is to conduct four extra open market operations in a bid to relieve interbank tensions.

The ECB said on Friday 28 March that it would pledge €150 billion ($236 billion) through two six-month and two three-month operations "aimed at supporting the normalisation of the functioning of the euro money-market."

The three-month operations will offer €50 billion each and will be carried out on 21 May and 11 June.

Bidding for the six-month loans will take place on 2 April