Draghi defends TLTRO allocation of €82.6 billion

ECB president Mario Draghi

Mario Draghi insisted the €82.6 billion ($106 billion) borrowed in the first of eight targeted longer-term refinancing operations (TLTROs) was "within the range of take-up values we had expected" in his first appearance at the new-look Economic and Monetary Affairs Committee.

The European Central Bank (ECB) unveiled a series of TLTROs in June. Banks will have access to around €400 billion across the first two operations, held last week and in December.

When the ECB announced that €82.6 billion w

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