Third TLTRO sees extra €98 billion borrowed from ECB

ECB, Frankfurt

The third targeted long-term refinancing operation (TLTRO) proved more popular than many observers expected today, with 143 banks borrowing an additional €97.8 billion from the European Central Bank (ECB).

This pushes the total amount borrowed from the first three instalments of the programme to €310.6 billion, with another five allotments still to come, running up to June 2016.

In an effort to encourage banks to lend more to the real economy, the ECB announced the TLTROs – which allow banks to

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