ECB to implement new repo facility through five central banks
Monetary authorities in France, Germany, Italy, the Netherlands and Spain to supply liquidity
The European Central Bank has revealed new details of its expanded repo facility.
Following on from its announcement in February, the bank issued a statement today (July 24) saying that the enhanced Eurep facility was aimed at supporting monetary policy transmission and entrenching the euro in international markets.
The new facility will be operated by the Banque de France, the Deutsche Bundesbank, the Bank of Italy, the Netherlands Bank and the Bank of Spain. It will be co-ordinated by the ECB
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