ECB receives strong demand for three-year liquidity
The European Central Bank (ECB) has received stronger-than-expected demand from European banks at its first three-year liquidity auction. The central bank introduced a three-year tenor in a further attempt to alleviate funding strains in European money markets.
Figures released by the ECB on December 21 show 523 banks received €489 billion ($638.5 billion) of loans from the central bank as part of its longer-term refinancing operations (LTROs).
European equity markets reacted positively
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