Banks shy away from ECB’s first TLTRO III
Demand was “shockingly weak” says analyst, but firms are expected to increase uptake in December
Banks in the eurozone largely shied away from the first series of the European Central Bank’s third round of targeted longer-term refinancing operations (TLTROs).
In the first allotment, banks demanded €3.4 billion ($3.7 billion), according to data published by the ECB on September 19. This is well below the demand in any of the four series of TLTRO II offered between June 2016 and March 2017, which ranged from €399.3 billion and €45.3 billion. Banks demanded in total €740.2 billion in TLTRO II
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