Banks rush to repay LTROs at first opportunity
Banks have leapt at the opportunity to be among the first to repay loans granted as part of the European Central Bank's (ECB) long-term refinancing operations (LTROs) when the first repayment window opens on January 30.
The ECB today revealed that 278 of the 523 institutions that took advantage of the first round of LTROs chose to pay back a total of €137 billion ($184 billion) – 28% of the €489 billion lent in the first half of the programme.
The amount took some analysts by surprise. A
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