Your English writing platform
Discover LudwigExact(9)
On Wednesday the market will be keeping an eye on the European Central Bank's long term refinancing operation, to see how much of the funding on offer is taken up by struggling banks.
It could also provide near unlimited liquidity through yet another huge long term refinancing operation.
In all 523 banks borrowed €490m in the first handout at the end of December 2011 as part of the LTRO (long term refinancing operation).
The exception is the ECB's Long Term Refinancing Operation (LTRO), which provides banks with three-year liquidity at its main interest rate, currently 1%, against a wide array of collateral.
And he also points to the ECB's own measures - its Long Term Refinancing Operations which averted a credit crunch, and the OMT programme (the pledge to buy unlimited quantities of government bonds if a country agrees to reforms).
Barclays on Friday confirmed it borrowed €8.2bn as major financial institutions across the continent took their borrowing from the European Central Bank's Long Term Refinancing Operation (LTRO) to more than €1tn.
Similar(49)
The first is the so-called long-term refinancing operation.
The European Central Bank's long-term refinancing operation of lending to banks helped spur demand.
They are now reviewing a long-term refinancing package drawn up by Credit Suisse First Boston.
Draghi says that a third Long-Term Refinancing Operation was not considered.
"We are fully confident that long-term refinancing of the entire £660m will take place shortly".
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com