Asia Bizz: European Central Bank Lends A Whooping 136 Billion Euros To Banks In Europe
The European Central Bank has reportedly given a loan of 111.2 billion Euros to the banks in Europe in order to waiver out an expiry of a number of loans.
The ECB says that 78 banks had been called in the operation, which involved 442 billion Euros which was lent out as credit to these banks last year.
UK Today News reports: “According to the ECB they have lent out lower than what they had expected, they were to give out around 131 billion Euros to these banks for three months, but as per the recognition of these banks, neither their nationalities or the names of the banks were identified.”
The banks officials state that money cash needs of the banks are not as high as expected, given the fact that a strong European crisis at hand.
The Euro which had fell during the last financial month, has begun showing some signs of increasing on Wednesday this week.