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ECB lends banks record 442 billion euros in 1-year funds

Thu, 25th June, 2009 - Posted by Joshuah

The European Central Bank said Wednesday it lent a record 442.24 billion euros (622.67 billion dollars) at 1.0 per cent in one-year funds to commercial banks.

The previous record for the central bank’s refinancing operations was 348.6 billion euros in two-week funds in December 2007 as crisis-hit commercial banks scrambled to bolster their balance sheets during the crunch year-end period.

Source/Full Story: The Economic Times

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Category : Economics