News Column

Germany : EUROPEAN CENTRAL BANK aims to offer long-term loans to banks

June 7, 2014



The European Central Bank declared that it is taking fresh, unusual moves, comprising a new booster of cheap credit for banks, to keep the eurozone from sliding into deflation.

The bank's president, Mario Draghi, stated that the ECB would propose long-term loans to banks at cheap rates until 2018.

The loans would be clinched at 7 percent of bank's allowing to firms. It would do preparatory work to purchase batches of loans to small businesses in the form of bonds, a move to filter more credit to firms via financial markets.

It authorized to block collecting weekly deposits targeted at compensating the monetary effects of earlier bond purchases.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: TendersInfo (India)


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters