Economy

Ghost Dog

(16,881 posts)

10. ECB 3-year Loan Allotment Exceeds Forecast

Wed Dec 21, 2011, 07:27 AM

Dec 2011

Last edited Wed Dec 21, 2011, 08:17 AM - Edit history (1)

VIENNA (dpa-AFX) - The European Central Bank alloted EUR 489.191 billion in three-year loans to banks in its long term refinancing operation held on Wednesday.

The figure exceeded economists' expectations for allotment upto EUR 300 billion. The total number of bidders was 523, for loans that mature on January 29, 2015, ECB data showed.

/... http://www.finanznachrichten.de/nachrichten-2011-12/22268822-ecb-3-year-loan-allotment-exceeds-forecast-020.htm

€489.19bn is definitely at the top end of analyst expectations, and proves that appetite for funding as well as carry-trades (we presume) is extremely high.

That, or there’s simply a lot of low-quality collateral out there which banks feel more comfortable transforming into liquidity via ECB funding operations.

Here’s the entire results table from Reuters, showing no less than 523 bidders:

/... http://ftalphaville.ft.com/blog/2011/12/21/809861/ltro-use-at-e489-19bn/

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