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Caixabank to take 7 bln euros from ECB long-term loan scheme
July 25, 2014 / 9:27 AM / in 3 years

Caixabank to take 7 bln euros from ECB long-term loan scheme

MADRID, July 25 (Reuters) - Spain’s Caixabank intends to take around 7 billion euros ($9.4 billion) in new long-term loans being offered by the European Central Bank, Chief Executive Gonzalo Gortazar told a news conference on Friday.

“The intention is to take that amount in the auctions,” Gortazar said.

The ECB said in June it would give banks fresh access to long-term liquidity with the aim of improving lending to euro zone companies, in two so-called targeted longer-term refinancing operations (LTROs) to be held in September and December of this year.

$1 = 0.7439 Euros Reporting by Sarah White and Jesus Aguado, Editing by Paul Day

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