June 6, 2019 / 1:43 PM / 9 days ago

ECB sets conditions for securing loans at rebate rate

FRANKFURT, June 6 (Reuters) - Euro zone banks that grow their lending by at least 2.5 percent will get the best rate from the European Central Bank for borrowing cash via its targeted longer-term refinancing operations (TLTRO III), the ECB said on Thursday.

“Counterparties will receive the maximum rate reduction if they exceed their benchmark stock of eligible loans by 2.5% as at 31 March 2021,” the ECB said.

“Below this limit, the size of the decrease in the interest rate will be graduated linearly depending on the percentage by which a counterparty exceeds its benchmark stock of eligible loans.” (Reporting By Francesco Canepa; Editing by Catherine Evans)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below