ECB Lends Staggering 530bn to Banks
Published / Last Updated on 28/02/2012
ECB Lends Staggering €530bn to Banks.
The European Central Bank (ECB) has provided a further 530bn euros ($713bn; £448bn) of low-interest loans to 800 banks across the European Union. This is the second time the ECB has offered such 3-year loans.
The loans are aimed to help continue to ease the eurozone debt crisis and help banks improve their liquidity. The ECB has not revealed which banks have taken part, but UK lender HSBC has confirmed to the BBC that it had borrowed about £350m.