Banks to return 3.7 billion euros in crisis loans to ECB next week
FRANKFURT (Reuters) - Banks will return 3.737 billion euros (2.98 billion pounds) in long-term loans to the European Central Bank next week, after the ECB started to charge for holding banks' excess cash overnight and promised more long-term loans.
The amount that banks will repay on July 16 is slightly less than this week's crisis-loan repayments of 4.015 billion euros and below the 5 billion forecast in a Reuters poll. [ECB/REFI]
The ECB cut interest rates last month to record lows - the deposit rate is now below zero - and took several steps to boost lending to euro zone companies. It also pledged to do more if needed to fight off the risk of Japan-like deflation.
The measures include a new four-year loan scheme, with which the ECB hopes to encourage banks to boost their lending.
Banks, getting into shape for a Europe-wide banking stress test which will check how they would hold up if they suffered various shocks, are repaying funds they took from the ECB in late 2011 and early 2012.
On Friday, the ECB said four banks would repay 1.517 billion euros from the first of those LTROs on July 16 and seven banks would pay back 2.220 billion from the second LTRO.
Announcements on details of LTRO early repayments (bln euro)
First LTRO (December 2011) Second LTRO (February 2012)
Jan. 25, 2013 137.1591
Feb. 1, 2013 3.4840
Feb. 8, 2013 4.9925
Feb. 15, 2013 3.7900
Feb. 22, 2013 1.7440 61.092
March 1, 2013 4.1760 8.319
March 8, 2013 1.3360 2.894
March 15, 2013 0.385 6.432
March 22, 2013 1.565 0.371
March 28, 2013 3.845 3.160
April 5, 2013 4.092 3.972
April 12, 2013 6.555 4.238
April 19, 2013 8.874 2.068
April 26, 2013 1.661 0.615
May 3, 2013 0.008 0.608
May 10, 2013 1.205 5.152
May 17, 2013 1.020 0.104
May 24, 2013 6.208 1.915
May 31, 2013 2.810 0.271
June 7, 2013 2.800 0.130
June 14, 2013 3.008 0.180
June 21, 2013 5.030 0.208
June 28, 2013 2.025 0.035
July 5, 2013 0 2.095
July 12, 2013 0.513 0.702
July 19, 2013 2.182 0.200
July 26, 2013 1.064 0.451
Aug. 2, 2013 1.800 0.333
Aug. 9, 2013 0.516 0.200
Aug. 16, 2013 0.204 0.450
Aug. 23, 2013 0.100 0.205
Aug. 30, 2013 0.100 4.545
Sept. 6, 2013 3.705 2.200
Sept. 13, 2013 0.741 2.375
Sept. 20, 2013 2.650 5.260
Sept. 27, 2013 1.535 1.622
Oct. 4, 2013 4.610 3.065
Oct. 11, 2013 0.597 0.250
Oct. 18, 2013 0.105 5.094
Oct. 25, 2013 1.445 0.311
Nov. 1, 2013 5.288 5.363
Nov. 8, 2013 2.910 2.857
Nov. 15, 2013 3.155 0.431
Nov. 22, 2013 2.841 5.0815
Nov. 29, 2013 5.105 2.130
Dec. 6, 2013 3.138 3.932
Dec. 13, 2013 3.320 19.330
Dec. 20, 2013 4.050 16.675
Jan. 10, 2014 0.980 1.586
Jan. 17, 2014 0.632 0.359
Jan. 24, 2014 3.4969 0.202
Jan. 31, 2014 0.250 0.218
Feb. 7, 2014 0.525 1.250
Feb. 14, 2014 0.790 0.230
Feb. 21, 2014 2.500 0.345
Feb. 28, 2014 0.510 2.502
March 7, 2014 3.133 8.268
March 14, 2014 4.995 5.080
March 21, 2014 6.411 12.498
March 28, 2014 0.175 1.383
April 4, 2014 2.527 2.352
April 11, 2014 3.385 4.880
April 17, 2014 5.782 1.754
April 25, 2014 9.400 0.179
May 2, 2014 1.300 0.450
May 9, 2014 2.609 0.756
May 16, 2014 5.005 1.150
May 23, 2014 6.123 0.854
May 30, 2014 1.550 0.240
June 6, 2014 9.664 0.924
June 13, 2014 1.692 2.020
June 20, 2014 10.300 2.318
June 27, 2014 0.030 4.450
July 4, 2014 0.645 3.370
July 11, 2014 1.517 2.220
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Amount outstanding as of July 10
123.476 276.809
(Reporting by Paul Carrel, editing by John Stonestreet)
