Spanish banks seen taking 18b euro in ECB cheap loans: Economy Minister
[MADRID] Spanish Economy Minister Luis de Guindos on Tuesday said he expected Spanish banks to take up to around 18 billion euros (US$23 billion) in the European Central Bank's next auction of cheap long term loans in December.
"In the first (auction), (Spanish) entities took around 15 billion euros, I expect them to ask for some 17 billion or 18 billion euros now," Mr De Guindos told a parliamentary meeting.
The four-year loans to banks are part of an ECB stimulus package to revive the eurozone economy. Lenders in the area took 82.6 billion euros of 400 billion euros on offer in a first September auction, less than had been expected.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
China passes tariff law as tensions with trading partners simmer
Blinken meets Chinese counterpart Wang Yi in Beijing
South Korea’s public finances no longer a credit rating ‘strength’: Fitch
UK consumer confidence improves as inflation and taxes fall
Inflation in Japan’s capital falls below BOJ target, slows for second month