ECB hands banks 45.3b euros at zero interest rate

Frankfurt

THE European Central Bank (ECB) handed 45.3 billion euros (S$69 billion) to euro-area lenders at a zero interest rate, in the second round of its programme to boost credit to the real economy.

The take-up in the targeted longer-term refinancing operation, known as TLTRO-II, compares with a net 31 billion euros at the last operation in June.