Thursday, September 27, 2007

Record lending from the ECB to distressed bank(s) yesterday

Banks Borrow 3.9 Billion Euros at ECB's Penalty Rate

Sept. 27 (Bloomberg) -- The European Central Bank lent the most money at its penalty rate in almost three years, suggesting at least one bank is still being shut out of credit markets. The ECB loaned 3.9 billion euros ($5.5 billion) at its marginal rate of 5 percent yesterday, the most since October 2004, the Frankfurt-based central bank said in a daily borrowing-requirement statement today. It didn't provide details of which bank or banks asked for the money.

Posted by jeremiah @ 02:57 PM (634 views)
Please complete the required fields.

One thought on “Record lending from the ECB to distressed bank(s) yesterday

  • planning4acrash says:

    It is ironic that we in the UK borrow more than Europeans but our banks have hardly required anywhere near as much support as has been provided by the ECB.

    Please complete the required fields.

Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>