CCTV.com - CNTV English - CCTV News

Banks borrowing from ECB lower than expected

07-01-2010 09:59 BJT

Watch Video

Play Video

Banks borrowed less than expected from the European Central Bank in a key funding operation.

The lower than expected borrowing came ahead of the July deadline for the repayment of close to half a trillion euros. Fears were eased about the banks' ability to cope as rollover borrowing at the end of the ECB's 12 month funds came in well below expectations.

Banks have to repay 442 billion euros on the one year loan aimed at fighting the financial crisis last year. The ECB says banks borrowed just under 132 billion euros over three months at a flat rate of 1 percent.

The amount is the highest ever borrowed for such a period but pales beside the 442 billion euros of one year money, which banks must repay to the ECB at the beginning of July.

European shares gained on the news while the euro rose across the board. Banks in Greece, Spain and Portugal are increasingly dependent on the ECB as they struggle to borrow due to concerns over their debt and public finances.

 

Editor:Zhang Pengfei |Source: CCTV.com

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program