ECB extends full-allotment bank loans through June

3rd March 2011, Comments 0 comments

The European Central Bank will continue its crisis measure of offering unlimited low-interest loans to eurozone banks through June, ECB head Jean-Claude Trichet said Thursday.

The ECB's Governing Council "decided to continue conducting its main refinancing operations ... at a fixed-rate tender procedure with full allotment for as long as necessary."

He said this exceptional measure, taken to support eurozone commercial banks during the global economic crisis, would continue to at least to July 12.

© 2011 AFP

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