ECB keeps unlimited bank loan policy to end-2011

9th June 2011, Comments 0 comments

The European Central Bank maintained Thursday its exceptional policy of offering unlimited loans to commercial banks for up to three months until at least the end of 2011, ECB president Jean-Claude Trichet said.

The decision means that weakened banks in Greece, Ireland and Portugal, the three eurozone members bailed out by the EU and International Monetary Fund, will have ample access to cash for the coming months.

© 2011 AFP

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