World Economy

ECB Lends €82b in New Loans

ECB Lends €82b in New LoansECB Lends €82b in New Loans

The European Central Bank has leant 82.6 billion euro to 255 banks under its new lending program, AFP said. “The program is designed to enhance the functioning of the monetary policy transmission mechanism by supporting bank lending to the real economy,” the ECB said on Thursday. Analysts had predicted an uptake of at least 100 billion euro for the Targeted Long-Term Refinancing Operation (TLTRO). The ECB unveiled plans in June to pump more liquidity into the financial system using the TLTRO.