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ECB provides 530bn euros of cheap loans for banks

Category: Business

Published: 29th Feb 2012 10:40:15

The European Central Bank (ECB) has provided a further 530bn euros ($713bn; £448m) of low-interest loans to 800 banks across the European Union.

It is the second round of such loans that the ECB offered, and follows after 489bn euros was lent in December.

The loans are aimed to help continue to ease the eurozone debt crisis, and help banks improve their liquidity.

They have also helped such countries as Italy, as some banks have used the bonds to buy government bonds.

Source:
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BBC News, 2012. ECB provides 530bn euros of cheap loans for banks [Online] (Updated 29th Feb 2012)
Available at: http://www.ukwirednews.com/news/1414812/ECB-provides-530bn-euros-of-cheap-loans-for-banks [Accessed 23rd Apr 2014]

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