29/Aug/2014 - Last News Update: 18:00

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:
BBC News External Link Show Citation

Latest News

Harvard Citation

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 29th Aug 2014]

News In Other Categories

  • Fifty Shades of Grey director's home visited by police

    Police have been called to Fifty Shades Of Grey director Sam Taylor-Johnson and actor husband Aaron's home after a machine gun was spotted in the house.
  • Bristol Academy extends reach overseas with first foreign students

    With the doors to its brand new £1million training centre officially open, one of the UK's leading apprentice training providers, Bristol based S&B Automotive Academy, is showcasing its world-class facilities by launching a series of foreign student exchanges for the first time in its 41-year history. To get a flavour of what life is like as an apprentice in the UK, the Academy hosted 16 apprentice engineers and bus drivers from the G9 Automotive College in Hamburg, Germany, as part of a Europe-wide vocational training initiative called the ‘Leonardo Programme’ with support from the European Social Fund. In a reciprocal arrangement, S&B will be sending nine apprentices to Germany during February 2012 so that they can get an appreciation of life in the automotive industry on the Continent. A further three German exchange groups are being planned for next year. Designed to assist the development of vocational skills and training across Europe, including work placements for trainees, the Leonardo Programme has a budget of €1.75bn, which is helping to encourage UK organisations to work with their counterparts abroad. In what is expected to be another challenging year for employers in the UK automotive sector, S&B’s Chief Executive, Jon Winter, claims that the exchange initiative will bring many benefits to the Academy and its apprentices: “In a world of global automotive brands, it’s important for our learners to understand the international context of the industry they have chosen to make their career. This new exchange programme will enable apprentices and Academy staff alike to achieve a better understanding of the challenges and opportunities within the automotive arena in Europe. With the Academy’s influence also extending to the USA and Asia, there’s every possibility that this initiative could move further afield in the future.” Continued Winter: “The need for skilled technicians across the world is on the increase and we actively encourage our apprentices to look at broader horizons during their training. Many of them have already learned the phrase ‘Vorsprung durch Gelehrtheit’, quite simply, ‘Advancement through learning.” In the 2010/11 academic year, S&B doubled the number of successful Apprenticeships over the previous year with some 350 apprentices graduating from the Academy. At the same time, achievement levels reached an all-time high with an overall success rate of 85%. For those learners on the Advanced Apprenticeship three-year programme, success rates were even higher, at over 98%. PHOTO CAPTION: As part of their exchange visit, S&B Automotive Academy arranged for the German apprentices to visit Hampshire bus operator, Bluestar, at its Barton Park depot. The students are pictured with S&B’s Andy West (3rd right) and Steve Prewett, Bluestar’s Area Engineering Manager (2nd right). Ends http://www.sandbaa.com
  • India's economic growth hits two year high

    India's economy grew by 5.7% in the three months to June, its fastest pace in two-and-a-half years, according to an official estimate.
  • Man guilty of abusing Alex Salmond on Twitter

    A man has been convicted of behaving in a threatening or abusive manner towards First Minister Alex Salmond on Twitter.
  • 'Deprived Londoners left behind' by lack of transport access

    Londoners in deprived areas are less likely to have easy access to the capital's transport system, a London Assembly Labour group report has said.
  • Cwmbwrla Ambulance Station conditions criticised by watchdog

    The condition of a Swansea ambulance station has been criticised by a patient watchdog after an inspection.