LTRO flow | FT Alphaville


From the ECB on Friday:

As announced by the Governing Council on 8 December 2011, counterparties have the option to repay, after one year, any part of the amounts that they were allotted in the longer-term refinancing operations settled on 21 December 2011 and 1 March 2012, on any main refinancing operation settlement day. Accordingly, on 30 January 2013 EUR 137159.10 million will be repaid in the tender 20110149 by 278 counterparties.

That’s around 30 per cent of the first three-year LTRO being sent back to the European Central Bank by 278 banks. The second three-year LTRO will become repayable from the 27th of February, with its initial announcement coming on the 22nd.

The €137bn or so being repaid this time is higher than the market expected, but not shockingly so.

LTRO flow | FT Alphaville