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3 Jul 2014
ECB's Draghi: TLTRO maximum takeup expected at 1 trillion euros
FXStreet (Łódź) - During the Q&A part of the press conference Mario Draghi says that the maximum TLTROs take up could reach 1 trillion euros and that six TLTROs will be realized at quarterly intervals until June 2016.
• Cheap loans to banks will boost inflation towards the 2% target.
• Loans will be available for individual banks or for groups of financial institutions. They'll be able to borrow up to 7% of their total lending to the non-financial sector.
• ECB meetings will not be synchronized with those of the Fed.
• Governing Council still working on details of presentation of the monetary policy meeting minutes.
• As far as the work on ABS lending is concerned, the ECB head emphasizes the importance of making it simple and transparent, avoiding exotic derivatives.
• Cheap loans to banks will boost inflation towards the 2% target.
• Loans will be available for individual banks or for groups of financial institutions. They'll be able to borrow up to 7% of their total lending to the non-financial sector.
• ECB meetings will not be synchronized with those of the Fed.
• Governing Council still working on details of presentation of the monetary policy meeting minutes.
• As far as the work on ABS lending is concerned, the ECB head emphasizes the importance of making it simple and transparent, avoiding exotic derivatives.