ECB pumps a fresh $700 billion into euro banks - The Washington Post
The European Central Bank said Wednesday that it had provided some 800 banks in the euro region with more than $700 billion in three-year loans, an infusion of relatively long-term cash meant to help stabilize the currency zone’s troubled finances. The volume of loans and the number of banks participating exceeded expectations, and financial firms used much of the money to simply retire shorter-term ECB loans that were coming due.
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