Szydlo called on the National Bank of Poland to introduce a low-interest credit programme for companies, modelled on the European Central Bank's Long-Term Refinancing Operation
, or LTRO.
Disappointing Another of its liquidity measures, the so-called Targeted Long-Term Refinancing Operation
(TLTRO) under which the ECB made ultra-cheap loans available to banks in the hope that they would lend it on to businesses, disappointed market expectations.
The ECB cut the deposit rate into negative territory last week and announced a targeted Long-Term Refinancing Operation
to spur lending to SMEs, particularly in peripheral countries.
The most significant measure taken by the ECB, in our view, is the Targeted Long-Term Refinancing Operation
25% could potentially also slow the pace of long-term refinancing operation
(LTRO) repayments, as lower interest costs make it more attractive for banks to hold on to the loans for longer and invest them in higher-yielding assets.
This would be similar to the long-term refinancing operation
carried out by the ECB in late 2011, when over a trillion euros were pumped into the region's banking sector.
There are high expectations now that the BOJ will come up with a Japanese version of a long-term refinancing operation
," a measure to extend the term of low-interest lending to banks in an effort to contain a rise in long-term bond yields, he said.
In the United States we have betterthan-expected economic growth, China is due for a soft (rather than hard) landing and Europe is involved in a long-term refinancing operation
that is seen as reducing the threat of a Lehman-style meltdown repeat.
RBS, along with hundreds of banks across Europe, is still receiving some central bank support via the e10bn of cheap three-year loans from the European Central Bank's long-term refinancing operation
1billion) worth of cheap three-year loans from the European Central Bank's long-term refinancing operation
The bank borrowed around EUR1bn in cheap three-year loans offered by ECB under its second long-term refinancing operation
(LTRO) in February 2012 and another EUR200m in the first auction in December 2011, Girelli told a news conference.
Analysts say the effects of the European Central Bank's long-term refinancing operation
(LTRO) are still filtering their way through the system and helping emerging markets.