ECB recalibrates targeted lending operations to further support real economy

PRESS RELEASE

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ECBECB
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https://www.ecb.europa.eu//press/pr/date/2020/html/ecb.pr200430~fa46f38486.en.htmlhttps://www.ecb.europa.eu//press/pr/date/2020/html/ecb.pr200430~fa46f38486.en.html
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Friday, May 1, 2020
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Financial services, Economy, Banking, Eurozone, Economy of the European Union, Monetary policy, European Central Bank, European System of Central Banks, TARGET2, Open market operation, Central bank, Refinancing
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  • PRESS RELEASE

    ECB recalibrates targeted lending operations to further support real economy

    30 April 2020

    The Governing Council of the European Central Bank (ECB) today decided on a number of modifications to the terms and conditions of its targeted longer-term refinancing operations (TLTRO III) in order to support further the provision of credit to households and firms in the face of the current economic disruption and heightened uncertainty.

  • For the period from 24 June 2020 to 23 June 2021 the interest rate on all TLTRO III operations will now be 50 basis points below the average rate applied in the Eurosystems main refinancing operations over the same period.
  • The interest rate on the main refinancing operations is currently 0%.
  • For banks that reach the lending threshold of 0% between 1 March 2020 and 31 March 2021, the most favourable conditions will be applied throughout the entire life of the operations.
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