By Mary Watkins in London
European lenders deposited a record €821bn over the weekend at the European Central Bank after the bank injected a second wave of cheap loans into the eurozone financial system.
The ECB announced last Wednesday that 800 banks had borrowed €529.5bn in the second phase of the programme being offered by the central bank, a move aimed at easing funding pressures on eurozone lenders. In total, lenders have borrowed more than €1tn from the ECB at a rate of 1 per cent under its three-year longer-term refinancing operations (LTRO) in February and December.
"Quantitative easing" in Europe; more debt for all. Check out article here